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GM Sees US Retail Sales Slide in October but Gains Market Share

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US vehicle sales in October

Previously in this series, we learned about Ford Motor’s (F) stronger home market retail sales in October. A consistent strength in the company’s F-Series high-end Super Duty trucks also continued to drive its truck sales higher, boosting Ford’s total US sales. In this part, we’ll look at last month’s US sales for General Motors (GM), the largest US automaker.

General Motors’ October 2017 US sales

In October 2017, GM’s total US vehicle sales stood at 252,813 units, about 2.2% lower than its sales in the same month of 2016. GM’s October US sales were much higher than Ford’s sales of 200,436 units.

In September, General Motors’ total US sales rose ~11.9% YoY (year-over-year) to 279,397 units. In May, General Motors’ US sales were lower than Ford’s for the first time in fiscal 2017.

According to 2016 sales data, GM was the third-largest auto company (IYK) globally. Volkswagen’s (VLKAY) and Toyota Motor’s (TM) global sales were higher than GM’s last year.

Weaker retail sales

In October 2017, General Motors’ US retail vehicle sales fell 6.6% YoY to 194,512 units. The company’s October US retail sales were also significantly lower than the 221,075 vehicle units it sold in September. In its latest monthly US sales report, GM highlighted that its retail market share has stood at 17% or higher for the last three months.

Despite higher fleet vehicle sales, weak retail sales drove GM’s total US sales lower in October, following gains in the previous two months. Continued weakness in the company’s retail sales could hurt investor confidence going forward. Continue to the next article to learn about GM’s segment-wise retail sales in October 2017.

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