U.S. GM Sales Down Two Percent In Third Quarter 2024

Comments

1. 

   The situation is alarming, isn’t it?
   1). 73% of Chevrolet models are losing market share and only 27% are gaining out of which half are electric cars that only just started selling. (In it’s biggest market smh).

   2). I’ve no idea where GMA got these numbers for Escalade ’cause according to General Motors Press Release Escalade sales have fallen 17.9%, that’s huge given that it’s their cash cow. I guess GMA is comparing regular wheelbase Escalade to the combined sales of Escalade and Escalade ESV. (You can do better GMA)!
   Cadillac; 57% of their models losing market share.
   3). 60% of buick models losing market share.
   4). GMA is again botching the Yukon numbers and as per GM press release Yukon lost 8.6% of it’s sales.
   The only positive is GMC sales, only 42% of modles losing market share. (Lol).
   But hey! Everything is alright, it’s all good ’cause EV sales are booming and growing faster than the market (lol). (Shhhhh GM EV sales account only 4.88% of their total vehicle sales).
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2. 

   I don’t think there’s cause for alarm. The sales look flat is all, but Cadillac is looking like a coin toss.
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3. 

   look 1 year into the future. look what isnt selling

   high profit margin vehicles are collapsing.

   as expected. ppl ran out of money. insurance is now a car payment.
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   1. 

      Trax and Envista with good numbers are indicators. Maybe Colorado/Canyon too, but Taco and Gladiator are dropping the ball.

      Everyone should have been ready for when small-ball baseball plays are needed. It’s time.
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4. 

   Just maybe if Cadillac would build the cars that we order it wouldn’t look so bad. I ordered a new 2025 CT4 and they haven’t pick it up to build yet. I ordered it in June so who is to blame for poor sales. no, us public.
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5. 

   Between the prices of the vehicles, lack of choice in vehicles, and insurance costs etc, its finally catching up to people. Thats with all car manufacturers, with the average sedan, which is almost non existent, hovering around the $40k mark, who can afford them? Average car payment is pushing $800 a month. 25 years ago, that was a house payment. Couple that with not everyone wants or needs a 4 cylinder suv box, or a huge v8 box pushing $100,000 that explains why sales are stalling. With only a few platforms, no redesigns, all these suvs share the platforms, engines, etc there no differentiating anymore. GM division are losing their identity, and Mary Barra is driving GM into the ground
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6. 

   Here before the right-wingers try to spin the Lyriq continuing to outsell every gas Cadillac except the Escalade as “nobody wants EVs”
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   1. 

      But was the juice worth the squeeze? The Lyriq looks like it will settle around mid 7000s for quarterly sales, 1500 more than the XT5. Was it worth stopping development of all the crossovers for 25% – 30% additional sales? The XT5 used to move over 15,000 units a quarter.
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      1. 

         This is a dishonest response. The Lyriq will eventually replace ONE of those crossovers (XT5); the Vistiq and Optic will eventually replace the other two.
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         1. 

            Yes, but for 25%-30%. The Optic and Vistiq may very well outsell their replacements by a similar margin as the Lyriq, but will they see the volume that the ICE crossovers had when they were new?
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            1. 

               How is that the right comparison? The market overall for expensive crossovers is obviously less than it was “when they were new”.
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            2. 

               “How is that the right comparison?” – Its when they were most competitive. BMW, Lexus, Audi, and Mercedes have crossovers with individual model Q2 2024 sales between 10K-20K. The reason the XT5 isn’t selling between 10K-15K now is because they abandoned it.
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            3. 

               So why are the XT4 and XT6 sales also below the Lyriq?

               At some point, don’t you have to face reality?
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            4. 

               I’ll give you a point for those two. Their sales have actually been flat for most of their lives, and they’re at the bottom of their segments. All of the crossovers are mediocre right now.

               But the point is that instead of working to improve these vehicles to have a steady plan b, they’ve taken a risk going full EV. If the EV demand grows, great, abandoning ICE customers doesn’t cost them as much, but if EV demand is slowing, they have nothing to fall back on (unlike the other brands). Is it worth alienating a customer base to match the sales of bottom tier vehicles?
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7. 

   All-in-all not really too bad given where interest rates are combined with still high ATP’s causing affordability issues.

   Man, I’d love to see GM’s source of sales and cross stopping data to see how many Stellantis owner/shoppers are opting for gm products instead. With Stellantis down 20% in Q3 those guys are doing their best to send their buyers to GM and Ford.
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8. 

   168 Bolt sales is interesting. GM Authority reported in July that GM’s inventory tool showed 103 in inventory, so another 65 have turned up (plus whatever else is still in inventory – Autotrader lists 21 more (8 EVs and 13 EUVs) so that makes 84 more Bolts in the US than previously known about. Did they come from Canada or is this confusion of Bolt EVs and Bolt EUVs?
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9. 

   Lost in all of this is the fact that Ford (F-series/Maverick/Ranger) has now handily surpassed GM as the truck sales leader: 791,091 to GM’s 722,328 which also includes HUMMER EV. Largely due to the Maverick at the #5 spot above the Taco with 135,199. And still no answer from GM.
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   1. 

      The Maverick is not a truck, it is a crossover with a bed, just like the Santa Cruz.
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      1. 

         I agree it isn’t a ‘real’ truck, but it is classified as a truck like the Ridgeline or Santa Cruz and those sales still count. Toyota will enter this segment soon – GM will wait until the market is saturated.
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10. 

    The media ignores just how sucessful Buick-GMC dealers selling more than many brands per quarter, and with potential to grow further.
    200,000 units at a premium price is impressive. Low R&D, shared parts with Chevy, and shared Buick cost w/China, make this an important driver of profit
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11. 

    3Q last year, for whatever reason, the Escalade and Escalade ESV sales were reported separately. So you are missing 3879 Escalade ESV 3Q sales and are missing 2023 YTD 11,874 sales from the ESV. This year, Escalade and ESV are reported together, it appears.
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