We were just going to do one of those little quicklink things, but GM's got an August sales shocker going on! Overall vehicle sales are up 5.3% — beating the street expectation of 4% lower sales this past month. But the biggest news of all is that trucks are up almost 15% — yup, even with high gas prices. We hear GM CEO Rick Wagoner's standing atop the RenCen in Detroit yelling "Suck on that one, Toyota!" Full press release below the jump.
GM Reports 388,168 August Deliveries
* Bucking The Industry Trend, 5 Percent Total Sales Increase Led By Full-Size Pickups and All-New Crossovers
* GMC Division Up More Than 21 Percent; Chevrolet Up Nearly 9 Percent
* Market Share Expected To Be The Best of 2007 So Far
DETROIT - GM dealers in the United States delivered 388,168 vehicles in August, up more than 5 percent compared with year-ago monthly sales, a strong performance that resulted in an anticipated highest-of-the-year market share of nearly 26 percent. Brisk sales of full-size pickups and crossover SUVs led the increase.
"Bucking the trend in the industry, we were able to post healthy sales results in August. When combining retail sales with our growing commercial business, our sales were up when compared with last August. Importantly, last month was our third-best retail month of the year," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "With the double-digit decline in daily rental sales so far this year, and an overall market that remains challenging and competitive, we continue to stabilize our retail share and pricing in the market."
Customers are also recognizing the quality of GM products. A recent study ranked Buick number one (tied with Lexus) in vehicle dependability. Another customer service survey has every GM brand above the industry average score -better than Toyota, Mercedes-Benz, Chrysler, Ford and Land Rover. "The myth of import superiority is being destroyed. In countless independent consumer surveys, blogs and expert reviews, it is becoming increasingly evident that we build the highest quality vehicles and deliver them with world-class service," LaNeve noted.
Overall incentive spending was flat compared with a year ago. August inventories were down about 34,000 vehicles to approximately 945,000 vehicles.
"August performance shows we're hitting the sweet spot on truck programs, and our award-winning Chevy Silverado and GMC Sierra full-size pickups are making important contributions on the retail side," LaNeve added. "Importantly, these vehicles contributed a 30-percent increase in full-size pickup retail sales, with Sierra kicking in more than 22,500 retail sales in the month. We are also pleased with the ongoing success of the GMC Acadia, Saturn OUTLOOK and Buick Enclave. They are driving our mid-utility crossover segment growth, which is up more than 400 percent compared with a year ago despite short inventories. As with many of our vehicles, these all-new crossovers offer segment-leading fuel economy, terrific performance and outstanding value."
The GMC Acadia, Saturn OUTLOOK and Buick Enclave together had retail sales of more than 10,400 vehicles, pushing the significant retail increase in GM's mid-crossover segment.
GM has 24 vehicles in the 2007 model lineup that achieve an EPA-estimated 30 mpg highway or better.
Warranty coverage has increased substantially as a reason consumers cite when buying a new GM vehicle. GM's 5 Year/100,000 Mile Powertrain Limited Warranty continues to be a better choice for customers. GM's coverage focuses on the complete ownership experience and includes other provisions that competitors do not offer, including transferability to the next owner, more complete coverage of parts, and coverage for new and certified used vehicles. In addition, GM offers superior complementary programs, such as courtesy transportation and roadside assistance. "GM provides the best coverage in the industry and takes care of the vehicle and the owner like no other vehicle manufacturer," LaNeve added.
Certified Used Vehicles
August 2007 sales for all certified GM brands, including GM Certified Used Vehicles, Cadillac Certified Pre-Owned Vehicles, Saturn Certified Pre-Owned Vehicles, Saab Certified Pre-Owned Vehicles, and HUMMER Certified Pre-Owned Vehicles, were 45,195 vehicles, up 1 percent from last August. Total year-to-date certified GM sales are 361,077 vehicles, up 4 percent from the same period last year.
GM Certified Used Vehicles, the industry's top-selling manufacturer-certified used brand, posted 39,905 sales, up 5 percent from last August. Year-to-date sales for GM Certified Used Vehicles are 317,398 vehicles, up 6 percent from the same period in 2006.
