|Change in sales of full-size SUVs. Click to enlarge.|
Sales of full-size SUVs in the US continued their decline in February, dropping 14% to 103,566 units from 120,376 units sold in February 2005. For the combined first two months of the year, sales of full-size SUVs dropped 11% from 216,485 units to 192,810.
Within the shrinking segment, however, GM is dramatically increasing its marketshare. Although sales of GM’s full-size SUVs decreased in total by 2.1% February to February, its market share of the full size SUV segment increased from 49.5% to 56.3%.
For the combined first two months of the year, GM’s market share of the full-size segment increased from 50.2% to 57.1%.
|GM’s results. The Tahoe is the clear leader.|
Much of this gain is being driven by the success of the all-new Tahoe, the first of GM’s redesigned full-size SUVs to hit the market. Sales of the Tahoe in February shot up 42% from 10,481 to 15,431 units. The increase of 4,950 units represented by far the largest unit increase for any automaker’s full-size SUV during the month.
At the same time, Ford, the second-largest provider of full-size SUVs, saw its market share in this segment drop to 28.7% for the month, and 26.9% year-to-date.
This increase of market share in a shrinking segment is exactly the results GM execs had hoped for last year as they began promoting their redesigned full-size models. Increasingly, if sales trends continue, GM will become even more synonymous with full-size SUVs.
GM’s total sales for February were down 2.5% to 301,545 new cars and trucks compared to the same month a year ago. Total car sales were down 13%, and truck sales were up 5%.