General Motors reported 226,107 new vehicle deliveries in July 2017 for the U.S. market, a 15.4 percent decrease compared to strong July 2016 sales. Sales were down at every brand, including Chevrolet, GMC, Buick and Cadillac.
The automaker attributes the decline to responsible sales of vehicles into the the lucrative retail and commercial segments, rather than incentivizing overproduced vehicles, thereby protecting residual values.
“We have strategically decided to reduce car production rather than increase incentive spending or dump vehicles into daily rental fleets, like some of our competitors,” said Kurt McNeil, U.S. vice president of Sales Operations. “We are working hard to protect the residual values of our new products and growing quality retail and commercial sales, and July’s ATPs reflect that discipline.”
GM continues to focus on crossovers, a segment that is growing in volume and also carries higher margins. By the end of 2017, GM will offer customers the U.S. industry’s newest and broadest lineup of crossovers, including the 2018 Chevy Equinox, 2018 GMC Terrain, 2018 Chevrolet Traverse, and 2018 Buick Enclave along with the Buick Regal TourX ruggedized wagon.
“Changing customer tastes have driven us to refocus our business on higher margin, faster growing segments, like the crossover segments. We are launching the most all-new crossovers in our history to take full advantage of the changes occurring in the U.S. marketplace,” added McNeil. “Our newest crossovers are performing very well in the marketplace and we’ll build on that momentum with the all-new Chevrolet Traverse, GMC Terrain, Buick Enclave and the introduction of the Regal TourX through the second half of 2017.”
In fact, GM’s crossovers and trucks account for 80 percent of sales for the company’s best monthly mix ever.
“U.S. auto sales continue to moderate from last year’s record pace, but key U.S. economic fundamentals remain supportive of strong vehicle sales,” said Mustafa Mohatarem, GM chief economist. “Under the current economic conditions, we anticipate the second half of 2017 will be much stronger than the first half.”
Sales Summary - July 2017 - General Motors - USA
| Sales | Sales Mix | |||||
|---|---|---|---|---|---|---|
| Total | 226,107 | 267,258 | -15.4% | -41151 | 100.0% | 100.0% |
| Sale Type | July 2017 | July 2016 | July 2017 / July 2016 | July 2017 - July 2016 | July 2017 | July 2016 |
| Retail | 202,220 | 236,235 | -14.4% | -34015 | 89.4% | 88.4% |
| Fleet | 23,887 | 31,023 | -23% | -7136 | 10.6% | 11.6% |
GM U.S. July 2017 Sales Notes
General Motors sales overview:
Sale types:
- Total sales volume decreased 15.4 percent to 226,107 vehicles:
- Chevrolet cumulative sales decreased 5.3 percent to 178,820 units
- GMC cumulative sales increased 4.8 percent to 51,137 units
- Buick cumulative sales increased 10.4 percent to 22,960 units
- Cadillac cumulative sales increased 1.3 percent to 14,341 units
- Retail sales volume decreased 14.4 percent or 34,015 vehicles to 202,220 units, representing 89.4 percent of total July 2017 sales compared to 88.4 percent in July 2016:
- Chevrolet retail sales increased 3.0 percent to 154,305 units
- GMC retail sales increased 9.9 percent to 47,809 units
- Buick retail sales decreased 12.7 percent to 20,628 units
- Cadillac retail sales increased 1.1 percent to 13,493 units
- Fleet sales volume decreased 23 percent or 7,136 vehicles to 23,887 units, accounting for 10.6 percent of total July 2017 sales compared to 11.6 percent in July 2016:
- Daily rental deliveries decreased more than 11,200 vehicles or 81 percent, as planned. In fact, daily rental sales accounted for only 1 percent of GM’s total sales, and GM continues to have the lowest U.S. rental mix of any full-line automaker at about 7 percent of total sales year to date.
- Commercial deliveries increased 40 percent for its best July since 2007, led by strong large vans sales (up 89 percent), small utilities (up 61 percent) and large pickups (up 21 percent). Year-to-date, GM commercial sales are up 11 percent.
