GM sees growth slow in July 2012 on rental fleet decline
While it is a good point that retail sales for GM were only down 3% while the rest of the 6.4% decline was due to a drop in fleet sales – three of the four GM brands posted negative growth in July 2012 compared to July 2011. In addition to the drop in fleet sales, GM was hit by the fact that there were only 24 selling days in July 2012 while the July 2011 had 26 days – which played a part in the overall decline in sales growth. The good news is that with 201,237 vehicles sold last month, GM was still led the industry in sales for the July 2012 by a margin of almost 29,000 units.
The shining star for General Motors in July 2012 was Cadillac with a year over year increase of 20.7%. Cadillac was led in growth by the Escalade, which improved by 22.9% over the same month last year. The popular Cadillac SRX was second in terms of growth with an increase of 18.8% and the Escalade ESV was third with an improvement of 17.5%. When it comes to sales volume, the Cadillac SRX led the brand with 4,911 SUVs sold with the Cadillac CTS lineup coming in second with 4,743 coupes, sedans and sport wagons sold. In just its second month of sales, the new 2013 Cadillac XTS flagship sedan was third in sales with 1,739 new vehicles sold last month. On the year, Cadillac has sold 76,229 vehicles – marking an decline of 12.6% in sales compared to the same period last year but with the new XTS storming onto the scene and the new ATS soon to follow, I fully expect to see Cadillac’s numbers improve significantly over the second half of 2012.