General Motors Q1 deliveries fall 7%

|About: General Motors Company (GM)|By:, SA News Editor

General Motors (NYSE:GM) reports U.S. deliveries fell 7.0% Y/Y in Q1 to 665,840 units, with all four brands reporting a decline for the period.

Deliveries by brand: Buick -8.7% to 51,567 units; Cadillac -2.0% to 35,995 units; Chevrolet -7.8% to 452,401; GMC -4.4% to 125,577.

Notable model deliveries: Chevy Equinox +7.4% to 88,500; Chevy Bolt EV -1.3% Y/Y to 4,316; Chevy Colorado +16.1% to 33,494; Chevrolet Silverado -15.7% to 114,313; GMC Sierra -2.2% to 40.546; Cadillac XT4 7,026; Buick Encore -3.4% to 24,606.

GM's per-unit incentive spending is estimated to be down $175 Y/Y. Incentive spending as a percentage of average transaction price is estimated to have fallen 13%.

GM outlook: "After a slow start to the year, the retail SAAR has risen each month since January... Consumer sentiment continued to recover in March and the other key drivers of auto sales like employment, wage growth and household balance sheets are healthy. The Fed paused in raising interest rates, which eases a headwind facing auto sales. Overall, the U.S. economy is in solid shape, which bodes well for the industry outlook."

Shares of GM are up 0.32%.

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