GM Delivers 2.3 Million Vehicles in Third Quarter
* Global HUMMER Sales Up 54 Percent Year to Date
* Saab Sales at Record Levels Through First Nine Months
* Chevrolet Records Double-Digit Sales Increases in Asia-Pacific, Europe and Latin American Regions
2006-10-20 - DETROIT – General Motors reported third-quarter global sales (July-September) of 2,296,000 vehicles, supported by the performances of its global brands Cadillac, Chevrolet, Saab and HUMMER. Although the overall number marks a 3-percent decrease over the same period a year ago, the difference of 66,000 vehicle sales compared with the same period last year is largely attributable to a comparison with the results of the Employee Discount for Everyone program in North America last year and the planned reduction of daily rental and fleet sales this year. GM’s foundational brand Chevrolet saw double-digit increases in the most important growth markets around the world.
“Our global brands Cadillac, Chevrolet, Saab and HUMMER continue to show their worldwide strength. We’re also seeing outstanding growth through the first nine months of the year for GM brands in emerging markets such as China (up 37 percent); Russia (up 64 percent); and India (up 18 percent),” said John Middlebrook, vice president of global sales, service and marketing.
“We are seeing the revitalized marketing strategy in North America first stabilize, and now slightly improve, our market share in the United States -- from 23.8 percent in the first quarter of 2006, to 24.1 percent in Q2, then 25.1 percent in Q3.”
Chevrolet recorded year to date sales increases in Asia Pacific (27 percent), Latin America and the Middle East (20 percent) and Europe (10 percent). Most encouraging is Chevrolet’s third-quarter growth in emerging markets such as Russia, up 89 percent; India, up 44 percent; Brazil, up 16 percent; and China up 6 percent. Chevrolet also saw record third-quarter sales in Europe, and a 10 percent increase compared to last year, with 87,000 vehicles sold. Further growth for the brand is expected with the introduction of the new Chevrolet Silverado full-size pickup truck in North America, and the expanded availability of the Captiva sport utility in Europe, Asia and other select markets.
HUMMER sales remain strong with a 54-percent increase year to date. Global year to date H3 sales are up 120 percent compared with the same period a year ago. In the Middle East, HUMMER sales were up 368 percent, with 1,700 vehicles sold, year to date. In the United States, H3 sales for the quarter were up 20 percent to 16,000 vehicles. Global HUMMER sales should continue to strengthen with the additional H3 volume available from GM’s new assembly facility in South Africa. Production of H3s began this month in South Africa, and a right-hand-drive version of the H3 will be added to the portfolio next May.
Cadillac sales in China and Europe have shown powerful improvements so far this year. In China, where Cadillac was introduced only two years ago, year to date sales are up 43 percent. In Europe, Cadillac sales are up 30 percent year to date. In the United States, Escalade continues its dominance of the Large Luxury Utility segment with a 41 percent share of the market.
Saab global year to date sales increased 7 percent compared with year-ago levels, to 104,000 vehicles, helping the brand set a new record for the first nine months of the year. Growth was seen in Europe and Asia where sales increased 18 percent compared with the first nine months of 2005. In Sweden, the Saab 9-5 BioPower was once again the number one ‘green vehicle’ sold.
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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