GM expects modest market share gain in the US in 2014

Article by Anita Panait, on January 17, 2014

General Motors is expecting to gain "modest" market share at the retail level in the United States this year while still commanding strong prices, the carmaker disclosed. GM's market share was essentially flat in 2013, at 17.9 percent. GM, however, said that its retail share grew as sales gained faster than the market for all four of its brands: Chevrolet, Buick, GMC and Cadillac.

"The momentum is going to continue" in 2014, said Chuck Stevens, GM's new chief financial officer. Stevens told analysts during an investor conference that GM is expecting US light vehicle sales in 2014 to reach between 16 million and 16.5 million units, representing a 3-6 percent surge from the 15.6 million units sold in 2013. Stevens remarked that GM's retail share should surge from 2013, with a "modest market share increase."

Retail sales accounted for around 76 percent of GM's 2.9 million unit sales in 2013. He added that GM’s strong pricing in 2013 should further improve this year, despite signs of increased incentive activity in the market.

GM is expecting that its US lineup of new, redesigned and refreshed vehicles will command stronger prices even if rivals become aggressive with incentives.

The carmaker launched 18 new cars and trucks in 2013 and will launch another 13 this year – including the Chevy Tahoe and Suburban, GMC Yukon and Yukon XL, and Cadillac Escalade and the Chevy Colorado and GMC Canyon mid-sized pickups in the fall.

Topics: gm, united states

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