General Motors (NYSE: GM) sold 771,323 vehicles in the fourth quarter of 2020. Total sales for Q4 were up 5% year over year. GM claimed its best fourth quarter retail sales since 2007, with deliveries up 12%. Sales for the calendar year were 2,547,339 units, with total deliveries down 12% year over year and retail deliveries down 6%. 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 GM transaction prices set fourth-quarter and full-year records at $41,886 and $39,229, respectively.
GM estimates it gained market share in total, retail and fleet deliveries for both the fourth quarter and calendar year. 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 percentage of ATP was 10.7%, close to the industry average, according to J.D. Power PIN estimates. Continue reading










Ford Motor 2020 US Sales Plunge -16%
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Ford Motor Company (NYSE: F) today reported its fourth quarter and full-year 2020 U.S. sales results. Ford says Q4 total industry sales totaled approximately 4.3 million vehicles – a decline of 2.8 percent over a year ago. In Q4 Ford Motor sales dropped 9.8%, a disastrous result for management.
For the year Ford sales dropped -15.6%. Ford sales were hurt by lower F-150 inventories from the ongoing consequences of the Q2 coronavirus production stoppage, which resulted in an awful F-150 transition to a revised pickup. Super Duty sales maintained pace and were up 14.1% while F-150 sales were off, gulp, -32.7%, which will make for a grim Q4 2020 financial loss. At the moment Ford executives appear to be in the automotive industry equivalent of an FBI witness protection program – no more sales results press conferences.
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