Global Brand Sales Grow as U.S. Market Stabilizes
* Saab Sets Record for First Half of Year
* Chevrolet Global Sales Continue to Grow
2006-07-28, DETROIT – General Motors reported second quarter global sales (April - June) of 2,400,000 vehicles – an 8.7 percent increase over first quarter 2006 – powered by sales of Chevrolet and Saab. GM’s year-to-date sales of 4,600,000 vehicles are down 2.3 percent compared to the same period a year ago. This decline is largely attributable to last year’s highly successful employee discount incentive program in North America and lower fleet sales in Europe.
“We are encouraged by the stabilization of our sales in the United States and the continued strength of our four global brands (Cadillac, Chevrolet, Saab and Hummer) outside of our home market,” said John Middlebrook, vice president of global sales, service and marketing. “Our global market share grew each month of the quarter, concluding at 14.5 percent share performance in June.”
Chevrolet, GM’s foundational brand recorded year-to-date sales increases in Asia Pacific (40 percent), Latin America (15 percent), Middle East (12 percent) and Europe (12 percent). Most encouraging is Chevrolet’s growth in emerging markets such as Brazil up 13 percent (20,000 units), China up 81 percent (30,000 units), India up 47 percent (6,000 units) and Russia up 47 percent (14,000 units). Second quarter Chevrolet global sales are up more than 128,000 units, a 13 percent increase over first quarter results. Further growth for the brand is expected with the third quarter introduction of the Chevrolet Silverado full-size pickup truck in the United States, and the expanded availability of the Captiva sport utility in Europe and Asia.
HUMMER sales remain strong with year-to-date sales up 104 percent compared to the same period a year ago. The Middle East, up 531 percent (1,300 units) and the United States, up 89 percent (15,000 units) are the leading markets for the brand. HUMMER sales should continue to strengthen with the production of a right-hand drive version of the H3 for markets outside of North America, at GM’s South Africa assembly plant later this year.
Saab global sales increased 11 percent compared to year-ago levels, helping the brand set a new record for the first half of the year. The largest growth was in Europe where sales increased 24 percent compared to 2005. In Sweden, the Saab 9-5 was once again the number one ‘green vehicle’ sold. The brand also experienced solid sales performance in Australia, up 51 percent compared to last year, making the island continent the brand’s third-fastest-growing market.
Cadillac sales outside of the United States grew 13 percent compared to year ago levels. In China, where the brand was introduced only two years ago, calendar year-to-date sales are up 93 percent. In Europe, the launch of the Cadillac BLS helped sales grow 30 percent. Sales in the United States are expected to further stabilize in future months with increased availability of the Cadillac Escalade, Escalade EXT, Escalade ESV, and SRX with an all-new interior.
Note: Numbers and percentages are preliminary and have been rounded.
General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the global industry sales leader for 75 years. Founded in 1908, GM today employs about 327,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2005, 9.17 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn and Vauxhall. GM operates one of the world’s leading finance companies, GMAC Financial Services, which offers automotive, residential and commercial financing and insurance. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.
GM is the majority shareholder in GM Daewoo Auto & Technology Co. of South Korea, and has product, powertrain and purchasing collaborations with Suzuki Motor Corp. and Isuzu Motors Ltd. of Japan.
GM also has advanced technology collaborations with DaimlerChrysler AG and BMW AG of Germany and Toyota Motor Corp. of Japan, and vehicle manufacturing ventures with several automakers around the world, including Toyota, Suzuki, Shanghai Automotive Industry Corp. of China, AVTOVAZ of Russia and Renault SA of France.
Genuine GM Parts and accessories are sold under the GM, GM Performance Parts, GM Goodwrench and ACDelco brands through GM Service and Parts Operations, which supplies GM dealerships and distributors worldwide. GM engines and transmissions are marketed through GM Powertrain.
GM’s largest national market is the United States, followed by China, Canada, the United Kingdom and Germany.
Note: In this press release and related comments by General Motors management, our use of the words “expect,” “anticipate,” “estimate,” “forecast,” “objective,” “plan,” “goal” and similar expressions is intended to identify forward looking statements. While these statements represent our current judgment on what the future may hold, and we believe these judgments are reasonable, actual results may differ materially due to numerous important factors that are described in GM’s most recent report on SEC Form 10-K (at page II-20) which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. Such factors include, among others, the following: changes in economic conditions, currency exchange rates or political stability; shortages of fuel, labor strikes or work stoppages; market acceptance of the corporation’s new products; significant changes in the competitive environment; changes in laws, regulations and tax rates; and, the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and times planned by management.
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