GM U.S. Sales Down on Lower Rental Volume

DETROIT – General Motors Co. (NYSE: GM) today reported July U.S. sales of 201,237 vehicles, down 6 percent compared with a year ago. Sales to retail customers declined 3 percent. Sales to rental fleet customers declined 41 percent, in line with the company’s previous guidance.

DETROIT – General Motors Co. (NYSE: GM) today reported July U.S. sales of 201,237 vehicles, down 6 percent compared with a year ago.  Sales to retail customers declined 3 percent.  Sales to rental fleet customers declined 41 percent, in line with the company’s previous guidance.

In July, Cadillac sales were up 21 percent thanks to strong across-the-board results for the CTS, Escalade, SRX and the all-new XTS.

“Cadillac hit a home run and our newest Chevrolets and Buicks are performing very well,” said Kurt McNeil, vice president, U.S. Sales Operations.  “Signs of a housing recovery and good news on consumer confidence and household income should help keep the light vehicle selling rate in the 14-million range and drive seasonally higher truck sales as we move toward fall.”

All of GM newest vehicles performed well in July.  Buick Verano sales were 4,235 units and have increased each month since the car launched in December 2011.  Chevrolet Sonic sales were 6,278 units and it has been the retail sales leader in its segment since April 2012.  In addition, Chevrolet Spark deliveries were 1,460 in its first month on sale.

GM’s combined retail sales of mini- , small, and compact cars were up 41 percent year over year. Retail passenger car sales in total were up 3 percent, retail crossover sales were up 2 percent and retail truck sales were down 12 percent.

Two all-new vehicles – the 2013 Chevrolet Malibu four-cylinder and Cadillac ATS – are now in production.  Vehicles launching later this year include the Buick Verano Turbo, Buick Enclave, Chevrolet Malibu Turbo, Chevrolet Traverse and GMC Acadia.

GM said last month that sales to rental customers would be down sharply in July because planned deliveries occurred earlier in the year compared with 2011.  GM’s commercial fleet sales were up 41 percent, the 28th consecutive monthly increase.  Strong police vehicle deliveries to state and local agencies helped drive a 115 percent increase in government sales. Total fleet sales were down 15 percent.

 

2012 Highlights

July Total Sales

Total Change vs. July 2011

July Retail Sales

Retail Change vs. July 2011

CYTD Sales

CYTD Change vs. 2011

CYTD Retail Sales

CYTD Retail Change vs. 2011

Chevrolet

138,942

(6.8%)

99,690

(5.4%)

1,100,604

4.5%

738,505

3.0%

GMC

34,487

(9.0%)

27,560

(5.6%)

235,528

4.5%

194,331

1.6%

Buick

14,391

(14.7%)

14,274

2.0%

104,589

(5.3%)

92,743

1.5%

Cadillac

13,417

20.7%

11,995

20.3%

76,229

(12.6%)

72,077

(4.7%)

Total GM

201,237

(6.4%)

153,519

(3.2%)

1,516,950

2.7%

1,097,656

2.1%

 

Industry Sales

July SAAR (est.)

CYTD SAAR (est.)

Full Year 2012 (est.)

Light Vehicles

13.8 million -14 million range

14.3 million range

14.0 million – 14.5 million

 

Inventory

Units @
July 31, 2012

Days Supply (selling days adjusted)

Units @
June 30, 2012

Days Supply (selling days adjusted)

All Vehicles

663,439

79

700,927

76

Cars and Crossovers

 324,504

62

 361,416

58

Full-size Pickups

238,165

136

238,194

135

 

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets.  GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

Forward-Looking Statements

In this press release and in related comments by our management, 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 planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; 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 provides information about these and other factors, which we may revise or supplement in future reports to the SEC.