GM confirmed on Thursday that the last 2017 Verano to be built at the company’s Lake Orion plant in Detroit would roll out in October, after which the nameplate will only live on in China.
A report surfaced last month about the Verano getting phased out in the US, however, now we finally have some numbers backing the automaker’s decision.
Last year, Verano US sales went down 27% and are already down 12% this year through April with 10,624 units sold. According to Autonews, there were around 10,000 Verano units on dealer lots or en route to stores at the beginning of this month, which basically comes down to a 113-day supply.
“The decision underscores the changing consumer market dynamics where there is a growing demand for SUVs in North America,” stated a Buick spokesman.
While deliveries did peak at 45,527 in 2013, they have yet to reach that level since. Furthermore, the Encore crossover has become Buick’s best selling model since then, and North American buyers are clearly looking more and more in that direction thanks to lower gasoline prices and improved fuel economy figures.
“One of the underappreciated risks to the US auto space is the emergency of the sedan recession, in which excess supply and weak demand for sedans is likely to yield added price pressures,” said Barclays analyst Brian Johnson.
Despite getting the axe, the Verano was ranked third overall in a JD Power Dependability Study this year, topping the compact car segment.