As you may have already heard, there has been a lot of talk about GM’s U.S. sales results for the month of January 2014. The discussions have mostly been on the negative side, with The General’s full-size pickup trucks being the center of attention. Since we haven’t seen any analysts or reporters use actual sales numbers to determine the validity of the “GM is doomed” claims, we’re going to do so ourselves.
As a reminder, January sales were down across the industry as a result of a fierce combination of cold weather and snow, which kept buyers at home and away from dealerships. As it relates to pickup trucks specifically, GM has refused to match massive incentives offered by Ford and Ram, thereby focusing on higher profitability instead of market share at any cost. To note, GM’s pickup offerings are all-new and represent the next generation of the vehicle lines, while both Ford and Ram are offering outdated last-gen models, hence the steep discounts to keep interest and top-of-mind.
|MODEL||CHEVROLET SILVERADO||GMC SIERRA||GM COMBINED||FORD F-SERIES||RAM PICKUP||TOYOTA TUNDRA||NISSAN TITAN||TOTAL|
|JAN 2014 SALES||28,926||11,118||40,044||46,536||25,071||7,890||887||120,428|
|JAN 2014 SHARE||24.02%||9.23%||33.25%||38.64%||20.82%||6.55%||0.74%||100.00%|
|JAN 2013 SALES||35,445||12,846||48,291||46,841||20,474||7,004||1,394||124,004|
|JAN 2013 SHARE||28.58%||10.36%||38.94%||37.77%||16.51%||5.65%||1.12%||100.00%|
Overall, GM’s Chevy Silverado and GMC Sierra made up 40,044 sales in the U.S. in January 2014, down 8,247 units on an annual basis. Those numbers give GM a market share of 33 percent in January 2014, compared to 39 percent in January 2013. By comparison, cross-town rival Ford saw the market share of its F-Series line rise slightly, from 37 percent in January 2013 to 38 percent in January 2014 (Ford’s full sales results available here). Meanwhile, the Ram pickup recorded an even larger jump than The Blue Oval, going up from 16 percent to 20 percent.
The GM Authority Take
Even with all-new offerings, GM was, in fact, the only major pickup maker experience a drop in market share. Yet as we outlined before, the average transaction price was extremely healthy, and simply couldn’t be matched by the highly-discounted vehicles beings sold by the competition. What’s more, we’ll be patiently waiting to see how the all-new 2015 F-150 will affect the sale of Ford’s truck as it arrives late this year. Something tells us that The Blue Oval will discontinue the massive incentives upon its launch.