- Commercial and Government sales were 77 percent of GM’s fleet sales for the month
Average Transaction Prices (ATPs) & Incentive Spending:
- GM’s July incentive spending as a percentage of average transaction prices (ATP) was 11.5 percent, more than 1 full percentage point below the industry average and 0.5 percentage points below GM’s 2016 calendar year average. Some of GM’s competitors, without strong truck and crossover businesses, are offering significantly higher incentives across their entire portfolios, according to J.D. Power PIN estimates.
- July ATPs were about $36,000, up nearly $1,000 from July 2016
Inventory:
- July month-end inventory was 939,831 units for a 104-day supply, representing:
- A decrease of 40,623 units from the 980,454 units at the end of June 2017
- A decrease of 1 day from the 105 days supply at the end of June 2017
- An increase of 257,661 units from the 682,170 units at the end of July 2016
- An increase of 38 days from the 66 days supply at the end of July 2016
- GM anticipates to end 2017 at or below last year’s level, with fewer cars and more trucks, crossovers and utilities in the mix
- Pickup, crossover, and utility sales, a GM strength, are expected to be stronger in the second half of 2017 vs. the first half
- The automaker will continue to monitor the marketplace and will make additional production adjustments if needed
SAAR:
- The seasonally adjusted annual selling rate (SAAR) for light vehicles was 16.9 million vehicles in July 2017. The SAAR is 16.9 million units for 2017 calendar-year-to-date, down from the 17 million forecasted in the first 5 months of 2017
Chevrolet sales decreased 15.3 percent to 151,502 units:
- Chevrolet Bolt EV sales totaled 1,971 units, its best month ever; August will be the first month the Bolt EV is available on a national basis
- Chevrolet Camaro sales decreased 14.62 percent to 4,713 units; retail sales were up slightly
- Chevrolet Caprice sales decreased 34.48 percent to 38 units
- Chevrolet Colorado sales increased 21.87 percent to 11,206 units; retail sales increased 22 percent
- Chevrolet Commercial Truck sales totaled 582 units; the results include Chevrolet City Express sales and Chevrolet Low Cab Forward sales
- Chevrolet Corvette sales decreased 10.61 percent to 1,930 units
- Chevrolet Cruze sales decreased 10.53 percent to 12,278 units; retail sales were up slightly
- Chevrolet Equinox sales increased 7.5 percent to 23,524 units
- Chevrolet Express sales increased 7.09 percent to 5,226 units
- Chevrolet Impala sales decreased 39.9 percent to 3,032 units
- Chevrolet Malibu sales decreased 10.75 percent to 10,549 units
- Chevrolet SS sales decreased 50.29 percent to 259 units
- Chevrolet Silverado sales decreased 15.06 percent to 45,966 units; retail sales of the Silverado 1500 double cab increased 4 percent
- Chevrolet Sonic sales decreased 47.32 percent to 2,552 units
- Chevrolet Spark sales decreased 81.93 percent to 764 units
- Chevrolet Suburban sales decreased 32.9 percent to 3,392 units
- Chevrolet Tahoe sales decreased 19.06 percent to 6,824 units
- Chevrolet Traverse sales decreased 43.15 percent to 8,626 units
