Chevrolet marks sixth consecutive quarter of record-breaking sales
Chevrolet is holding its head high these days and with good reason. According to the latest GM news release, Chevrolet sold 1.18 million vehicles worldwide in the first three months of 2012. That’s a 6.5 percent increase over the first quarter of 2011, marking this the sixth consecutive quarter of record-breaking sales for the brand.
Of course, this kind of sales record bodes well for General Motors Company (NYSE: GM), whose stock has been languishing ever since its IPO in November, 2010. This past week, though, has seen the stock follow the general market into option expiration. Question is: when will GM stock reflect this kind of good news about global sales growth?
For the record, in the last two calendar years, Chevrolet has grown faster than other high-volume global brands, bringing its global market share to 6.3 percent.
“The strongest lineup of cars, trucks and crossovers in Chevrolet’s history delivered record-breaking sales in 2011 and equally impressive results in the first quarter of 2012,” said General Motors Chairman and CEO Dan Akerson. “To keep our momentum going, GM has more than 20 major vehicle launches in 2012, and some of the most important are Chevrolets, including the Sail in Asia, the Colorado in South America and the Spark in North America.”
The Chevrolet Cruze led the brand with global sales of more than 180,000 in the first quarter, a nearly 20-percent increase over 2011, making it the best-selling Chevrolet nameplate around the world. In addition, sales of the recently launched 2012 Aveo/Sonic small car and 2013 Malibu mid-size sedan are increasing as more vehicles become available in dealer showrooms.
The proof is in the details, so Chevrolet was not shy about providing those. Chevrolet posted significant sales increases over the same period last year in four of its top five markets including:
- In the United States Chevrolet sold 448,000 vehicles in the quarter, an increase of 7.6 percent. Passenger car sales remain strong with increasing demand for fuel-efficient vehicles like the Cruze, Malibu and Sonic.
- In China, Chevrolet sold a record 162,000 units in the quarter, an increase of 1.4 percent.
- In Brazil, Chevrolet remains competitive even though sales were down 4.2 percent for the first quarter to 137,000 units.
- In Mexico, Chevrolet sold 42,000 vehicles in the quarter, an increase of 14.2 percent.
- In Argentina, Chevrolet sold 41,500 vehicles in the quarter, an increase of 21.5 percent setting a record for the brand.
While Europe is having its own economic challenges these days, Chevrolet Europe sold 55,104 vehicles in Western and Central Europe, a 7.8 percent increase in an industry that was down 8.7 percent versus last year. Chevrolet Europe achieved its best-ever first quarter market share of 1.36 percent, up from 1.15 percent in the first quarter of 2011. In addition to the gains made on the continent, Chevrolet Europe sold 2,812 vehicles in Israel in the first three months of 2012.