General Motors Company reported 694,638 new vehicle deliveries for the third quarter of 2018 in the U.S. market, an 11.1 percent decrease compared to the third quarter of 2017. Sales decreased at each brand, including Chevrolet, Cadillac Buick and GMC.
The comparison to the third quarter of 2017 is rather distorted, since that period included a sales enabler of pent-up demand and replacement demand following Hurricane Harvey that swept through Texas. Meanwhile, September 2018 experienced a sales disabler due to weather-related impact associated with Hurricane Florence.
GM is also quick to point out that Average Transaction Prices (ATPs) rose about $700 per unit on a year-over-year basis to a new third quarter record of $35,974.
“We entered the quarter with very lean inventories of our 2018 model full-size pickups, so we focused on driving a very strong mix of SUVs, crossovers and mid-size pickups,” said Kurt McNeil, U.S. vice president of Sales Operations. “We also transitioned to the 2019 model year far earlier than some key competitors, which allowed us to reduce incentives while others raised them sharply.”
“The U.S. economy and auto industry remain strong,” added GM Chief Economist Elaine Buckberg. “A new United States-Mexico-Canada trade agreement will reduce uncertainty for the auto industry and all three countries. Consumer confidence is high and rising, thanks to the robust job market, faster wage growth and the boost to take-home pay from tax reform. We believe 2018 will be the fourth year in a row with total industry sales above 17 million units.”
“Our brands are very well-positioned for the fourth quarter when our next wave of new products start shipping in high volume,” added McNeil.
GM’s key new product launches are all on track, including:
- Dealers began receiving their first shipments of the light duty 2019 Chevy Silverado and 2019 GMC Sierra in September
- Cadillac dealers also began delivering the first-ever 2019 Cadillac XT4 small crossover
- Late in the fourth quarter, Chevrolet will begin production of the all-new 2019 Blazer crossover
GM Sales Notes – U.S. Q3 2018
Sale types:
- Total GM Q3 2018 sales decreased 11.1 percent to 694,638 units
- GM did not provide any information on retail vs. fleet deliveries, a significant and notable departure from the way it reported previously (on a monthly basis), and the way in which it promised to continue to report after switching to quarterly reporting.
- However, GM did provide the following information:
- Fleet deliveries increased 5 percent, and were about 21 percent to total sales during the quarter.
- More than half of fleet sales were to Commercial and Government customers.
- Rental deliveries are on track to be about 10 percent of total sales for the calendar year, equal to 2017 and among the lowest in the industry
- Fleet deliveries increased 5 percent, and were about 21 percent to total sales during the quarter.
- Commercial deliveries in the third quarter of 2018 increased 8 percent year-over-year and 12 percent in the first three quarters. By comparison, the division grew at an average annual rate of 7 percent from 2012-2017.
- The leadership of Chevrolet and GMC in the large SUV segment continued, with combined deliveries up 12 percent in the third quarter.
- Combined sales of GM mid-size pickup trucks, the Chevrolet Colorado and GMC Canyon, increased 6 percent, representing the best third quarter for GM midsize pickup truck sales since 2004.
Average Transaction Prices (ATPs) & Incentive Spending:
- GM incentive spending during the third quarter was 12.0 percent of Average Transaction Prices (ATPs), according to J.D. Power PIN estimates, below the industry average of 12.1 percent and 2-6 percentage points below domestic and some Asian competitors.
- GM’s third quarter incentive spending was sharply lower than the company’s first half average, which was 13.6 percent. Spending was down 1.6 percentage points year-over-year in the quarter.
