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General Motors’ March Sales Up 21%

For first time, GM’s incentives below industry average.

by on Apr.01, 2010

Dealers for General Motors delivered 189,000 vehicles during March of 2010, up 21% from March of 2009. Total combined sales for GM’s Chevrolet, Buick, GMC and Cadillac brands in the U.S. were 185,406, up 34% from February.

Combined Total and Retail sales for Chevrolet, Buick, GMC and Cadillac have increased year-over-year for six straight months. Inventory is half of what it was a year ago, and 94% of it is  comprised of current models, a much healthier level than at any time in the recent past.

In a more important development for taxpayer owners, GM’s incentive costs dropped below the industry average for the first time in history according to J.D. Power figures. GM spent on average $2800 for incentives this March, down $2,000 from March of 2009 when it was insolvent and its future was in doubt. Six new relatively hot products contributed significantly to this improvement.

The average transaction price for the four brands is up $4,200 year-over-year, and according to Susan Docherty, vice president of marketing, is $4,000 higher than an unspecified industry average.

It is too early to tell if GM was able to increase its market share, an important indicator of its ability to grow, which is key to its ability to return to profitability and pay off its taxpayer loans.

Chart follows. (more…)