General Motors saw sales decline in the fourth quarter

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Top U.S. automaker General Motors Co. (NYSE: GM) released its fourth-quarter sales report on January 3.

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The Detroit-based automaker delivered 735,909 vehicles in the fourth quarter, down 6.3% year over year. Retail sales accounted for 80.3% of total quarterly sales, while the fleet mix accounted for 19.7%. The average transaction price rose to a record $ 37,558 year-on-year.

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All of the company's major brands saw no sales growth.

Cadillac sales declined by 2.2% year-on-year to 40,551 units. Cadillac ATS sales were disappointing at 83 units, a decrease of 90%. XTS sales also fell 79% to 1,062 units.

The Chevrolet brand saw a 6.1% drop in sales to 499,404 units. The company referred to the overall 1.43% decline in sales of Silverado pickups to 163,341 units. Equinox sales decreased 6.26% to 92,092 units. On a positive note, Chevrolet Trax sales rose 47.6% to 33,039 units.

GMC sales decreased by 8.5% to 146,880 units. The Savana and Sierra models recorded quarter-over-year sales growth. However, a decline in sales of 22.5% at Acadia (19,471 units sold) failed the automaker.

Buick sales decreased 4.3% to 49,074 units. Encore, the brand's top-selling vehicle, saw sales grow 22.17% to 28,497 units. LaCrosse sales decreased 78% and Regal decreased 51.32%.

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While total sales fell 6.3%, the automaker said that the demand for large sport utility vehicles and pickup trucks was strong during the quarter. Full-year sales of full-size pickups and SUVs were over one million.

"We focused our resources on what our customers want – crossovers and trucks – and that paid off," said Kurt McNeil, vice president of the US sales department. "In addition to our industry leading crossover sales, our full size truck franchise is second to none. We are excited to launch our full size pickup and look forward to launching our segment leading, brand new full size SUV." 2020. "

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Quarterly sales were impacted by the US workers' 40-day strike on October 25. The company also announced that the United Auto Workers' strike would cut profits by almost $ 3 billion in 2019.

Disclosure: I do not hold any positions in the stocks mentioned.

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