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Posts Tagged ‘GM sales’

GM Q2 Earnings More Than Double Even as Sales Slip

Globe’s 3rd-largest automaker ups full-year forecast.

by on Jul.21, 2016

GM has been rushing out an assortment of new models, including a remake of the Chevy Malibu.

General Motors saw its second-quarter profit more than double, reaching a record $2.87 billion, the maker announced on Thursday, handily beating Wall Street expectations.

The surge came despite the fact that GM has seen sales slip in recent months – even while the overall U.S. car market continues to grow. The results appear to validate the strategy of trimming back on lower-profit rental and other fleet sales in favor of growing the retail side of the sales ledger.

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“This was an outstanding quarter for GM,” said Chairman and CEO Mary Barra. “Our results were generated by strong retail sales in the U.S., record sales in China and a continued emphasis on improving the performance of our operations worldwide. We’ll continue to focus on driving profitable growth and leveraging our technical expertise to lead in the future of personal mobility.”

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Despite Diesel Dilemma, VW Snatches Global Sales Lead from Toyota

Toyota loses momentum due to production snags.

by on Apr.27, 2016

Despite some serious problems, VW could retain the sales lead during the second quarter.

It’s had to suspend sales of its popular diesels in the U.S. market, and it’s already taken an $18 billion hit in the wake of its ongoing diesel emissions scandal, but not all is doom-and-gloom for Volkswagen AG.

The embattled automaker can celebrate the fact that it surged into the global sales lead for the first quarter of 2016, narrowly squeaking by Japanese giant Toyota which has had its own problems in recent months. General Motors continued to hold down the third spot in the global sales sweepstakes.

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Whether VW can hold the lead for the rest of the year is far from certain. It was, in fact, the top-seller for the first half of 2016, only to slip behind Toyota once again as the diesel disaster began to take its toll. But wildcard factors have a way of upsetting the industry’s apple cart, and Toyota is currently dealing with problems that will likely scuttle its chances of regaining the sales crown for at least another quarter.

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GM, Ford Insist They Will Remain Profitable in Deep Recession

Taking a “forward lean” into a “downside scenario.”

by on Mar.28, 2016

GM's Alan Batey introducing the 2017 Chevy Bolt.

Seven years after Detroit’s auto industry nearly collapsed, officials at the two largest domestic makers are taking pains to assure investors they will not only survive but thrive during the next big economic downturn.

Fears that the U.S. car market has peaked after hitting record sales of 17.5 million vehicles last year has made Wall Street increasingly wary, driving down the share prices for all the domestic makers, even as they report strong profits. But two top General Motors and Ford executives painted very different pictures for investors as the New York Auto Show opened to strong public attendance.

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“We believe the market is eventually going to plateau, but not in the immediate future,” declared Alan Batey, president of GM North America, during the annual Automotive Summit sponsored by Bank of America Merrill Lynch. And even if sales do take a tumble, he stressed, “We have reduced our break-even point to between 10 million and 11 million annual sales for the industry.”

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GM Scores Third Consecutive Year of Record Global Sales

Detroit maker narrows gap with VW but still third in industry sales.

by on Jan.21, 2016

A Chevy Cruze in China, which has cemented its role as GM's largest global market.

While the increase was a modest 0.2%, General Motors nonetheless managed to eke out another global sales record in 2015, its third year in a row.

The Detroit-based maker today reported total sales came to 9.84 million, putting it just behind German rival Volkswagen AG. Toyota, which hasn’t yet reported its figures for 2015, is expected to retain the industry’s global sales crown, however.

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“GM continued to grow in 2015 as our focus on the customer and successful new vehicle launches more than offset the challenging conditions in South America and the curtailment of our presence in certain markets such as Russia,” GM President Dan Ammann said in a statement.

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GM, Ford, Buick Trend and Deliver Record Chinese Sales

by on Jan.08, 2016

The Ford Focus in China.

Despite the increasingly serious downturn in the Chinese economy, both Ford Motor Co. and General Motors Corp. managed to lock down record sales in China for 2015.

That bucks the trend that has hammered a number of their key competitors, including Japanese giant Toyota and embattled German maker Volkswagen. Both makers are upbeat, albeit playing things cautiously as they look ahead to 2016.

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So far, both GM and Ford have refrained from making any predictions about China’s market. However, executives from both companies are likely to be pressed for forecasts during the North American International Auto Show in Detroit next week.

