GM’s latest sales report shows GM’s industry strength.
Despite a year that could have been a catastrophe, General Motors instead saw an 11% overall decline in sales. What is most remarkable is that GM actually saw an increase of about 5% in Q4, proving that sales have rebounded, despite the pandemic worsening.
“GM outperformed the industry in the quarter and the full year by a significant margin because our manufacturing and supply chain teams and dealers helped keep people safe at work and our launches on track,” said Steve Carlisle, GM executive vice president and president, GM North America. “Extraordinary teamwork has set up everyone to succeed in 2021 as the economy continues to recover and we further ramp up truck and SUV production.”
Both the Silverado and Sierra line saw a net increase in deliveries in 2020 compared to 2019. The GMC Sierra had its best fourth-quarter and full-year retail and total sales ever, with total deliveries up 14 percent in the quarter and 9 percent for the year. Chevrolet Silverado crew cabs had their best quarter and calendar-year retail and total sales ever. The Colorado and Canyon did not fare as well. Both of the smaller trucks saw declines of a bit more than 20%.
Unfortunately, the high-profit Suburban, Yukon, Tahoe, and Escalade also saw declines. Although Cadillac was down for the full year, Cadillac outperformed the retail luxury industry with its best fourth-quarter retail share and sales since 2016.
“We look forward to an inflection point for the U.S. economy in spring,” said GM Chief Economist Elaine Buckberg. “Widening vaccination rates and warmer weather should enable consumers and businesses to return to a more normal range of activities, lifting the job market, consumer sentiment and auto demand.”
One last note: We often highlight special deals here at GM-Trucks.com. In fact, GM has earned a reputation as a big discounter of new vehicles. However, the trend may be stabilizing. GM noted in its report that fourth-quarter incentive spending as a percent of ATP was 10.7 percent, close to the industry average, according to J.D. Power PIN estimates.