GM Reports Highest Monthly Sales Since September 2008
Chevrolet and GMC large pickup sales up 29 percent in June; 23 percent in first half
DETROIT – General Motors Co. (NYSE: GM) sold 264,843 vehicles in the United States in June, up 6 percent compared with a year ago. Deliveries to retail customers increased 14 percent while fleet sales declined 9 percent due to the timing of customer deliveries.
Total crossover sales were up 9 percent compared with a year ago; passenger car sales were up 4 percent, and truck sales, which include pickups, vans and SUVs, were up 8 percent. All four GM brands posted higher retail sales, with Chevrolet, GMC and Cadillac posting double-digit increases.
“Our Chevrolet, Buick-GMC and Cadillac dealers reported strong retail deliveries across the board in June and for the first six months of the year,” said Kurt McNeil, vice president, U.S. Sales Operations. “We have good momentum heading into the second half of 2013: the economic outlook is solid and our launch vehicles are performing well in the marketplace.”
GM estimates that the seasonally adjusted annual selling rate for light vehicles in June was 15.8 million units, the highest level since November 2007.
“America’s families are better off than they were at the beginning of the year and they believe – with good justification – that the economic expansion is going to continue,” said Mustafa Mohatarem, GM chief economist. “Even moderate economic growth will be enough to keep the auto sales rate in the second half of the year at healthy levels around the mid 15 million-unit mark.”
June Sales Highlights (vs. 2012)
* Combined sales of GM’s mini, small and compact cars were up 59 percent. Large pickups were up 29 percent, luxury car sales were up 22 percent and compact crossovers were up 8 percent.
* Cadillac passenger car sales increased 38 percent on the strength of the all-new ATS and XTS, helping drive the brand’s fastest growth since 1976.
* Chevrolet mini, small and compact car sales were up 66 percent.
* Total sales of the Chevrolet Silverado and GMC Sierra increased 29 percent and 33 percent respectively. Combined, dealers delivered more than 6,000 all-new 2014 crew cab models, and the “days to turn” is 10 days.
* The Chevrolet Cruze set an all-time monthly sales record, and Chevrolet Volt and Chevrolet Sonic each had their best-ever June sales.
* The Chevrolet Equinox had its best month ever with sales up 14 percent. Equinox deliveries have increased for 18 consecutive months.
* Chevrolet Impala retail deliveries rose 62 percent.
* Buick retail sales have increased for 14 consecutive months and the brand had its best June retail sales in seven years, on the strength of Buick Verano sales.
Calendar Year-to-Date Sales Highlights (vs. 2012)
* Cadillac was the industry’s fastest-growing luxury brand with a first-half sales increase of 33 percent.
* Retail sales of GM’s redesigned medium crossovers have been very strong: the Buick Enclave was up 24 percent, the Chevrolet Traverse 21 percent and the GMC Acadia 16 percent.
* Crossover sales were up 16 percent compared with a year ago, passenger car sales were up 1 percent and truck sales were up 11 percent.
* Large pickup sales were up 23 percent, including a 49 percent increase in Silverado and Sierra sales to small business customers, who are benefiting from the recovery in housing and overall economic growth.
About General Motors Co.
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, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling brands. 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 financing sources, including as required to fund our planned significant investment in new technology; our ability to successfully integrate Ally Financial’s international operations; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; overall strength and stability of our markets, particularly Europe; and our ability to continue to attract new customers, particularly for our new products. GM’s most recent annual report on Form 10-K provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
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