DETROIT – General Motors Co. (NYSE: GM) today reported August sales of 240,520 vehicles in the United States, up 10 percent compared with a year ago. GM increased its sales to retail customers by 11 percent, making August its best retail month of the year. Sales to fleet customers were up 6 percent compared with a year ago. All four GM brands posted higher total and retail sales.
Thanks in part to extensive national advertising during the Olympic Games, Chevrolet passenger car sales were up 25 percent, with the Spark, Sonic, Cruze and Volt all posting their best-ever monthly sales. In addition, the Chevrolet Equinox set an August record behind its 22 percent year-over-year sales increase.
“The single message Chevrolet communicated this summer was ‘confidence’ and it rang true with customers when they saw how our product lineup is being transformed,” said Kurt McNeil, vice president of U.S. sales operations. “All four of our brands are building momentum behind new products so we’re very well positioned as the economy continues to slowly improve.”
Other sales highlights for August include an 11 percent year over year increase in Cadillac sales driven by strong demand for the SRX crossover, the Escalade and the new XTS large sedan. Buick sales increased 12 percent on the strength of the Verano, which has seen nine back-to-back monthly sales increases. Buick recorded its best retail sales since September 2007. GMC sales were up 4 percent, following a 35 percent reduction in fleet sales. GMC Acadia sales rose 26 percent in August and GMC Terrain sales were up 16 percent.
GM is in the midst of an aggressive rollout of new products in the United States. Some 70 percent of GM nameplates will be redesigned or all new over the course of 2012 and 2013, with the four-cylinder 2013 Chevrolet Malibu and the 2013 Cadillac ATS reaching the market now.
The redesigned Malibu arriving in dealerships will replace depleted stocks of 2012 models. The compact Cadillac ATS sport sedan is the brand’s second all-new sedan this year and it will compete in the highest volume luxury segment in the United States.
|2012 Highlights||Aug. Total Sales||Total Change vs. Aug. 2011||Aug. Retail Sales||Retail Change vs. Aug. 2011|| CYTD|
|CYTD Change vs. 2011||CYTD Retail Sales|| CYTD|
Retail Change vs. 2011
|Inventory|| Units @|
Aug. 31, 2012
|Days Supply (selling day adjusted)|| Units @|
July 31, 2012
| Days Supply|
(selling day adjusted)
|Year-end Inventory Target||Year-end Days Supply Target (selling day adjusted)|
|All Vehicles||687,354||77||663,439||79||650,000 units (range)||65 – 70|
|Full-size Pickups||249,411||122||238,165||136||200,000 – 220,000 units||80 – 85|
|Chevrolet Nameplate||New Sales Record||Old Sales Record||Old Sales Record Month|
|Industry Sales||Aug. SAAR (est.)||CYTD SAAR (est.)||Full Year 2012 (est.)|
|Light Vehicles||14.6 million||14.3 million||14.0 million – 14.5 million|
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, 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.
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.