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VW Sales Drop Below 10 Mil in Wake of Diesel Scandal

But other problems also cut into demand.

by on Jan.08, 2016

The VW badge gracing the maker's BUDD-e concept minivan revealed this week at CES.

The diesel emission scandal is likely to hammer Volkswagen to come, the maker facing a new federal lawsuit and at least 450 civil cases filed by owners – but the impact is already being felt by an automaker that entered 2015 literally on top of the world.

VW today revealed it sold 9.93 million vehicles through its varied brand portfolio last year, a decline of 2% worldwide. Dropping below the 10 million mark comes as more than just a psychological setback. It also means the German maker will fall into second, and possibly even third, place in the global automotive sweepstakes once its rivals all tally up their numbers.

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And VW has rapidly been losing momentum, December sales slipping 5.2% worldwide and 10% in the American market – where it was sued by the U.S. Justice Department on Monday. The maker could face as much as $20 billion in fines for violating the Clean Air Act by using a so-called “defeat device” to illegally pass emissions tests.

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Toyota Set to Regain Global Sales Crown Again

VW slipping back into second place as diesel scandal takes hit.

by on Dec.29, 2015

A new Toyota Prius and the outgoing model. Toyota hopes the 2016 remake will help boost momentum for what has been the world's best-selling hybrid.

With the impact of a cheating scandal nipping at the heels of its chief rival, Toyota appears ready to win the global sales race for 2015 again, something that seemed far less likely just a few months ago.

Going into the final months of the year, Volkswagen AG was posed to nab the sales crown from the Japanese giant. But VW sales have taken a serious hit since it was revealed in mid-September that the German maker had cheated on diesel emission tests.

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Both makers are still expected to finish 2015 with total sales of more than 10 million vehicles, a barrier that seemed difficult for any manufacturer to breach just a few years ago.

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Global GM Sales Slip 1.3% for First 9 Months of 2015

But maker counters that sales rose in most key regions.

by on Oct.15, 2015

GM wants to build the best cars, not sell the most cars, says CEO Mary Barra.

General Motors sold 7.15 million cars, trucks and crossovers around the world during the first nine months of 2015. That was down 1.3% compared to the same period the year before.

The Detroit giant pointed to a number of problems it faced during the first three quarters, including a weakening market in China, as well as economic problems in South America. If anything, GM officials see the glass as more than half full, noting sales actually increased in four of the world’s largest markets, including the United States.

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“Our unwavering focus on the customer is paying off in our largest and most important markets as we execute one successful launch after another in the right segments,” said GM President Dan Ammann. “At the same time, we have reacted quickly to challenging macroeconomic environments in other markets and have shown the discipline to exit situations where we see no long-term path to acceptable returns.”

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Luxury Utilities, Crossovers Push July Auto Sales to New Heights

Month finishes near 18-million-unit sales pace.

by on Aug.03, 2015

Small crossovers did well in July and so did Buick, which posted an 18% sales increase led by the Encore.

New vehicle sales remained robust as carmakers continued to post year-over-year gains in a market where the seasonally adjusted annual rate of sales, or SAAR, inched towards 18 million units.

General Motors, Chrysler, Ford, Nissan, Lexus, Audi, Subaru and Volkswagen all posted sales increases for July as the industry sales continued at their best tempo in more than a decade.

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GM posted a 6% increase, which included the best July results for the maker’s four brands combined since 2007. The month was paced by an 18% increase in Buick sales and an 8% increase in Chevrolet sales. Chevrolet’s results included a 24% increase in pickup, van and SUV sales, and the brand’s best July crossover sales ever.  (more…)

June Auto Sales Hit Record Levels

Crossovers, trucks, sport-utes continue leading charge.

by on Jul.01, 2015

The 2015 Lincoln Navigator sales boomed in June, rising 39% and helping Ford to an overall sales increase of 2% last month.

New vehicle sales continued their torrid pace for in the U.S. in June, helping the auto industry finished up the best six months in a decade with a slew of automakers posting sales increases or logging manufacturers sales records.

General Motors, FCA US, Ford, Nissan, Toyota, Audi, Volkswagen and Mazda all reported sales increases in the buoyant market lifted by strong demand for trucks and utility vehicles.

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FCA US LLC posted an 8% increase compared with sales in June 2014 and the group’s best June sales since 2006 and recorded its 63rd-monthly sales increase in a row. (more…)