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Mayank Marwah
Mayank Marwah
Articles (674) 

Key Takeaways From General Motors’ March Sales

The crossover and pickup segment records strong growth

April 13, 2018 | About:

Automaker General Motors (NYSE:GM) recorded a stunning March sales gain in the U.S., up 15.7% year over year to 296,341 units. For the first three months of the year, GM’s sales totaled 715,794 units, up 3.8% from the same period last year.

The March sales gain was powered by strong pickup and crossover demand. In addition, fleet sales for the month accounted for 22% of the company's total U.S. sales. If this trend continues, the company could report robust first-quarter profits.

How did the brands fare?

Chevrolet brand sales climbed 15.6% year over year, marking the company’s best  performance for March since 2007. Chevy crossover sales soared 39% year over year. The key contributor to the brand’s monthly growth was Chevy Silverado, whose sales spiked 24% to 52,547 units. In addition, Chevrolet was responsible for a 0.7% gain in the company’s retail market share.

GMC brand sales amounted to 56,646 units for the month, which represents a 4% sales gain from the prior-year period. The brand’s crossover sales increased 42%, but Sierra sales plummeted 7.46% to 17,082 units and Yukon XL sales fell 7.51% to 2,635 units.

Buick’s monthly sales grew 28% to 26,834 units. Encore and Envision remained the top two performers for the brand during the month in terms of volumes sold. Sales of other brands such as Cascada, LaCrosse, Regal and Verano amounted to 417 units, 2,017 units, 822 units and 28 units respectively.

Cadillac witnessed stunning sales growth during the month, up 12.7% year over year to 14,494 units. While Cadillac ATS climbed 3.8% to 1,419 units, CT6 sales soared 2.69% to 994 units. Furthermore, Escalade sales grew 18.75% to 1,957 units, becoming the brand's top-selling model for the month. At the end of March, the brand introduced the all-new Cadillac XT4 compact SUV, which will hit the market later this year.

Last word

The Detroit automaker posted staggering sales growth for the month, boosted by pickup and crossover sales. The seasonally adjusted annualized selling rate for light vehicles came in at 17.2 million vehicles. Mustafa Mohatarem, GM’s chief economist, commented on the performance for the month:

“Consumers are keeping the U.S. economy growing and auto sales very healthy. The job market is strong, consumer confidence is at decade-high levels and we see clear evidence that business owners are taking advantage of tax reform to upgrade their fleets.”

Stay tuned for further updates.

Disclosure: I do not hold any positions in the stocks mentioned in this article.

About the author:

Mayank Marwah
A seasoned writer with keen interest in the automotive, technology, telecommunication, retail and aerospace sectors.

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