Inventory:
- At the end of Q3 2018, GM’s dealer inventory was about 22,000 lower year-over-year, which the automaker described as being “at healthy levels”
SAAR:
- GM did not provide any information about its U.S. light vehicle SAAR for the third quarter
Chevrolet sales decreased 11.4 percent to 485,019 units:
- Chevrolet Bolt EV sales decreased 41.15 percent to 3,949 units
- Chevrolet Camaro sales decreased 15.8 percent to 14,448 units
- Chevrolet Colorado sales increased 6.81 percent to 34,963 units
- Chevrolet Corvette sales decreased 10.51 percent to 4,639 units
- Chevrolet Cruze sales decreased 27.41 percent to 31,971 units
- Chevrolet Equinox sales decreased 1.6 percent to 78,014 units
- Chevrolet Express sales decreased 6.27 percent to 17,509 units
- Chevrolet Impala sales decreased 16.16 percent to 16,290 units
- Chevrolet Low Cab Forward sales totaled 584 units
- Chevrolet Malibu sales decreased 45.79 percent to 31,041 units
- Chevrolet Silverado sales decreased 14.34 percent to 133,329 units
- Chevrolet Sonic sales increased 19.61 percent to 7,283 units
- Chevrolet Spark sales increased 51.88 percent to 7,029 units
- Chevrolet Suburban sales increased 10.79 percent to 15,572 units
- Chevrolet Tahoe sales increased 20.13 percent to 28,951 units
- Chevrolet Traverse sales increased 3.14 percent to 32,908 units
- Chevrolet Trax sales decreased 11.22 percent to 20,549 units
- Chevrolet Volt sales increased 22.94 percent to 5,429 units
- Other Chevrolet sales totaled 561 units, a total that includes discontinued models – the Chevy Caprice, Captiva Sport, City Express, and SS
Cadillac sales decreased 10.7 percent to 37,291 units:
- Cadillac ATS sales decreased 24.92 percent to 2,281 units
- Cadillac CT6 sales decreased 13 percent to 2,376 units
- Cadillac CTS sales increased 21.35 percent to 3,695 units
- Cadillac Escalade sales increased 1.9 percent to 9,533 units
- GM no longer breaks out sales of the regular-wheelbase Escalade vs. the extended-wheelbase Escalade ESV, with all Escalade sales now being reported on the single Escalade line. For this reason, Escalade ESV sales show a 100 percent drop to 0 units.
- Cadillac XT4 sales totaled 212 units, representing the first sales of the small crossover
- Cadillac XT5 sales decreased 24.69 percent to 15,093 units
- Cadillac XTS sales increased 15.42 percent to 4,101 units
Buick sales decreased 7.3 percent to 45,911 units:
- Buick Cascada sales increased 2.9 percent to 1,101 units
- Buick Enclave sales increased 7.06 percent to 12,807 units
- Buick Encore sales decreased 5.88 percent to 21,112 units
- Buick Envision sales decreased 25.96 percent to 5,803 units
- Buick LaCrosse sales decreased 31.15 percent to 2,290 units
- Buick Regal sales increased 11.36 percent to 2,793 units
- Buick Verano sales decreased 98.67 percent to 5 units; the model has been discontinued and has not been replaced in the North American market
GMC sales decreased 11.3 percent to 126,417 units:
- GMC Acadia sales decreased 49.65 percent to 13,485 units
- GMC Canyon sales increased 0.52 percent to 8,425 units
- GMC Savana sales decreased 35.18 percent to 4,815 units
- GMC Sierra sales decreased 7.15 percent to 51,368 units
- GMC Terrain sales increased 14.02 percent to 27,428 units
- GMC Yukon sales increased 68.52 percent to 20,896 units
- GM no longer breaks out sales of the regular-wheelbase Yukon vs. the extended-wheelbase Yukon XL, with all Yukon sales now being reported on the single Yukon line. For this reason, Yukon XL sales show a 100 percent drop to 0 units.
In the first nine months of 2018, GM U.S. sales decreased 1.2 percent to 2,168,808 units.