Cadillac Certified Pre-Owned Vehicles posted August sales of 3,162 vehicles, down 12 percent from last August. Saturn Certified Pre-Owned Vehicles sold 1,421 vehicles in August, down 28 percent. Saab Certified Pre-Owned Vehicles sold 598 vehicles, down 36 percent, and HUMMER Certified Pre-Owned Vehicles sold 109 vehicles, up 35 percent.
"GM Certified dealers turned in a strong performance in August with sales of 39,905 vehicles, an increase of nearly 5 percent from last August," said LaNeve. "Our dealer network, the largest in the certified segment, is doing a great job providing customers with the wide selection, quality, value and peace-of-mind assurances they're seeking in a certified used vehicle."
GM North America Reports August 2007 Production; 2007 Third-Quarter Production Forecast is Revised at 1.050 Million Vehicles; 2007 Fourth-Quarter Production Forecast Set at 1 Million Vehicles
In August, GM North America produced 437,000 vehicles (152,000 cars and 285,000 trucks). This is down 28,000 vehicles or 6 percent compared to August 2006 when the region produced 465,000 vehicles (179,000 cars and 286,000 trucks). (Production totals include joint venture production of 21,000 vehicles in August 2007 and 26,000 vehicles in August 2006.)
The region's 2007 third-quarter production forecast is revised at 1.050 million vehicles (377,000 cars and 673,000 trucks), down 25,000 vehicles or 2 percent from last month's guidance. Additionally, GM North America's initial 2007 fourth-quarter production forecast is set at 1 million vehicles (334,000 cars and 666,000 trucks), down 107,000 vehicles or 10 percent from fourth-quarter 2006 actuals. In the fourth-quarter of 2006 the region produced 1.107 million vehicles (446,000 cars and 661,000 trucks).
GM also announced 2007 revised third-quarter and initial fourth-quarter production forecasts for its international regions.
GM Europe - The region's 2007 third-quarter production forecast is unchanged at 395,000 vehicles. In the third-quarter of 2006 the region built 374,000 vehicles. The region's initial 2007 fourth-quarter production forecast is set at 452,000 vehicles. In the fourth-quarter of 2006 the region built 443,000 vehicles.
GM Asia Pacific -The region's 2007 third-quarter production forecast is revised at 492,000 vehicles, down 26,000 vehicles from last month's guidance. In the third-quarter of 2006 the region built 433,000 vehicles. The region's initial 2007 fourth-quarter production forecast is set at 631,000 vehicles. In the fourth-quarter of 2006 the region built 509,000 vehicles.
GM Latin America, Africa and the Middle East - The region's 2007 third-quarter production forecast is unchanged at 258,000 vehicles. In the third-quarter of 2006 the region built 215,000 vehicles. The region's initial 2007 fourth-quarter production forecast is set at 257,000 vehicles. In the fourth-quarter of 2006 the region built 215,000 vehicles.
General Motors Corp. (NYSE: GM), the world's largest automaker, has been the annual global industry sales leader for 76 years. Founded in 1908, GM today employs about 280,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 33 countries. In 2006, nearly 9.1 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'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.
Note: GM sales and production results are available on GM Media OnLine at http://media.gm.com/us/gm/en by clicking on News, then Sales/Production. In this press release and related comments by General Motors management, we use words like "expect," "anticipate," "estimate," "forecast," "objective," "plan," "goal" and similar expressions to identify forward-looking statements, representing our current judgment about possible future events. We believe these judgments are reasonable, but actual results may differ materially due to a variety of important factors. Among other items, such factors might include: the pace of introductions and market acceptance of new products; the effect of competition on our markets and significant changes in the competitive environment; price increases or shortages of fuel; and changes in laws, regulations or tax rates. GM's most recent annual report on Form 10-K and quarterly report on Form 10-Q provide information about these factors, which may be revised or supplemented in future reports to the SEC on Form 10-Q or 8-K.