Cars and Drivers

GM Sales Essentially Flat in October

2014-Chevrolet-Silverado
Source: courtesy of General Motors
General Motors Co. (NYSE: GM) posted total October sales of 226,819 vehicles, essentially flat with October 2013 sales of 226,402. Total retail sales for the first 10 months of 2014 totaled 1.83 million units.

GM’s new vehicle sales for October were forecast at 231,000 according to Edmunds.com and 236,000 according to Kelley Blue Book. Cadillac’s total sales dropped 8% year-over-year for the month and retail sales were down 9.6% for October.

Total Chevrolet deliveries are up 3.1% year-over-year and Corvette sales were up 145%. The Chevy Cruze posted a sales gain of 51% in October, and year-to-date sales are up 9.7%. For the first 10 months of the year, total sales were up 3.9%, including discontinued models. Cadillac sales were down 4.6% for the first 10 months of the year.

Chevy Silverado pickup sales rose 10.1% in October and are up 6.4% year-to-date. Chevy’s full-size Suburban SUV, however, saw sales fall 18.3% for the month, although sales are up 7.4% year-to-date. It is not too much to say that Silverado saved GM’s bacon again last month.

GM’s new SUVs and pickups continue to be big hits, and GM said its average transaction price in September was the highest ever at $34,700. GMC Sierra pickups sold 18,564 units in October, up 12.5% year-over-year, and total Sierra sales year-to-date are up 9%. Sales of the Savana SUV dropped 1.4% in September but are up about 9% year-to-date. GMC brand sales were down 0.8% in October and are up 8.8% for the year.

For the auto industry as a whole, GM’s forecast for the seasonally adjusted annual rate (SAAR) of sale is 16.4 million.

GM’s stock price was down about 1.37% Monday morning, at $30.97 in a 52-week range of $28.82 to $41.85.

ALSO READ: Ram, Jeep Lead October Chrysler Sales to 13-Year High

Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE

Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here
you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.


Click here
to match with up to 3 financial pros who would be excited to help you make financial decisions.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.