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In 2018, $GM will continue its product momentum with the introduction of its all-new full-size trucks, the Chevrolet Silverado and GMC Sierra. This year, $GM will gain the benefit of a full year of volume from the ongoing launches of its newest crossovers, the Chevrolet Traverse, Buick Enclave and GMC Terrain.
$GM's wholesales for 4Q17 decreased 162,000 units year-over-year. This declined was driven primarily by decreased North American volume due to the actions taken in mid-size and compact passenger cars to match supply with demand and right size dealer inventory.
$GM's net revenue for 4Q17 decreased by $2.2Bil year-over-year. The decline was primarily due to planned downtime and other actions in North America to match supply with demand, partially offset by growth at GM Financial and increased price and mix.
$GM slipped to a loss in 4Q17 from a profit last year, due to a $7.3Bil impact of tax expense from tax reform and $2.3Bil valuation allowance from sale of Opel/Vauxhall Business. Net loss was $5.17Bil or $3.65 per share compared to a profit of $1.84Bil or $1.19 per share a year ago. Revenue fell 5.5% to $37.7Bil. Non-GAAP EPS grew 21.3% to $1.65.
Deliveries of $GM and its JVs in China rose 6.6% on an annual basis to 366,305 vehicles in Sep. Chevrolet sales grew 11% from a year earlier. SUVs remained the key driver of the company’s sustained growth, with sales rising 63% year over year.
$GM crossover deliveries were up 43%, trucks were up 10% and passenger cars were down 11% in September. Retail deliveries, which accounted for about 80% of sales, were up 8% for GM’s best September retail performance since 2007. GM’s U.S. retail share is estimated to be up 0.6 percentage points.
The automaker said that given the relatively low trading volume of its shares on the TSX and the fact that $GM’s NYSE listing provides its shareholders with sufficient liquidity, the company believes that the costs associated with maintaining a dual listing are no longer justified.