May was not the best month for General Motors’ retail sales. After 12-months of retail sales increases for the automaker, the growth slid back. GM blames its planned reduction in cheap, rental vehicle sales and less incentives throughout its portfolio of vehicles.
According to Automotive News, the incentives shall return for June. Chevrolet will be the focus of new retail incentives, with a whopping $8,025 cash back incentive on select crew cab models during its “Truck Month” promotion. Additionally, those crew cab pickups may also be had with 0-percent financing for 60-months.
The Impala, Sonic and Spark will also see a 20-percent sticker price slashing, along with $750 cash back for non-GM owners to enter a new vehicle. A blitz of new advertising for the 2016 Chevrolet Malibu and Cruze are also on the way, too.
“Now, it’s time to close out the second quarter and defend our position as the fastest growing full-line brand of 2016,” Chevy U.S. chief Brian Sweeney, wrote in an email to dealers Wednesday.
Overall, retail sales slumped 18-percent in the U.S., putting GM just ahead of rivals Ford and Fiat Chrysler in terms of marketshare. GM also pointed to its production constraint issue surrounding the Japanese earthquake situation as a factor.
Even with the short-term blow, GM North America chief Alan Batey stated the automaker is committed to reducing its sales to rental fleets, in order to boost residual values. He also stated the increase in incentives will scale back as we run the course of 2016.