- General Motors (NYSE:GM) unit sales -2.2% to 252,813 units vs. +0.5% forecast by Kelley Blue Book and -7.3% expected by Edmunds.
- The company says it has topped a retail market share of 17% for three straight months for the first time since 2011. "We are heading into the fourth quarter with good momentum, thanks to a strong U.S. economy and very strong pickup and crossover sales. In fact, Chevrolet and GMC have some of the fastest-turning crossovers in the industry," updates top GM sales exec Kurt McNeil.
- Sales by brand: Chevrolet -3.8% to 175,110 units; GMC +4.6% to 44,630; Buick -4.5% to 19,142; Cadillac -0.1% at 13,931.
- GM's average transaction price fell 2.0% Y/Y to $39,204 per Kelley Blue Book. GM's incentive spending fell 100 bps M/M to 13.5% per JD Power.
- GM ended the month with 80 days supply vs. 76 days at the end of September.
- Shares of GM -0.07% to $42.95
- Now read: Why Is GM Outperforming Ford?
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GM keeps a hold on U.S. market share
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