- Chevrolet Trax sales decreased 30.78 percent to 6,552 units
- Chevrolet Volt sales decreased 36.91 percent to 1,518 units
Cadillac sales decreased 21.7 percent to 11,227 units:
- Cadillac ATS sales decreased 63.33 percent to 777 units
- Cadillac CT6 sales increased 7.62 percent to 890 units; retail sales increased 7 percent
- Cadillac CTS sales decreased 40.14 percent to 786 units
- Cadillac ELR sales decreased 86.67 percent to 2 units
- Cadillac Escalade sales increased 2.64 percent to 1,748 units
- Cadillac Escalade ESV sales decreased 17.12 percent to 978 units
- Cadillac SRX sales decreased 99.92 percent to 1 unit; the model has been fully replaced by the XT5 crossover
- Cadillac XT5 sales increased 11.17 percent to 5,504 units, its best July ever
- Cadillac XTS sales decreased 41.58 percent to 541 units
- Cadillac July Average Transaction Prices (ATPs) increased more than $3,000 and lead the luxury market; they’re also more than $3,000 higher than its closest competitor
Buick sales decreased 30.5 percent to 15,966 units:
- Buick Cascada sales decreased 33.33 percent to 422 units
- Buick Enclave sales decreased 41.98 percent to 4,206 units
- Buick Encore sales decreased 6.28 percent to 6,488 units
- Buick Envision sales increased 97.89 percent to 2,812 units, its best July ever
- Buick LaCrosse sales decreased 56.42 percent to 1,028 units
- Buick Regal sales decreased 62.12 percent to 874 units
- Buick Verano sales decreased 93.42 percent to 136 units
- Buick’s retail sales in the first seven months of 2017 were up 1.9 percent to 116,290 units, the highest since 2005
- Buick Average Transaction Prices (ATPs) were best highest since December 2015
- Buick’s SUV mix is highest-ever in July with 85 percent
GMC sales decreased 7.3 percent to 47,412 units:
- GMC Acadia sales increased 30.29 percent to 9,722 units, its best July ever
- GMC Canyon sales decreased 21.83 percent to 2,761 units
- GMC Savana sales increased 188.57 percent to 2,095 units
- GMC Sierra sales decreased 10.99 percent to 19,963 units
- Sierra has the highest Average Transaction Prices (ATPs) in the full-size pickup segment
- Sierra HD retail sales increased 6 percent in July and 9 percent year-to-date, the best in a decade
- GMC Terrain sales decreased 38.98 percent to 5,721 units
- GMC Yukon sales decreased 6.56 percent to 4,370 units
- GMC Yukon XL sales decreased 5.35 percent to 2,780 units
- Retail sales of the Yukon family increased 4 percent and the lineup had its best July since 2007
- GMC Average Transaction Prices (ATPs) were highest ever, and up 8 percent since July 2016
Sales Results - July 2017 - USA - Chevrolet
| MODEL | JUL 2017 / JUL 2016 | JULY 2017 | JULY 2016 | YTD 2017 / YTD 2016 | YTD 2017 | YTD 2016 |
|---|---|---|---|---|---|---|
| BOLT EV | * | 1,971 | * | * | 9,563 | * |
| CAMARO | -14.62% | 4,713 | 5,520 | -2.54% | 41,280 | 42,354 |
| CAPRICE | -34.48% | 38 | 58 | -38.90% | 333 | 545 |
| COLORADO | +21.87% | 11,206 | 9,195 | +1.80% | 61,507 | 60,422 |
| COMMERCIAL TRUCK | * | 582 | * | * | 4,834 | * |
| CORVETTE | -10.61% | 1,930 | 2,159 | -7.07% | 15,637 | 16,827 |
| CRUZE | -10.53% | 12,278 | 13,723 | +16.94% | 117,466 | 100,454 |
