GM Discloses That They Were The Red By 11% For The Last Quarter
The driving forces behind GM's record ATPs which are $4,000 above the industry average include strong sales of trucks, SUVs and crossovers, and sharply lower incentive spending. During the third quarter, GM's incentive spending was below the industry average and 2 6 percentage points below domestic and many Asian competitors.
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#1 Oct 2, 2018
"Key new product launches are all on track: Dealers began receiving their first shipments of light duty 2019 Chevrolet Silverados and GMC Sierras in September. During the month, Cadillac dealers also began delivering the first-ever XT4 compact crossover. Late in the fourth quarter, Chevrolet will begin production of the all-new Blazer crossover."
Key, would be if all of these "new" models were a little more reliable than past model releases. A lot promised, but falling short will cost them if the engineering was released before fully tested and problems corrected. FAC, Chrysler made a big deal out of their "new" diesel offerings in the Jeep Grand Cherokee and RAM 1500 trucks, they also had 8 speed transmissions for more gear selections for different driving conditions. Sounded, good, but was a screw up. Before Sergio Marchione died, the decision was made to push these changes out the door before complete testing and calibration of the systems were debugged. The Dealerships had to deal with this and it has cost them customer loyalty. This has created a shift of customers to Toyota and Nissan for trucks and off road capable vehicles.
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