GM’s Sales Beat Analyst Expectations, Buck Industry Trend
“Chevrolet has the hot hand in the pickup market thanks to our three-truck strategy,” said Kurt McNeil, General Motors’ U.S. vice president of Sales Operations. “Our market share is growing and our strategy is to retain these customers with the best overall ownership experience.”
The Chevrolet Silverado’s estimated retail segment share was 27 percent in May, according to J.D. Power PIN data, up 3 percentage points year over year. Calendar year to date, the truck’s retail segment share is 26 percent, up 1 percentage point.
Demand for the all-new Colorado midsize pickup is rising faster than GM’s ability to increase production, even with the addition of a third production shift in March. With 8,881 sales in May, the Colorado controls about one-quarter of the retail market for midsize pickups and it has been the industry’s fastest-selling pickup for four consecutive months. Its “days to turn” is only 13 days, according to PIN, and retail inventory is 11 days.
Demand is also soaring for Chevrolet crossovers, which had their best sales ever in May. The Equinox was up 30 percent compared to a year ago and the Traverse rose 2 percent. Retail deliveries for the Equinox and Traverse were up 15 percent and 30 percent, respectively. The all-new Trax small crossover also continues to gain momentum, with 5,707 deliveries.
Growth at GMC, which focuses exclusively on trucks and crossovers, is far outpacing the industry. The brand had its best May since 2005, up 12 percent year over year.
The GMC Sierra was up 4 percent. Terrain had its best May sales ever, with sales up 11 percent, the Acadia had its best month ever, with sales up 67 percent, and the new Canyon contributed 2,901 units. Calendar year to date, GMC sales are up 15 percent.
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