| EQUINOX | +7.50% | 23,524 | 21,882 | +9.62% | 156,978 | 143,202 |
| EXPRESS | +7.09% | 5,226 | 4,880 | +7.87% | 40,374 | 37,429 |
| IMPALA | -39.90% | 3,032 | 5,045 | -44.10% | 34,344 | 61,435 |
| MALIBU | -10.75% | 10,549 | 11,820 | -28.53% | 94,448 | 132,145 |
| SILVERADO | -15.06% | 45,966 | 54,116 | -5.75% | 308,906 | 327,768 |
| SONIC | -47.32% | 2,552 | 4,844 | -38.10% | 20,510 | 33,136 |
| SPARK | -81.93% | 764 | 4,229 | -55.72% | 9,972 | 22,520 |
| SS | -50.29% | 259 | 521 | +21.04% | 2,583 | 2,134 |
| SUBURBAN | -32.90% | 3,392 | 5,055 | +1.16% | 28,295 | 27,970 |
| TAHOE | -19.06% | 6,824 | 8,431 | +0.35% | 51,833 | 51,652 |
| TRAVERSE | -43.15% | 8,626 | 15,173 | -6.05% | 65,584 | 69,805 |
| TRAX | -30.78% | 6,552 | 9,466 | +12.65% | 43,483 | 38,601 |
| VOLT | -36.91% | 1,518 | 2,406 | +1.93% | 12,450 | 12,214 |
| CHEVROLET TOTAL | -15.28% | 151,502 | 178,820 | -5.51% | 1,120,384 | 1,185,710 |
Sales Results - July 2017 - USA - Cadillac
| MODEL | JUL 2017 / JUL 2016 | JULY 2017 | JULY 2016 | YTD 2017 / YTD 2016 | YTD 2017 | YTD 2016 |
|---|---|---|---|---|---|---|
| ATS | -63.33% | 777 | 2,119 | -32.79% | 7,986 | 11,883 |
| CT6 | +7.62% | 890 | 827 | +124.06% | 6,287 | 2,806 |
| CTS | -40.14% | 786 | 1,313 | -36.60% | 5,845 | 9,219 |
| ELR | -86.67% | 2 | 15 | -96.87% | 16 | 511 |
| ESCALADE | +2.64% | 1,748 | 1,703 | -2.15% | 11,905 | 12,167 |
| ESCALADE ESV | -17.12% | 978 | 1,180 | +2.17% | 7,901 | 7,733 |
| SRX | -99.92% | 1 | 1,307 | -99.28% | 147 | 20,381 |
| XT5 | +11.17% | 5,504 | 4,951 | +190.34% | 35,302 | 12,159 |
| XTS | -41.58% | 541 | 926 | -26.16% | 7,911 | 10,713 |
| CADILLAC TOTAL | -21.71% | 11,227 | 14,341 | -4.88% | 83,300 | 87,572 |
Sales Results - July 2017 - USA - Buick
| MODEL | JUL 2017 / JUL 2016 | JULY 2017 | JULY 2016 | YTD 2017 / YTD 2016 | YTD 2017 | YTD 2016 |
|---|---|---|---|---|---|---|
| CASCADA | -33.33% | 422 | 633 | -17.58% | 3,877 | 4,704 |
| ENCLAVE | -41.98% | 4,206 | 7,249 | -24.92% | 23,654 | 31,503 |
| ENCORE | -6.28% | 6,488 | 6,923 | +12.63% | 48,819 | 43,344 |
| ENVISION | +97.89% | 2,812 | 1,421 | +762.98% | 25,432 | 2,947 |
| LACROSSE | -56.42% | 1,028 | 2,359 | -18.29% | 13,336 | 16,322 |
| REGAL | -62.12% | 874 | 2,307 | -36.37% | 7,356 | 11,560 |
| VERANO | -93.42% | 136 | 2,068 | -77.32% | 3,808 | 16,787 |
| BUICK TOTAL | -30.46% | 15,966 | 22,960 | -0.70% | 126,282 | 127,167 |
Sales Results - July 2017 - USA - GMC
| MODEL | JUL 2017 / JUL 2016 | JULY 2017 | JULY 2016 | YTD 2017 / YTD 2016 | YTD 2017 | YTD 2016 |
|---|---|---|---|---|---|---|
| ACADIA | +30.29% | 9,722 | 7,462 | +43.98% | 65,717 | 45,644 |
| CANYON | -21.83% | 2,761 | 3,532 | -15.53% | 17,649 | 20,894 |
| SAVANA | +188.57% | 2,095 | 726 | +54.39% | 18,835 | 12,200 |
| SIERRA | -10.99% | 19,963 | 22,428 | -7.59% | 119,116 | 128,894 |
| TERRAIN | -38.98% | 5,721 | 9,375 | -14.74% | 47,963 | 56,252 |
| YUKON | -6.56% | 4,370 | 4,677 | -3.27% | 23,897 | 24,705 |
| YUKON XL | -5.35% | 2,780 | 2,937 | +1.60% | 17,410 | 17,135 |
| GMC TOTAL | -7.28% | 47,412 | 51,137 | +1.59% | 310,587 | 305,724 |
Sales Results - July 2017 - USA - GM Totals
