Buick is Phasing Out Verano in the North American Market
In May, General Motors confirmed that its Buick Verano compact will no longer be sold in the North American market from October 2016. However, an updated version will be available in the Chinese market.
Last month, reports suggested that the Verano could be moving out of the market but confirmation from the company only came in late May. In 2015, Buick sold 31,886 Veranos marling a drop of twenty seven percent in sales.
Verano's sales up ticked in the U.S. in 2013, reaching its peak, after its sales debut in November 2011. After that as Encore sales climbed, Verano lost ground. It is actually the best selling model of Buick in Canada.
In 2015, the combined sales of Encore and Enclave crossovers made up sixty percent or more of all sales that Buick made. With an upcoming release of its new midsize crossover, Envision, Buick expects seventy five percent of sales to be from its crossovers.
The auto industry as a whole is following the market trends which are showing more popularity of crossovers and SUVs.
Barclays analyst Brian Johnson said, "One of the underappreciated risks to the U.S. auto space is the emergence of the sedan recession, in which excess supply and weak demand for sedans is likely to yield added price pressures."
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