Investors: News

VEHICLE SALES DIP AFTER PROLONGED PERIOD OF GROWTH

Mon, Sep 2 2013

  • Vehicle sales marginally below those of August last year
  • GMSA achieves sales of 6029 units in market of 56112 for 10,7% share of market
  • Record month for Chevrolet Spark with 1086 sales as number six on top ten best sellers list
  • Chevrolet Utility leads sub-1 ton market with 1439 sales
  • Chevrolet Trailblazer continues to grow market with 271 sales

New vehicle sales released by the Department of Trade and Industry today show a marginal decline in sales of 158 units (0,3%) reported through the official channel over August 2012. Total vehicle sales for August as reported by the DTI were 56112 units. Of that total 38892 were passenger vehicles, 14376 light commercial vehicles and the balance of 2844 made up of medium and heavy commercial vehicles and buses.

General Motors South Africa had improved demand for vehicles across its range with the Chevrolet Spark, the only locally manufactured car in its class, achieving record sales of 1086 units as number six on the top-ten best sellers list for the month. The Chevrolet Utility was again the most popular seller in the sub-1 ton segment with 1485 sales while the new Isuzu KB continued to grow its presence in the market with 1439 sales. Likewise the Chevrolet Trailblazer drew a high level of interest in the SUV market with 271 sales for the month. Together these models contributed to GMSA’s total of 6029 units for the month and a market share of 10,7%.

“Vehicle sales reported for August reflect a softening of the market that has been expected and built into forecasting models for growth for the full year,” says Malcolm Gauld, GMSA’s Vice President Vehicle Sales, Service, and Marketing. “The motor industry has enjoyed a period of four years of sustained growth and remains on track for growth in the order of 5% for the year with a softening of the market over the last third of the year anticipated after a flying start to 2013. Current year-on-year growth is 5,9% which is still above the forecast for year-end and the overall outlook remains positive for a market of over 650000 vehicles for 2013.

“The impact of lower than expected economic growth together with the adverse impact of inflation fed by the reduced value of our currency has largely been offset up to now by aggressive marketing and the relatively low cost of vehicle finance. In the vehicle marketing mix the private buyer has provided significant support driving sales of passenger vehicles with demand for commercial vehicles trailing behind.

“August saw a reversal of that trend with passenger vehicle sales softening by 3,7% compared to August 2012 despite healthy rental sector orders while sales of light commercial vehicles improved by 5,3% for the same period. The medium commercial segment was 26,9% up on last year while the heavy and extra heavy vehicle markets were both up by 29% led by investment in construction and infrastructure projects.

View Terms & Conditions

LEGAL NOTICES
PLEASE READ THESE TERMS CAREFULLY BEFORE USING THIS SITE

THIS WEB SITE (THE "SITE") IS PROVIDED BY GM FOR INFORMATIONAL PURPOSES ONLY. BY USING THE SITE, OR BY DOWNLOADING MATERIALS FROM THIS SITE, YOU AGREE TO ABIDE AND BE BOUND BY THE TERMS AND CONDITIONS CONTAINED BELOW AND ELSEWHERE WITHIN THE SITE. IF YOU DO NOT AGREE TO ABIDE BY AND BE BOUND BY THESE TERMS AND CONDITIONS, DO NOT USE THIS SITE OR DOWNLOAD MATERIALS FROM THE SITE.

LINKS TO OTHER MATERIALS: As a convenience to you, GM may provide on this Site links to Web sites (the "linked sites") that are operated by other entities. The linked sites are not under the control of GM and GM is not responsible for the content of any linked site or any link contained in a linked site. GM reserves the right to terminate any link or linking program at any time. GM does not endorse companies or products to which it links and reserves the right to note as such on its Web pages. If you decide to access any of the third party sites linked to this Site, you do this entirety at your own risk and it is your responsibility to take all protective measures to guard against viruses or other destructive elements.

APPLICABLE LAWS: This Site is controlled by GM from its offices within the United States of America. GM makes no representation that information in this Site is appropriate or available for use in other locations, and access to this Site from countries or territories where the Site's content is illegal is prohibited. If you access this Site from outside the United States, you do so on your own initiative and you are responsible for compliance with all applicable local laws. These Terms and Conditions of use are governed by the laws of the State of New York, without giving effect to its conflict of laws provisions.

GENERAL: GM reserves the right, at its sole discretion, to change, modify, add or remove any portion of these Terms and Conditions, in whole or in part, at any time. Changes will be effective when notice of such change is posted. Your continued use of the Site after any changes are posted will be considered acceptance of those changes. You should visit this page from time to time to review the then-current Terms and Conditions because they are binding on you.

THE INFORMATION CONTAINED HEREIN MAY CONTAIN INACCURACIES AND TYPOGRAPHICAL ERRORS. GM DOES NOT WARRANT THE ACCURACY OR COMPLETENESS OF THE INFORMATION OR THE RELIABILITY OF ANY ADVICE, OPINION, STATEMENT OR OTHER INFORMATION DISPLAYED OR DISTRIBUTED THROUGH THIS SITE OR ANY LINKED WEB SITE. YOU ACKNOWLEDGE THAT ANY RELIANCE ON ANY SUCH OPINION, ADVICE, STATEMENT, MEMORANDUM, OR INFORMATION SHALL BE AT YOUR SOLE RISK. GM RESERVES THE RIGHT, IN ITS SOLE DISCRETION, TO CORRECT ANY ERRORS OR OMISSIONS IN ANY PORTION OF THE SITE. GM MAY MAKE ANY OTHER CHANGES TO THIS SITE AND THE INFORMATION CONTAINED IN THIS SITE AT ANY TIME WITHOUT NOTICE.

IN NO EVENT SHALL GM OR ANY OF ITS SUBSIDIARIES BE LIABLE TO YOU FOR ANY DIRECT, INDIRECT, SPECIAL, CONSEQUENTIAL OR OTHER DAMAGES (INCLUDING, WITHOUT LIMITATION, ANY LOST PROFITS, BUSINESS INTERRUPTION, LOSS OF INFORMATION OR PROGRAMS OR OTHER DATA ON YOUR INFORMATION HANDLING SYSTEM) THAT ARE RELATED TO THE USE OF, OR THE INABILITY TO USE, THE CONTENT, MATERIALS, AND FUNCTIONS OF THIS SITE OR ANY LINKED WEB SITE, EVEN IF GM IS EXPRESSLY ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

On this website, our use of the words "expect," "anticipate," "possible," "potential," "target," "believe," "commit," "intend," "continue," "may," "would," "could," "should," "project," "projected," "positioned" or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planning significant investment in new technology; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K and quarterly reports on Form 10-Q provide information about these and other factors, which we may revise or supplement in future reports to the SEC.