| BRAND | JUL 2017 / JUL 2016 | JULY 2017 | JULY 2016 | YTD 2017 / YTD 2016 | YTD 2017 | YTD 2016 |
|---|---|---|---|---|---|---|
| CHEVROLET TOTAL | -15.28% | 151,502 | 178,820 | -5.51% | 1,120,384 | 1,185,710 |
| CADILLAC TOTAL | -21.71% | 11,227 | 14,341 | -4.88% | 83,300 | 87,572 |
| BUICK TOTAL | -30.46% | 15,966 | 22,960 | -0.70% | 126,282 | 127,167 |
| GMC TOTAL | -7.28% | 47,412 | 51,137 | +1.59% | 310,587 | 305,724 |
| GM USA TOTAL | -15.40% | 226,107 | 267,258 | -3.85% | 1,640,553 | 1,706,173 |
In the first seven months of 2017, General Motors U.S. sales decreased 3.8 percent to 1,640,553 vehicles. Retail sales during the same time frame decreased 2.8 percent to 1,335,265 units.
About The Numbers
- All percent change figures compared to GM July 2016 sales, except as noted
- There were 25 selling days in July 2017 and 26 selling days in July 2016
- Starting in September 2016, GM began reporting sales of the Chevrolet City Express and Low Cab Forward on a single line entitled Commercial Truck
Further Reading & Sales Reporting
- GM news
- Running GM sales results
- Running Chevrolet sales results
- Running Cadillac sales results
- Running Buick sales results
- Running GMC sales results
- July 2017 GM sales results
- U.S. GM July 2017 sales results
- U.S. July 2017 Chevrolet sales results
- U.S. July 2017 Cadillac sales results
- U.S. July 2017 Buick sales results
- U.S. July 2017 GMC sales results
- GM Canada July 2017 sales results
- Canada July 2017 Chevrolet sales results
- Canada July 2017 Cadillac sales results
- Canada July 2017 Buick sales results
- Canada July 2017 GMC sales results
- GM China July 2017 sales results
- Global July 2017 Cadillac sales results
- U.S. GM July 2017 sales results
Comments
Very troubling sign–weakness in SUVs/cuvs! Other than Equinox, Acadia, XT5, believe majority of remaining SUVs are down including the cash cow large SUVs. Total Escalades, Yukons, Suburbans and Tahoe down.
Snowball chance in hell inventory level will be 70 days end of year.
Terrain and Equinox are launching… so a brief decline should be expected. The same goes for Traverse and Enclave. This isn’t so much a weakness as a model cadence turnover. The days to turn is vital to watch here, and these are turning extremely quickly.
But the decrease in Trax/Encore sales volumes definitely shows a weakness. They are being squeezed by the Honda HR-V and Toyota CH-R. Not sure it will get much better until new models arrive, as Nissan has a new B-segment CUV (Rogue Sport) on the way, as does Ford (EcoSport).
The full-size SUVs are also turning very quickly with no incentives, so I wouldn’t focus too much on the July dip, as it appears to be seasonal.
The new Blazer or the Cadillac CUVs can’t come soon enough…
Great job GM, you sold the most trucks and made mountains of profits over Ford, while they keep trying to giving their junk Fords away trying to be #1. Ford better try harder at give away trucks next month HAHAHAHA!!!!!
Uh, the Silverado and Sierra totaled just under 66,000, while the F-Series sold over 69,000 for the month, so no.
Acadia is just killing it despite people going nuts about how dumb GM was to downsize it.
