Sales are down for GM in the third quarter of 2018, but GM remains optimistic as average transaction prices continue to rise.

"We entered the quarter with very lean inventories of our 2018 model full-size pickups, so we focused on driving a very strong mix of SUVs, crossovers and mid-size pickups," said Kurt McNeil, U.S. vice president of Sales Operations. "We also transitioned to the 2019 model year far earlier than some key competitors, which allowed us to reduce incentives while others raised them sharply."

GM also argues that its sales decline is caused by last year's artificially inflated numbers, rather than this year's slow sales. Floods caused by hurricanes last year meant that there were an unusual amount of sales last year.

Despite the overall sales dip, there were some strong performances. Tahoe, Suburban, and Yukon sales were collectively up 12%, while the Escalades sales rose 2%. GM's midsize pickups also celebrated their best Q3 since 2004, with sales of the Colorado and Canyon increasing by 6%.

GM also reported that sales of MY2019 vehicles made up a third of sales in the last quarter, setting it up well for Q4.

"Our brands are very well-positioned for the fourth quarter when our next wave of new products start shipping in high volume," McNeil added.