DETROIT, Jan. 5, 2021 /PRNewswire/
--
- Fourth-quarter and full-year trifecta with total, retail and
fleet share gains
- GM is the 2020 full-size pickup sales leader with 839,691
deliveries, thanks to Chevrolet Silverado sales gains and record
GMC Sierra deliveries
- Total 2020 pickup sales matched 2019 results; retail
deliveries were up 2 percent
- Seven of every 10 full-size SUVs retail units sold in Q4
were a Chevrolet Tahoe, Suburban or GMC Yukon thanks to conquest
and strong pent-up demand for all-new models
- All-new Cadillac Escalade retook market leadership in its
segment in Q4, with 43 percent of new Escalades
transacting above $100,000
General Motors Co. (NYSE: GM) announced today it sold 771,323
vehicles in the fourth quarter of 2020. Total sales for the quarter
were up 5 percent year over year. GM had its best fourth quarter
retail sales since 2007, with deliveries up 12 percent. Sales for
the calendar year were 2,547,339 units, with total deliveries down
12 percent year over year and retail deliveries down 6 percent.
GM estimates it gained market share across the board in total,
retail and fleet deliveries for both the fourth quarter and
calendar year.
Retail sales for the industry began to recover in May and
reached pre-pandemic levels during the fourth quarter. Sales to
fleets are recovering but remain sharply lower, especially daily
rental deliveries. Average transaction prices set fourth-quarter
and full-year records at $41,886 and
$39,229, respectively.
"GM outperformed the industry in the quarter and the full year
by a significant margin because our manufacturing and supply chain
teams and dealers helped keep people safe at work and our launches
on track," said Steve Carlisle, GM
executive vice president and president, GM North America.
"Extraordinary teamwork has set up everyone to succeed in 2021 as
the economy continues to recover and we further ramp up truck and
SUV production."
In 2021, GM expects to have a full year of production of the
all-new Cadillac Escalade, GMC Yukon, Chevrolet Tahoe and Suburban.
GM has also announced plans to build full-size pickups in
Oshawa, Ontario starting in early
2022.
GM is especially bullish about its new full-size SUVs, which
began launching at the company's Arlington Assembly plant in
Texas in April.
"Chevrolet, GMC and Cadillac set the bar high for these products
in terms of technology, refinement and utility, and sales are
exceeding our expectations," Carlisle said. "We launched them on
time despite the pandemic, and the team in Arlington is working around the clock to meet
demand. We have quickly recaptured all the short-term gains our
competitors made as we transitioned to the all-new models."
Sales highlights (vs. 2019)
- For the second consecutive year, the GMC Sierra had its best
fourth-quarter and full-year retail and total sales ever, with
total deliveries up 14 percent in the quarter and 9 percent
for the year
- Fourth-quarter GMC retail deliveries were up 14 percent, with
five models up by double digits, including the Yukon and Yukon XL (up 41 percent), Canyon (up
42 percent), Sierra (up 14 percent) and Acadia (up
26 percent)
- Fourth quarter retail deliveries for Chevrolet were up 12
percent, driven by the success of the all-new Trailblazer and
sharply higher sales for almost every other model, including the
Corvette (up 158 percent), Bolt EV (up 106 percent), Tahoe (up
78 percent), Suburban (up 56 percent), Traverse (up 31 percent),
Colorado (up 21 percent),
Silverado (up 15 percent) and Malibu (up 11 percent)
- Chevrolet Silverado crew cabs had their best quarter and
calendar-year retail and total sales ever, and the Chevrolet
Traverse had its best-ever fourth-quarter total and retail
sales
- Cadillac outperformed the retail luxury industry with its best
fourth-quarter retail share and sales since 2016. Retail deliveries
were up 16 percent in the quarter, driven by the successful
launches of the new CT4, CT5 and Escalade, which was up 19 percent.
The Cadillac XT5 was up 10 percent
- Fourth-quarter retail deliveries of the Buick Enclave were up
21 percent and the all-new Buick Encore GX is now the brand's
best-selling nameplate
- GM grew share of all three fleet segments. Total fleet share
increased nearly 2 points in the fourth quarter and for the
calendar year
- Sales to small businesses were up 27 percent in the fourth
quarter and up 5 percent for the full year
GM expects the broader U.S. economic recovery to continue in
2021.