What is classified as commercial truck? Anything above 3500 GM sells?
Not sure what the overall verdict will be with the smaller Acadia. time will tell. The downsizing is to put it in a different segment so not to compete against the Enclave (or vice-a-versa) since the 2 are in the same showroom. I don’t completely buy into that. Yes the two models (gen 1) were roughly the same, but I would argue they cater to 2 different crowds – I see a lot of soccer moms in Enclaves vs more men driving Acadias. To me it’s a marketing thing, do a better job marketing to differentiate the 2 models. The true test is once the (gen 2) Enclave is in place to see how that numbers shake out.
“I see a lot of soccer moms in Enclaves vs more men driving Acadias…”
Boy, I don’t know where you live, but in southeast Michigan, the Acadia is *the* upper/middle class soccer mom vehicle. They are all over the place with women ages 30-50 driving them around, filling up school and playing field parking lots.
It was a very smart move to downsize the Acadia and keep the Enclave at the bigger size. GM needs to differentiate and not have 3 vehicles that are all the same size btw the 3 non-luxury brands. I was concerned keeping the Acadia name for a significantly different vehicle would be a problem, but it seems to not be a problem.
My concern, going forward, is that the Chevy Blazer (which will be the same size as the new Acadia) will undercut the Acadia high-level of sales, nor take away too much from the revamped (and likely even more expensive than it is now, bigger Traverse). It will be tricky, and I’m not sure if GM can thread that needle.
The Chevrolet City Express and Isuzu-based LCF trucks go under Commercial Trucks on the sales chart.
Last week during GM’s earnings conference call, management again confirmed 2017 EPS of $6.00 to $6.50 per share. They must have known that July sales would be down 15%, yet they didn’t cut guidance?
Transaction prices are up $1,000, which must be helping profits. Also, GM continues to reduce operating expenses in a big way.
We also see big drops in sales for Traverse, Enclave and Terrain, due to new model changeovers. These are all higher volume vehicles which have significant volume potential, like the all new Acadia, XT5 and Equinox.
Keep in mind, the SAAR selling rate last July was 17.75 mil., which was very strong, compared to the July 2017 SAAR number of 16.69 mil..
GM’s rental fleet sales have also dwindled to under 1% of monthly sales.
Past peak auto sales can still be healthy and last for a long time, based on historical sales graphs.
GM’s strategy of let’s sell fewer and make more on those we do sell is one that can make numbers on financial statements look good, but it’s not fool proof. When you continually raise prices, you can chase loyal customers away and some of them won’t be back, even with 20% off or 0% APR. The ’18 equinox is a perfect example. It has some features and advantages, but it’s smaller than the last one and more expensive than ever.
the car rental companies are buying less cars because people are renting less cars and using their smart phone to get a ride. you do not need to hunt or pay for a parking space when you get where you are going like you would have to do with a rental car
June , July and August are typically referred to as the Summer Sales Season , a decline in the middle of summer of 15% definitely is not a good sign . Plus GM has a 900,000+ inventory of unsold vehicles which is the highest of all automakers , another bad sign . Toyota past Ford into the #2 spot and is closing in on GM , not good .
Wall Street was also suprised that sales for GM fell as much as they did . GM is making money selling fewer vehicles but GM is a major manufacturer and market share is suffering as a result .
Had GM brought out the replacements for the Terrain and Equinox in 2017 like was their initial plan sales may look a bit better , this is a hot segment right now and GM didn’t have the product to compete .
GM is also looking at future product plans that consist of slowing production at their factories going into the new model year which is a negative for the bottom line . GM’s economist thinks that the second half of the year will be okay but their is just to many signs that that may be wishful thinking .
Too expensive for what they are. You can really cross shop BMW with Chevy now, which is laughable. Next bail out coming, this high price, low reliability , 1950 engine technology can only be supported by a government. Rural areas with automotive options as small as the gene pool are barely keeping this UAW pig afloat.