Sales Results - Q3 2018 - USA - Chevrolet
| MODEL | Q3 2018 / Q3 2017 | Q3 2018 | Q3 2017 | YTD 2018 / YTD 2017 | YTD 2018 | YTD 2017 |
|---|---|---|---|---|---|---|
| BOLT EV | -41.15% | 3,949 | 6,710 | -17.45% | 11,807 | 14,302 |
| CAMARO | -15.80% | 14,448 | 17,160 | -25.87% | 39,828 | 53,727 |
| COLORADO | +6.81% | 34,963 | 32,733 | +26.26% | 104,838 | 83,034 |
| CORVETTE | -10.51% | 4,639 | 5,184 | -21.23% | 14,881 | 18,891 |
| CRUZE | -27.41% | 31,971 | 44,046 | -26.52% | 109,662 | 149,234 |
| EQUINOX | -1.60% | 78,014 | 79,281 | +10.17% | 234,379 | 212,735 |
| EXPRESS | -6.27% | 17,509 | 18,680 | +9.04% | 58,696 | 53,828 |
| IMPALA | -16.16% | 16,290 | 19,431 | -13.38% | 43,952 | 50,743 |
| LOW CAB FORWARD | * | 584 | * | * | 1,870 | 0 |
| MALIBU | -45.79% | 31,041 | 57,263 | -23.88% | 107,458 | 141,162 |
| OTHER | * | 561 | * | * | 3,302 | 0 |
| SILVERADO | -14.34% | 133,329 | 155,650 | +1.39% | 424,403 | 418,590 |
| SONIC | +19.61% | 7,283 | 6,089 | -25.78% | 17,848 | 24,047 |
| SPARK | +51.88% | 7,029 | 4,628 | +33.19% | 18,428 | 13,836 |
| SUBURBAN | +10.79% | 15,572 | 14,056 | +16.62% | 45,433 | 38,959 |
| TAHOE | +20.13% | 28,951 | 24,100 | +15.00% | 79,474 | 69,109 |
| TRAVERSE | +3.14% | 32,908 | 31,906 | +20.41% | 106,998 | 88,864 |
| TRAX | -11.22% | 20,549 | 23,146 | +12.42% | 67,538 | 60,077 |
| VOLT | +22.94% | 5,429 | 4,416 | -13.72% | 13,243 | 15,348 |
| CHEVROLET TOTAL | -11.38% | 485,019 | 547,310 | -0.80% | 1,504,038 | 1,516,192 |
Sales Results - Q3 2018 - USA - Cadillac
| MODEL | Q3 2018 / Q3 2017 | Q3 2018 | Q3 2017 | YTD 2018 / YTD 2017 | YTD 2018 | YTD 2017 |
|---|---|---|---|---|---|---|
| ATS | -24.92% | 2,281 | 3,038 | -2.14% | 10,028 | 10,247 |
| CT6 | -13.00% | 2,376 | 2,731 | -10.56% | 7,270 | 8,128 |
| CTS | +21.35% | 3,695 | 3,045 | +8.30% | 8,777 | 8,104 |
| ESCALADE | +68.46% | 9,533 | 5,659 | +72.60% | 27,299 | 15,816 |
| ESCALADE ESV | -100.00% | 0 | 3,696 | -100.00% | 0 | 10,619 |
| XT4 | * | 212 | * | * | 212 | 0 |
| XT5 | -24.69% | 15,093 | 20,042 | -5.73% | 46,983 | 49,840 |
| XTS | +15.42% | 4,101 | 3,553 | +15.94% | 12,664 | 10,923 |
| CADILLAC TOTAL | -10.73% | 37,291 | 41,773 | -0.53% | 113,240 | 113,846 |
Sales Results - Q3 2018 - USA - Buick
| MODEL | Q3 2018 / Q3 2017 | Q3 2018 | Q3 2017 | YTD 2018 / YTD 2017 | YTD 2018 | YTD 2017 |
|---|---|---|---|---|---|---|
| CASCADA | +2.90% | 1,101 | 1,070 | -25.02% | 3,393 | 4,525 |
| ENCLAVE | +7.06% | 12,807 | 11,963 | +12.15% | 35,227 | 31,411 |
| ENCORE | -5.88% | 21,112 | 22,432 | +7.70% | 69,747 | 64,763 |
| ENVISION | -25.96% | 5,803 | 7,838 | -25.74% | 22,617 | 30,458 |
| LACROSSE | -31.15% | 2,290 | 3,326 | -14.23% | 13,409 | 15,634 |
| REGAL | +11.36% | 2,793 | 2,508 | +22.45% | 11,008 | 8,990 |
| VERANO | -98.67% | 5 | 377 | -94.94% | 205 | 4,049 |
