GM October sales beat analyst forecasts, with total sales up 4%, and YTD sales up 6%. As GM would have you prefer, it would rather you focus on the four core brands, which are up 13%, and 22% YTD. As the General’s dead brands fall away (Pontiac as of this past Sunday), comparisons to their former volumes do become increasingly irrelevant. A key component of GM’s October success? A higher number of new 2011 models to sell, which also brought down incentives. Details:
Chevrolet posted a 7% gain (+17% YTD), on the strength of a 54% increase in Equinox sales, as well as a strong start for the just introduced Cruze. Silverado sales eked out a modest 8% gain. The Equinox has a “11 day to turn” ratio, and GM is still struggling to keep up with demand. The Cruze sold a bit over 5k units in its roll-out month.
Buick, “the fastest growing major automotive brand in the US” (GM), saw a 39% increase, with YTD sales up a hot 55%. Buick’s sales are being fueled by the LaCrosse, Enclave and Regal. Buick claims that 42% of its buyers are coming from a non-GM brand.
GMC was up 30%, and is up 28% YTD. Sales momentum leaders are the Terrain (+85%) and Acadia (+65%)
Cadillac, which GM calls the fastest growing luxury brand, was up a more modest 15%, but is up a strong 40% for the year. Sales leaders are the CTS (+45%) and SRX (+27%). Retail sales increases were substantially higher than total increases, reflecting a lower percentage of fleet sales.
Automotive News reports that GM incentives were some $600 lower in October, a reflection of a higher mix of new 2011 models in the sales mix, as 2010 modals have been swept out more quickly than usual due to the substantially improved inventory control and higher sales.