“Consumers are being cautious, but they are not retrenching,” Johnson maintained.
General Motors Co. (NYSE: GM) today reported total August sales of 218,479 vehicles, an 18% increase compared with August 2010. The August sales gains were evenly divided among car, crossover and the truck segments that GM reports on.
Dealers reported that retail deliveries were up 22% compared with the same month a year ago and accounted for 74% of GM sales. Deliveries to fleet customers increased 8%, though. Earlier this year GM said it would target a mix of about 25% fleet in its retail sales mix, down from more than 30% earlier in the year.
All of General Motors four U.S. brands contributed to what appears an increase well beyond actual market growth as consumer confidence is dropping in a moribund U.S. economy. Hurricane Irene also negatively affected sales along the East Coast.
If this early estimate proves true when final numbers are in late today, GM will have increased market share during seven out of eight months for 2011, as it increases it market share to close to 20%. (the final numbers showed the industry increased 7.5% y-o-y)
“We’re carrying good momentum and we’re cautiously optimistic that we’ll see U.S. economic growth improve in the months ahead,” said Don Johnson, vice president, U.S. Sales Operations.
Once again GM said it expects that the full-year seasonally-adjusted annual rate (SAAR) for U.S. vehicle sales will be in the low end of our 13 – 13.5 million unit range.
“Consumers are being cautious, but they are not retrenching,” Johnson said.
However, the largest automaker in the U.S. also hedged by saying it is closely monitoring consumer sentiment and other economic indicators.”
|
GM Sales Aug. ‘11 |
Aug. ‘11 Total |
Change Aug. ‘10 |
Retail Aug. ‘10 |
CYTD |
CYTD Total v ‘10 |
CYTD Retail v ‘10 |
| Chevrolet | 152,779 | 16% | 22% | 1,206,332 | 14% | 23% |
| GMC | 36,471 | 40% | 26% | 261,753 | 27% | 23% |
| Buick | 16,021 | 12% | 19% | 126,493 | 25% | 27% |
| Cadillac | 13,208 | 4% | 14% | 100,449 | 9% | 17% |
| Total | 218,479 | 18% | 22% | 1,695,027 | 17% | 22% |