| BUICK TOTAL | -7.28% | 45,911 | 49,514 | -2.64% | 155,606 | 159,830 |
Sales Results - Q3 2018 - USA - GMC
| MODEL | Q3 2018 / Q3 2017 | Q3 2018 | Q3 2017 | YTD 2018 / YTD 2017 | YTD 2018 | YTD 2017 |
|---|---|---|---|---|---|---|
| ACADIA | -49.65% | 13,485 | 26,783 | -23.30% | 63,493 | 82,778 |
| CANYON | +0.52% | 8,425 | 8,381 | +8.61% | 25,273 | 23,269 |
| SAVANA | -35.18% | 4,815 | 7,428 | -30.57% | 16,779 | 24,168 |
| SIERRA | -7.15% | 51,368 | 55,323 | -1.45% | 152,242 | 154,476 |
| TERRAIN | +14.02% | 27,428 | 24,055 | +24.77% | 82,719 | 66,297 |
| YUKON | +68.52% | 20,896 | 12,400 | +73.58% | 55,418 | 31,927 |
| YUKON XL | -100.00% | 0 | 8,089 | -100.00% | 0 | 22,719 |
| GMC TOTAL | -11.26% | 126,417 | 142,459 | -2.39% | 395,924 | 405,634 |
Sales Results - Q3 2018 - USA - GM Totals
| BRAND | Q3 2018 / Q3 2017 | Q3 2018 | Q3 2017 | YTD 2018 / YTD 2017 | YTD 2018 | YTD 2017 |
|---|---|---|---|---|---|---|
| CHEVROLET TOTAL | -11.38% | 485,019 | 547,310 | -0.80% | 1,504,038 | 1,516,192 |
| CADILLAC TOTAL | -10.73% | 37,291 | 41,773 | -0.53% | 113,240 | 113,846 |
| BUICK TOTAL | -7.28% | 45,911 | 49,514 | -2.64% | 155,606 | 159,830 |
| GMC TOTAL | -11.26% | 126,417 | 142,459 | -2.39% | 395,924 | 405,634 |
| GM USA TOTAL | -11.06% | 694,638 | 781,056 | -1.22% | 2,168,808 | 2,195,502 |
About The Numbers
- All percent change figures compared to GM Q3 2017 sales, except if noted
- There were 76 selling days in Q3 2018 and 78 selling days in Q3 2017
- Starting in September 2016, GM began reporting sales of the Chevrolet City Express and Low Cab Forward on a single line entitled Commercial Truck. Upon discontinuing the City Express, GM stopped reporting sales of the model and began to split out Low Cab Forward sales separately.
- GM Vehicle Total includes discontinued Verano, ELR, SRX, Caprice, Captiva Sport, City Express and SS. GM refused to break out sales for these models upon request. We have broken out sales results of these discontinued models where possible. When doing so was not possible, we bundled these models into the “other” line item, per brand.
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
Comments
Woof. Lots of alarming numbers on here.
– The Acadia decreasing that much! How does that happen? Glad the Terrain is doing OK (I can’t stand the new design, but that’s clearly just me).
– Buick is the Enclave and Encore, and that’s it right now. GM needs to sort out what to do with the Envision & quick — it may be so nondescript that no matter where it is made, it won’t make much of an impact.
– Cadillac? Still a mess. Those XT5 numbers are blah, and those CUVs are its immediate path to prosperity. Here’s hoping the XT4 does better (I think it will, as it seems more refined and better priced / positioned for its class).
