Boston, MA 09/04/2014 (wallstreetpr) – The biggest automaker in the U.S., General Motors Company (NYSE:GM) disclosed that it was able to achieve better average transaction price in August both on a month-over-month basis, as well as, year-over-year basis. The company had also spent the lowest incentive among the domestic automakers in August based on J.D. Power Pin estimates.
Better ATP In August
The company stated that its average transaction price or ATP in August was about $33,750, which was $500 higher than the previous month of July. On a year-over-year basis, it realized $2.9K more in August. It had quoted PIN to substantiate the claim, the press statement issued by the company disclosed.
General Motors Company (NYSE:GM) said that the amount spent towards incentive as a percentage of ATP was the lowest among the domestic automakers at 10.4% as per J.D. Power PIN estimation. The company had spent one percentage point lower incentive over the previous month of July, as well as, the previous year month August.
Updates Sales Guidance
The company said that it was expecting to reach full year light vehicle sales in the U.S. towards the higher end of its earlier projections of 16.0 – 16.5 million units, which was positive for the company and the investors.
August Sales
General Motors Company (NYSE:GM) said that its dealers had delivered a total of 272,423 vehicles in August in the U.S. driven by 18% uptick in truck sales and 10% increase in GMC deliveries apart from a 30% commercial sales growth over the last year month period. On an adjusted selling day basis, its total sales grew 2% while retail sales were essentially equal compared to the prior year month.
Its total deliveries witnessed 1% downtick from the previous year month, which also happened to the best sales month of 2013 for the company. Retail deliveries recorded a 4% drop. However, fleet deliveries advanced 9%.
The company stated that its Chevrolet and GMC large SUVs recorded 38% growth in sales while Cadillac Escalade deliveries jumped 64%. Similarly, its Chevrolet Silverado deliveries advanced 13%.
