GM posts strong 4th-quarter results for 2020

Posted at 4:34 PM, Jan 05, 2021

DETROIT — Overall sales at General Motors were down 12% last year compared to 2019, but fourth quarter sales were up over the same time, the company announced Tuesday.

GM sold more than 771,000 vehicles in the fourth quarter of 2020, a five-percent year-over-year increase.

That’s the best fourth quarter results since 2007, with deliveries up 12%.

Sales for the calendar year were 2,547,339 units.

GM estimates it gained market share across the board in total, retail and fleet deliveries for both the fourth quarter and calendar year.

Retail sales for the industry began to recover in May and reached pre-pandemic levels during the fourth quarter.

Sales to fleets are recovering but remain sharply lower, especially daily rental deliveries.

Average transaction prices set fourth-quarter and full-year records at $41,886 and $39,229, respectively.

“GM outperformed the industry in the quarter and the full year by a significant margin because our manufacturing and supply chain teams and dealers helped keep people safe at work and our launches on track,” said Steve Carlisle, GM executive vice president and president of GM North America. “Extraordinary teamwork has set up everyone to succeed in 2021 as the economy continues to recover and we further ramp up truck and SUV production.”

In 2021, GM expects to have a full year of production of the all-new Cadillac Escalade, GMC Yukon, Chevrolet Tahoe and Suburban.

The company also has plans to build full-size pickups in Oshawa, Ontario starting in early 2022.