DETROIT – General Motors Co.’s (NYSE: GM) U.S. dealers delivered the company’s highest December sales in five years, with deliveries up 5 percent year over year to 245,733 vehicles.
December was also GM’s best retail sales month of 2012. Retail volume was up 38 percent from November – about double the industry’s estimated increase. Incentive spending was competitive with industry-wide levels, according to J.D. Power PIN estimates, and remains below many Asian and domestic competitors.
“All four GM brands increased their sales year over year in December and we were strong across the board in cars, crossovers and pickup trucks,” said Kurt McNeil, vice president of U.S. sales operations. “We also achieved an important fuel economy milestone. In December, GM became the first U.S. automaker to sell more than 1 million vehicles in a single year that get an EPA-estimated 30 mpg or better on the highway.”
- Total GM passenger car sales increased 14 percent compared with a year ago. Crossover sales were up 2 percent and sales of trucks, which include pickups, vans and SUVs, were equal to a year ago.
- Compared with November, total car sales increased 18 percent, truck sales increased 52 percent and crossover sales increased 22 percent.
- Combined mini, small and compact car sales were up 52 percent year over year driven by continued strong Buick Verano, Chevrolet Spark and Sonic sales; a 27 percent increase for the Chevrolet Cruze; and a 72 percent increase for the Chevrolet Volt.
- Cadillac posted a double-digit year-over-year sales increase for the third consecutive month.
- Cadillac passenger car sales increased 64 percent year over year as the all-new ATS and XTS continue to establish themselves in the luxury market.
- Year-over-year sales of the Chevrolet Silverado increased 6 percent and sales of the GMC Sierra were up 13 percent. GM pickup sales were the highest since September 2008.
|Highlights||Dec. Total Sales||Total Change vs. Dec. 2011||Dec. Retail Sales||Retail Change vs. Dec. 2011||2012CYSales||2012 vs. 2011||2012 Retail Sales||Retail Change 2012 vs. 2011|
“GM’s strong finish in 2012, the industry’s momentum and the overall health of the U.S. economy make us optimistic about 2013,” McNeil said. “The budget compromise reached in Washington this week removes uncertainty and clears the way for full-year light vehicle sales to rise to the 15 million to 15.5 million unit range in 2013.”
|Inventory|| Units @
Dec. 31, 2012
|Days Supply (selling day adjusted)|| Units @
|Days Supply (selling day adjusted)|
|Industry Sales|| Dec. SAAR
| Calendar Year
|Light Vehicles||15.6 million range||14.5 million range|
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.