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How Stronger Demand for Chevrolet Helped GM in September 2017

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Oct. 5 2017, Updated 9:39 a.m. ET

GM’s retail sales in September 2017

In the first three quarters of 2017, General Motors’ Chevrolet brand’s retail sales were marginally down by 0.2% YoY (year-over-year). Also, Chevrolet’s total sales were down by 1.0% YoY. Nevertheless, a recovery in Chevrolet brands’ retail sales gave a boost to GM’s total US retail sales in September 2017. Let’s take a closer look.

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Brand-wise sales in September

In September 2017, the US retail vehicle sales (IYK) performance of GM’s key brands were as follows:

  • Sales for Chevrolet, the company’s key brand, increased significantly by 12.1% YoY to 151,792 vehicle units. September sales were higher than they were in August at 151,137. The total Chevrolet brand sales rose 17.4% YoY in September.
  • Total US sales of the GMC brand were at 47,329 vehicle units, a rise of 9.4% YoY. At the same time, GMC brand’s retail sales also rose 5.8% YoY to 40,938 units last month.
  • 16,737 Buick brand vehicle units were sold in September, down 20.0%. Out of these, 16,498 vehicle units were sold to retail customers, a 4.1% YoY drop.
  • In September 2017, US Cadillac brand sales rose 1% YoY but the brand’s retail segment sales were down 9.6% to 11,847 units.

Chevrolet brand recovery continues

Since the early years of General Motors, the Chevrolet brand has been the largest contributor to the company’s revenues. In 2Q17, the retail sales growth of Chevrolet brand was disappointing. With the solid recovery in August and September, Chevrolet remains the most important brand for GM even today with the largest contribution to its total sales among all of GM’s other brands. In September, Chevrolet accounted for about 68.7% of GM’s total US retail sales. General Motors competes with Ford (F), Fiat Chrysler (FCAU), and Toyota (TM) in the US auto market.

In the next part, we’ll see what Wall Street analysts are recommending for the top two US automakers, GM and Ford.

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