General Motors’ August Sales and Chevrolet’s Recovery
GM’s retail sales in August
In the first eight months of 2017, General Motors’ (GM) Chevrolet brand retail sales fell 3.0% YoY (year-over-year), while the brand’s overall sales fell 5.5% YoY. In contrast, a fall in Chevrolet’s retail sales gave a boost to GM’s overall US retail sales in August 2017. Let’s take a closer look.
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Brand sales in August
In August 2017, the US retail vehicle sales (IYK) performance of GM’s key brands were as follows:
- Retail sales for Chevrolet, GM’s key brand, rose 5.9% YoY to 151,137 vehicle units. That was much higher than 132,533 vehicle units in July. The total Chevrolet brand sales rose significantly by 11.4% YoY in August.
- Total US sales of the GMC brand were 47,718 vehicle units, a rise of 12.4% YoY in August. The GMC brand’s retail sales rose 7.0% YoY to 41,868 units.
- In August, 16,811 vehicle units of the Buick brand were sold, which was a fall of 22.5%. Of those, 16,781 vehicle units were sold to retail customers, which was a fall of 2.0% YoY.
- In August 2017, US sales of Cadillac brand vehicles fell 8.1% YoY, and the retail segment sales of the brand fell 14.3% to 11,992 units.
Why was the Chevrolet brand recovery important?
Since the early years of General Motors, its Chevrolet brand has been the largest contributor to revenues. In 2Q17, retail sales growth for Chevrolet was disappointing. Despite a recent sales drop, Chevrolet remains the most important brand for the company with the largest contribution among all of GM’s other brands.
In August, Chevrolet accounted for 71.1% of GM’s total retail sales in the US market.
In the next part, we’ll find out what Wall Street analysts are recommending for GM and Ford, the top two US automakers.