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GM 2018 Q3 Results - Down 11.1%


rmc523

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I wonder why Acadia is down so much.

 

Chevy is experiencing its Carpocalypse in full force now.

 

I don't know why I'm just noticing this, but how crazy is that GMC is still selling an ancient rebadged fleet-only cargo van?

 

I wonder if the new Terrain is having a bigger impact on Acadia than before since the resize? Since they're closer in size now, maybe buyers have steered toward Terrain instead?

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Over on the Ford therad, people are looking at the down turn in last months sales

but for GM reporting third quarter, there's really nowhere to hide....

 

Sales across the industry look to be cooling a bit and without strong incentives pushing sales, buyers simply stay away.

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Given the fact that your typical one bedroom apartment is roughly 1200 a month in the US-Your sure as hell not paying that much for a 30K car note.

Around here you can rent a decent 3 bedroom house in a nice neighborhood for close to $1200/month. Heck, a mortgage payment on a nice place on a little acreage isn't much more than that.

 

Meanwhile the percentage of the population with a >$1000/month car payment continues to increase (it's easy to do if you're underwater on your last car combined with a halfway decent new car goes for $35k - $40k nowadays).

Edited by Sevensecondsuv
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Sales across the industry look to be cooling a bit and without strong incentives pushing sales, buyers simply stay away.

The economy as a whole has really hit the brakes in the past three months, houses aren't selling at the rate or the price they were. Take Apple and Amazon out of the market and the numbers look much worse, and there is a super polarizing political environment. Wouldn't surprise me if Q3/Q4 this year meet the definition of a recession.

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The economy as a whole has really hit the brakes in the past three months, houses aren't selling at the rate or the price they were. Take Apple and Amazon out of the market and the numbers look much worse, and there is a super polarizing political environment. Wouldn't surprise me if Q3/Q4 this year meet the definition of a recession.

 

I think it's because of the rising interest rates by the Fed. Our Home Equity is a variable rate and it's adjusted itself from 4-6.5% over the past 2 years. Car loans are getting expensive too as well as mortgages. So it's having people thinking twice. We've been used to free or cheap financing for so long we're starting to see people pull back when it gets costly.

 

The market is doing OK even with out Apple and Amazon. Those 2 just get the most publicity as they have the hype train behind them (especially Amazon).

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The auto market tends to be a leading indicator for both corporate, financial, and consumer health. We are starting to see a convergence of headwinds affecting the economy from increased expenses due to tariffs, reduced economic forecasts because of uncertainty and walled markets, and the temporary overheating of the market from tax cuts helping to delay a pending economic correction (screwing up Ford's timing).

Edited by Assimilator
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September sales

Cascada..............273
LaCrosse.............404
Regal..................979
Verano...................0
Total Buick car......1,656

Enclave............4,619
Encore.............6,638
Envision...........1,974
Total Buick truck....13,231
Total Buick.......14,887

ATS.....................241
CT6.....................676
CTS..................1,420
ELR........................0
XTS..................1,969
Total Cadillac car..4,306

Escalade.............1,485
Escalade ESV.......1,738
SRX.........................0
XT4......................212
XT5...................5,157
Total Cadillac truck.....8,592
Total Cadillac ..........12,898

Bolt.....................1,532
Camaro................5,286
Caprice....................16
Corvette.................989
Cruze ................11,277
Impala.................5,902
Malibu.................9,877
Sonic..................1,744
Spark.................2,560
SS..........................1
Volt...................1,858
Total Chevrolet car.....41,042

Captiva Sport...........0
City Express..........216
Colorado............9,733
Equinox............30,983
Express van........4,576
Silverado..........44,962
Suburban...........5,516
Tahoe...............9,499
Traverse..........10,761
Trax.................6,889
Total Chevrolet truck...123,135
Total Chevrolet ..........164,177

Acadia..............4,557
Canyon.............2,480
Savana van .......1,114
Sierra .............11,724
Terrain............13,502
Yukon...............5,535
Yukon XL...........4,354
Total GMC truck..43,266
GENERAL MOTORS......235,228

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