GM

General Motors Company

39.90
USD
-1.31%
39.90
USD
-1.31%
30.33 67.21
52 weeks
52 weeks

Mkt Cap 57.92B

Shares Out 1.45B

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September new vehicle sales rise 13% Y/Y, used vehicle sales down 11% Y/Y

According to TrueCar total new vehicle industry sales are expected to reach 1.14M units in September 2022, up 13% Y/Y and up 3% M/M. Used vehicle sales for September 2022 are expected to reach 3M, down 11% Y/Y and down 4% M/M. Fleet sales for September 2022 are expected to be up 57% Y/Y and up 5% M/M. Excluding fleet sales, company expects U.S. retail deliveries of new cars and light trucks to be 987,378 units, up 8% Y/Y and up about 3% M/M. Incentive spend is down 54% Y/Y and down 2% M/M. This month's seasonally adjusted annualized rate (or SAAR) for total light vehicle industry sales is an estimated 13.4M, up 9% Y/Y. Total SAAR is expected to be up 9% Y/Y at 13.4M units. The average interest rate on new vehicles is 5.9% compared to August 2022 at 5.8% and the average interest rate on used vehicles is 9%. Quarterly incentive spend down 55%. Car Manufacturers to watch: Ford (F), Honda Motor (HMC); General Motors (GM); Nissan (OTCPK:NSANY); Hyundai Motor (OTCPK:HYMLF) (OTCPK:HYMTF) (OTCPK:HYMPY); Tesla (TSLA); Toyota Motor (TM); Volkswagen (OTCPK:VWAGY) (OTCPK:VLKAF), Daimler (OTCPK:DTRUY), Bayerische Motoren Werke Aktiengesellschaft (OTCPK:BMWYY).

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