Costco sold 58,000 GM cars during a holiday promotion

Costco sold 58,000 GM cars during a holiday promotion,Beginning October 2 and catastrophe January 4, Costco Wholesale Corp. (NASDAQ: COST) and General Motors Co. (NYSE: GM) sponsored a advance for Costco associates who capital to acquirement a new GM car. Sales totaled about 58,000 GM cars for the three-month promotion, up 34% year over year and able-bodied aloft Costco's estimated 20% increase.

The action featured GM supplier appraisement and included all condoning architect rebates and incentives on a alternative of vehicles, including trucks, action account cars and affluence and fuel-efficient models. Buyers aswell accustomed a $300 or $700 Costco banknote agenda for commutual a Costco affiliate achievement survey.

Customers were aswell asked if the advance was a "deciding factor" in their acquirement of a GM car instead of addition brand. Added than bisected (53%) said it was, and GM took the a lot of sales from Ford Motor Co. (NYSE: F). Some 32% of the GM buyers switched from Ford to GM cars. That's about 18,650 beneath Ford cars awash in the three-month period. Toyota Motor Corp. (NYSE: TM) and Honda Motor Co. Ltd. (NYSE: HMC) absent 14% and 7% of sales, respectively.If Costco awash annihilation but cars it would be the better new car banker in the United States. In 2015, the aggregation awash added than 465,000 vehicles. AutoNation Inc. (NYSE: AN) is the nation's better car dealer, and it awash 343,753 new cars in 2015, a 5% access year over year. Costco's year-over-year access in new car sales totaled 16.8%.

Share on Google Plus

About JULIA

This is a short description in the author block about the author. You edit it by entering text in the "Biographical Info" field in the user admin panel.