GM delivers best Q3 sales since 1980, 2.4M vehicles soldWed, 15 Oct 2014 13:33:00 EST
People are a weird sort. Even after registering over 70 recalls through the first three-quarters of 2014, General Motors saw its best Q3 results since Jimmy Carter was in the White House, registering over 2.4 million global sales between June and September on the back of strong results in the US and China.
US sales were marshaled by good results for GM's pickups, the Chevrolet Silverado and GMC Sierra, which bumped the manufacturer's truck market share to 35.6 percent, up nearly three points from Q1 2014. Buick has seen healthy growth as well, with the Encore dominating its segment for the sixth month running.
It was China, though, that really bolstered GM's sales, as the company's efforts to top last year's record-setting 3.16 million units continued apace. Small SUV sales saw massive growth, with Encore, Chevrolet Trax and Captiva figures jumping 90 percent in Q3. Brand-wise, Chevrolet, Cadillac and Buick all saw sales gains in the PRC, with each recording double-digit year-over-year jumps. Cadillac sales alone were up 63 percent compared to the first nine months of 2013.
Even Europe delivered a bit of good news, with GM's twins, Opel and Vauxhall, recording market share increases in 11 countries. Overall, this isn't a bad result for the General.
Scroll down for a press release on the good news.
GM Delivers its Best Third Quarter Global Sales Since 1980
Chevrolet up 9 percent in North America
Cadillac up 63 percent in China
Buick global sales up 7 percent
DETROIT – General Motors Co. (NYSE: GM) sold 2,449,595 vehicles around the world in the third quarter of 2014, up 2 percent compared with a year ago. It was the company's best third quarter since 1980. In the first nine months of 2014, GM sold 7,371,743 vehicles, up 2 percent.
Third quarter sales in the United States and China, the company's two largest markets, were up 8 percent and 14 percent, respectively. Year to date, sales in the United States and China were up 4 percent and 12 percent, respectively.
GM is on track to surpass sales of 3 million vehicles in China for the second consecutive year and the company expects to top last year's record sales of 3.16 million vehicles. During September, GM's cumulative sales in China surpassed 20 million vehicles.
"GM delivered its best third quarter global sales in 34 years thanks to solid growth in the United States and China, and steady improvement in Opel's market share," said GM CEO Mary Barra. "We have launches now underway, including the Chevrolet Colorado and GMC Canyon in North America, the Opel/Vauxhall Corsa in Europe, and the Buick Envision and Cadillac ATS-L in China, that will keep our momentum going."
Highlights (vs. 2013)
Chevrolet had record sales in China in the third quarter, up 13 percent to 169,830 units. For the first nine months of year, the brand is up 7 percent to a record 505,316 units. September was Chevrolet's best month ever in China.
Calendar year to date, Chevrolet sales in South Korea are at record levels.
The success of the new Chevrolet Silverado and GMC Sierra helped GM increase its estimated share of the U.S. retail market for large pickups from 32.7 percent in the first quarter of 2014 to 34.7 percent in the second quarter and 35.6 percent in the third quarter.
Buick's global sales were up 7 percent in the third quarter to 284,540 units and they are up 11 percent calendar year to date to 858,046 units, driven by strong growth in the United States and China. Buick's China sales were up 8 percent in the quarter to 220,578 units and they were up 11 percent to 670,999 units in the first nine months of the year.
In China, combined, sales of small SUVs – the Buick Encore, Chevrolet Trax and Captiva – were up 90 percent in the third quarter. In the United States, the Buick Encore has been the best-selling vehicle in its segment for six months in a row. The Chevrolet Trax will launch in the United States in early 2015.
Cadillac's global sales were up 4 percent in the third quarter and they are up 9 percent year to date, driven by strong growth in China. Cadillac's China sales were up 48 percent in the quarter to 18,665 units and they were up 63 percent to 52,425 units in the first nine months of the year.
Opel/Vauxhall gained market share in 11 European countries in the first nine months of this year, including Germany, where the brand earned 7 percent of the market, up 0.3 points.
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
By Brandon Turkus
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