– Chevy? Some good things – the new-ish Equinox, Traverse and the big SUVs are doing well. The Bolt is basically done in the US — unless GM finally turns it into a true CUV; the Volt has a dedicated, if small, fan base — too bad GM hasn’t leveraged its tech with Buick or Cadillac in last 5 years. The cars are basically DOA, which stinks as i’ll be (hopefully) look at an Impala in a few years.
Trucks look to be TBD.
A whole lot for Mary & co to work on.
How would you say GM compares to the Q2 of 2018? Not only compared in Sales numbers (which shouldn’t be used as the only yard stick) but ATPs, Fleet and incentive spending.
The numbers for the Acadia are seriously concerning. Why would that happen??
Vanilla Ice.
The Acadia is a failure. GM downsized it to much.
Purely subjective. And my subjective thinking is that the Acadia is ugly and less macho looking than before.
Did Ram seriously outsell the Silverado for 3 months? Not good!
This was a transitional quarter.
The trucks not being up to speed has a lot to do with the decline especially in a slowing market.
The 2 keys are increased ATP and lowering cost as this is the key to survival in a declining market.
Ford has little control over cost and is still working to fix this. FCA has cost under control as they sell a lot of old product. But they still have issues on ATP as they live totally in fleets and rebates.
You can sell a lot of cars but if you are not making good money on the, then it matters little. GM went bankrupt selling a lot of cars.
The Acadia has had no incentives so income has not suffered as much. Also factor in the sales of the other new SUV models. The refresh also coming will temper sales as this is the oldest SUV model in class at GM.
Also now with the Blazer coming it is going to be a tough fight for all models in a competitive area.
GM can try to pat themselves on the back on the “discipline” they maintained in incentives. But remember this: the person who did not buy the Acadia because there were no incentives, probably went elsewhere to buy say a Pilot, Grand Cherokee, Highlander or Explorer. There is no guarantee that this customer will come back- ever. The Acadia is good, but not Benz or Jaguar or any other no-incentive brand good. GM’s blind obsession to short term profits are permeating into lack of investment in its factories, and painfully long product rollouts. This was the same recipe for failure that started before Roger Smith and led to the disaster of 2009.
Actually there is a current offer on the Acadia, I really think it’s been affected by two products within the GMC-Buick showroom. The new Terrain and the Enclave.
Clearly these are market trends the company couldn’t foresee. Has nothing to do with building trash for the last 9 decades or so. A taxpayer funded bailout is in order.
This is a perfect example why GM switched to quarterly reporting. Everyone tries to get a handle on what’s good and bad of p and then tries to come up with rational reasoning. Now it is only four times a year instead of 12 times that everyone looks into the crystal ball. Other than financial reporting for investors and stock holders to be reported by law, why does everyone feel they have a right to production or sales numbers.
Any business any where in the world has ups and downs and in the big picture it’s just a small pot hole. Next quarter when numbers go up everyone will say what a great job.
It seems that GM is too focused on how much they can sell vehicles for rather than how many vehicles they can sell. My think is that you offer the best product for the best or equal price as the competition and they will not only survive but will thrive. When you cheap out on your products and charge premium prices seem like a loosing strategy.
GM would have a low market value if not for GM Cruise AV. GM has a new fleet of CUVs and a fairly newish sedan line up.
GM could learn a bit from both FCA and Honda by exiting non-essencial segments while dumping capital into GMs strengths.
Cascada is a joke! Buick would be better off offering a Pacifica rival (I see Pacifica all over the NYC metro area) by way of a new non W body Buick G8. In addition, to keep things fresh, reskin Cruze and Malibu to keep up with Honda, Kia and other automakers that keep fresh looking line ups. Lastly, drop Terrain and offer a real off road Jeep rival.
PSA and FCA have taught us tgat larfe line ups can equal dead weight and limit profits.
Corvette sales keep decreasing,reliability?customers waiting for the C8?