"We look forward to an inflection point for the U.S. economy in
spring," said GM Chief Economist Elaine
Buckberg. "Widening vaccination rates and warmer weather
should enable consumers and businesses to return to a more normal
range of activities, lifting the job market, consumer sentiment and
auto demand."
GM ended 2020 with inventory of 410,875 units, including
in-transit units, down 205,148 units year over year. Fourth-quarter
incentive spending as a percent of ATP was 10.7 percent, close to
the industry average, according to J.D. Power PIN estimates.
General Motors (NYSE:GM) is a global company
committed to delivering safer, better and more sustainable ways for
people to get around. General Motors, its subsidiaries and its
joint venture entities sell vehicles under
the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands.
More information on the company and its subsidiaries,
including OnStar, a global leader in vehicle safety and
security services, can be found at https://www.gm.com.
Forward-Looking Statements
This press release and
related comments by management may include forward-looking
statements. These statements are based on current expectations
about possible future events and thus are inherently uncertain. Our
actual results may differ materially from forward-looking
statements due to a variety of factors, including: (1) our ability
to deliver new products, services and customer experiences in
response to increased competition in the automotive industry; (2)
our ability to timely fund and introduce new and improved vehicle
models that are able to attract a sufficient number of consumers;
(3) the success of our crossovers, SUVs and full-size pick-up
trucks; (4) our ability to successfully and cost-effectively
restructure our operations in the U.S. and various other countries
and initiate additional cost reduction actions with minimal
disruption; (5) our ability to reduce the costs associated with the
manufacture and sale of electric vehicles and drive increased
consumer adoption; (6) unique technological, operational and
regulatory risks related to our autonomous vehicle regulations; (7)
global automobile market sales volume, which can be volatile; (8)
our significant business in China
which is subject to unique operational, competitive and regulatory
risks as well as economic conditions in China; (9) our joint ventures, which we cannot
operate solely for our benefit and over which we may have limited
control; (10) the international scale and footprint of our
operations which exposes us to a variety of political, economic and
regulatory risks, including the risk of changes in government
leadership and laws (including labor, tax and other laws),
political instability and economic tensions between governments and
changes in international trade policies, new barriers to entry and
changes to or withdrawals from free trade agreements, changes in
foreign exchange rates and interest rates, economic downturns in
foreign countries, differing local product preferences and product
requirements, compliance with U.S. and foreign countries' export
controls and economic sanctions, differing labor regulations,
requirements and union relationships, differing dealer and
franchise regulations and relationships, and difficulties in
obtaining financing in foreign countries; (11) any significant
disruption at one of our manufacturing facilities could disrupt our
production schedule; (12) the ability of our suppliers to deliver
parts, systems and components without disruption and at such times
to allow us to meet production schedules; (13) prices of raw
materials used by us and our suppliers; (14) our highly competitive
industry, which is characterized by excess manufacturing capacity
and the use of incentives and the introduction of new and improved
vehicle models by our competitors; (15) the possibility that
competitors may independently develop products and services similar
to ours or that our intellectual property rights are not sufficient
to prevent competitors from developing or selling those products or
services; (16) our ability to manage risks related to security
breaches and other disruptions to our vehicles, information
technology networks and systems; (17) our ability to comply with
increasingly complex, restrictive, and punitive regulations
relating to our enterprise data practices, including the
collection, use, sharing, and security of the Personal Identifiable
Information of our customers, employees, or suppliers; (18) our
ability to comply with extensive laws and regulations applicable to
our industry, including those regarding fuel economy and emissions
and autonomous vehicles; (19) costs and risks associated with
litigation and government investigations; (20) the cost and effect
on our reputation of product safety recalls and alleged defects in
products and services; (21) any additional tax expense or exposure;
(22) our continued ability to develop captive financing capability
through GM Financial; and (23) significant increases in our pension
expense or projected pension contributions resulting from changes
in the value of plan assets or the discount rate applied to value
the pension liabilities or mortality or other assumption changes..
A further list and description of these risks, uncertainties and
other factors can be found in our Annual Report on Form 10-K for
the fiscal year ended December 31,
2018, and our subsequent filings with the Securities and
Exchange Commission. GM cautions readers not to place undue
reliance on forward-looking statements. GM undertakes no obligation
to update publicly or otherwise revise any forward-looking
statements.
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SOURCE General Motors Co.