General Motors recently held its first-quarter 2020 earnings call with analysts, posting $300 million in income on $32.7 billion in revenue. Compared to Q1 of 2019, the results show an 86.7 percent decline in income and a 6.2 percent decline in revenue, outpacing all expectations for the quarter while surprising analysts and Wall Street. During the call, GM CEO Mary Barra indicated that incentives on the Chevrolet Silverado and GMC Sierra pickup trucks were kept low throughout April.
“Overall retail and fleet volumes were down in April, but we continue to see resilience in truck deliveries,” Barra told analysts during the call. “In April, GM’s incentives for light-duty pickup trucks were below the segment average.”
Later in the call, Brian Johnson, an analyst at Barclays Capital, asked about incentives for the GM pickups, including the Chevrolet Silverado and GMC Sierra, saying that the perception was that GM was offering a breadth of incentives on the models.
“Well, I would say you should look at ATP,” Barra answered. “GM Sierra had record-high ATPs at the levels of incentives that we had. And Brian, you’ve seen that our incentives ebb and flow based on what market tactics our competitors have as well. And just in April alone, which was just this last month, our incentives were lower than that of competition. So ATP is higher, discipline continues and the April incentives are another proof point that this is something that you’ll see up and down, but we’ve committed to being disciplined.”
As we reported in April, Chevrolet Silverado sales jumped 27 percent in Q1 of 2020, with 144,734 deliveries in the U.S., overtaking Ram’s 128,805 deliveries during the same time period. Chevrolet Silverado sales accounted for 27 percent segment share during the quarter.
Full-Size Pickup Truck Sales - Q1 2020 - USA
| MODEL | Q1 20 / Q1 19 | Q1 20 | Q1 19 | Q1 20 SHARE | Q1 19 SHARE |
|---|---|---|---|---|---|
| FORD F-SERIES | -13.07% | 186,562 | 214,611 | 35% | 41% |
| CHEVROLET SILVERADO | +26.61% | 144,734 | 114,313 | 27% | 22% |
| RAM RAM PICKUP | +7.31% | 128,805 | 120,026 | 24% | 23% |
| GMC SIERRA | +30.74% | 53,009 | 40,546 | 10% | 8% |
| TOYOTA TUNDRA | -13.71% | 21,658 | 25,100 | 4% | 5% |
| NISSAN TITAN | -40.80% | 5,732 | 9,683 | 1% | 2% |
| TOTAL | +3.09% | 540,500 | 524,279 |
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Comments
Now think how many more sales GM would have if they got rid of that crappy interior!
They would have gotten less because it would have costs another 10000$ cause litterally on the ram, with a older frame, engine, transmission and no engine that competes with the GM 6.2, the RAM Limited costs more than the Denali carbon pro. Also, i would take a Silverado custom over a ram bighorn any day.
GM Keeps Incentives Low In April for the Chevrolet Silverado and GMC Sierra trucks which is perfectly logical, both the Silverado and Sierra trucks are selling well and there was no need to drop the price or do anything that would take away from profits.
I’ll take my 6.2 LS3 AT4 over anything on the market. And I bought it before the 0% 84 months pandemic financing lol
I actually prefer the subtleness of the interior that GMC offers versus what Chevrolet, Dodge and Ford offer. When I look at the others interiors they all look very blingy. Not my cup of tea.
There sure are GM haters on here. I own a 2019 Sierra Denali 6.2 with performance package. In reality, the interior blows away the F150 Limited. Come on Ford, a hard plastic dash with an added small padded section over the gauge cluster and the glove box. All this for $72k? No wonder this outdated truck isn’t selling like it used too.
Just a bad comment all the way around. You just said something bad about the Ford, so according to your standards you are also a hater.
Either Mary Barra got some bad numbers or she is being outright dishonest.