Monday, November 30, 2020

Tag: September Carmageddon for Ford and GM

September Carmageddon for Ford and GM


by Wolf Richter, Wolf Street:

Ford drops to 4th place. Industry sales in the red for the year. But FCA sales jump.

GM stopped giving out monthly numbers of new-vehicle deliveries earlier this year, and switched to quarterly releases. Today it reported its third quarter new vehicle deliveries, and they plunged 11% compared to a year ago, to 694,638 cars and light trucks. All of its brands lost ground.

Because we stubbornly insist on monthly numbers, even if GM is hiding them, they’re now being estimated. Based on Bloomberg’s survey of analysts, GM’s sales in the month of September plunged 14%.