According to the General, the new Camaro is creating enough buzz to play a key role in GM's turnaround. It's obviously drawing showroom traffic with the new Transformers movie — no matter how awful it was. But GM thinks it's so hot it may even catch the Ford Mustang in monthly sales when it has enough available — no small feat given the 'stang sells with a drop-top model alongside the coupe and the Camaro's only got the coupe (not to mention there's not even a t-top version!).

Basically, the General's two arguments against bankruptcy are first, that they'll see a sales drop, depending on whether the bankruptcy is "pre-solicited," a "cram-down" or a "traditional" process of anywhere from 4% (U.S. volume loss) and 3% (long term U.S. volume loss) to 13% (U.S. volume loss) and 10% (long term U.S. volume loss). Second, they believe that some forms of their $170 billion in debt cannot be easily wiped clean in a bankruptcy.

We happen to think, for at least the first argument on a sales drop, it's plain bunk. GM is already in a state of de facto bankruptcy and is already losing sales due to potential customers making other choices in the market. Secondly, many consumers are on the sidelines right now, so why focus on market share when people just aren't buying?

But more importantly, because of the overall economic climate, right now would be the most favorable time to receive a bankruptcy deal backed by the federal government, a situation that could provide a more favorable customer reaction than a straight bankruptcy. As far as the debt obligations arguments, we're still wading through that side of the argument. Frankly, so is GM.

But our initial thought is GM really believes they'll be able to get bondholders to reduce claims. However, that's almost an impossibility given the requirements by the Federal Government to show long-term viability and a restructuring plan for debt by March 31st, 2009.

A secondary concern for GM may be over Section 360 — the "Stalking Horse" provision. That provision allows a debtor who, instead of owning common stock, but rather bonds and liens on assets to make a bid for the company. If the "Stalking Horse" wins the bid, he owns the company for the cost of the debt and the bid. If it's a real concern, expect to watch someone buying up large chunks of GM debt at $0.20 - $0.30 on the dollar.

That's about as far as we've made it so far, so for the moment, enjoy GM's argument below from their viability plan:

As noted in the General Motors‘ December 2 submission, some industry observers have suggested bankruptcy is a reasonable, if not preferred, restructuring option-allowing for a more all-encompassing resolution of the Company‘s liabilities than otherwise possible. It has also been suggested that a bankruptcy proceeding can be quick, allowing the new company to be up and running in a matter of weeks.

―Quick‖ has seldom been the pace of bankruptcy proceedings in this country. Based on data supplied by Lakeview Capital, of 159 cases completed since 1995 involving companies with assets of $1 billion or greater, only 4 cases (3%) exited bankruptcy in 90 days or less. The vast majority of these cases took one year or more, with one-third taking two years or more. The size and scope of General Motors makes it unique relative to this sample, suggesting a longer versus a shorter duration.

The more important consideration is revenue loss. All research indicates bankruptcy would have a dramatic impact on GM sales and revenue. According to CNW Market Research, more than 80% of consumers intending to purchase a new vehicle (during the following 6 months) would not do so from a company that filed for bankruptcy. In the case of Daewoo Motor, this company experienced a permanent 40% reduction in business in South Korea following a two-year restructuring. If the South Korean market was as competitive as the U.S., Daewoo‘s revenue loss would likely have been far greater.

GM has attempted to model the potential cost and benefits of various bankruptcy scenarios. Although any model requires simplifying assumptions, which inherently cause them to understate various risks, the analysis confirms that a restructuring process outside of bankruptcy is highly preferable for all constituencies. The Company‘s detailed analysis of bankruptcy scenarios, compared to the proposed Restructuring Plan, is contained in Appendix L.

Structural Alternatives to Proposed Restructuring Plan

The Plan presented in this report is predicated upon restructuring the operations and
liability/capital structure of the Company without submitting to a U.S. bankruptcy process (―out
of court process‖).

An out of court process will achieve the key financial objectives of the plan without the trauma
and systemic risk inherent in a bankruptcy case. An out of court process demonstrates the
Company's ability to re-pay the U.S. Department of Treasury loans and to structure a viable
business with a positive net present value, credibility with consumers and a competitive
operating and capital structure, while minimizing the risk that further financial reorganization
will be required.

A fundamental element of the Company's restructuring plan is to avoid further revenue losses
that arise from bankruptcy. The out of court process is critical to that objective. Although the
Company recognizes that the out of court process does not afford the Company the option to use
bankruptcy powers to unilaterally impair claims, reject executory contracts and the like, the
Company believes that those potential benefits are more than offset by the actual and potential
negative consequences of bankruptcy. Specifically, the incremental portion of the Company's
liabilities that can be practically addressed in a bankruptcy is quite limited, compared to the level
of support and additional funding that would be necessary to mitigate revenue losses and other
consequences.

Consumer confidence is essential to the Company's future success. For most consumers, the
purchase of a vehicle represents their second largest expenditure (after housing). Consumers
view resale value and the assured availability of warranty coverage and long-term parts and
service as critical inputs to their purchase decision. It is the judgment of the Company that a
bankruptcy filing would substantially, if not completely, erode consumers' confidence in GM's
ability to deliver on those requirements. The consumer, with a choice of a comparable product
backed by a manufacturer operating outside bankruptcy, is substantially less likely to opt for the
bankruptcy tainted product. The resulting deep and precipitous slide in the Company's revenue
would endanger not only the Company's viability, but that of countless of its dealers and
suppliers, which are in turn relied upon by other manufacturers and the public. In addition, a GM
bankruptcy would threaten GMAC's ability to fund itself in the capital markets, impairing
GMAC's capacity to provide wholesale and retail financing essential to support the viability of
GM.

The systemic risk to the automotive industry and the overall U.S. economy are considerable, just
as the bankruptcy of Lehman had a ripple effect throughout the financial industry. Indeed, the
risks relating to a bankruptcy in the automotive sector may be more extensive than Lehman
presented in light of the wider range of constituencies, profound employment effects and the
potential impact on consumer sentiment. Based upon exhaustive analysis, these risks outweigh
the benefits of a bankruptcy based approach to the Company's restructuring.

It should also be noted, as will be shown below, that the financing requirements of the Company
significantly exceed those in an out of court process, irrespective of the bankruptcy route chosen.
Additionally, many of the liabilities that could be impaired in a traditional bankruptcy process
could have the effect of shifting those liabilities to the U.S. Government.

To assess the relative merits of an out of court process, the Company has compared the projected
results of its viability plan against projected outcomes in three different bankruptcy scenarios.
The analysis included in this Appendix addressing each scenario necessarily makes a number of
simplifying assumptions, including that any bankruptcy proceeds in an orderly fashion along a
prescribed timeline. In truth and in practice, the process involves many risks, virtually all of
which involve delays in timing. To the extent that the Company enters bankruptcy, even via one
of the two accelerated strategies, there is an exceptionally high risk that the timeframes extend
beyond those presently assumed, rendering the projected DIP funding requirements understated
and optimistic. In a traditional Chapter 11 process designed to address all of the Company's
liability structure, given the complexity and scope of General Motors' global business operations,
there is a substantial risk that emergence from bankruptcy will prove impossible and a
liquidation pursuant to Chapter 7 of the Bankruptcy Code will result. Finally, given the
Company's financial position and the state of the credit markets, any DIP financing would need
to be provided by the U.S. Government. Otherwise, General Motors would not be able to
operate in Chapter 11 and would very likely be compelled to liquidate.

The three scenarios considered were as follows:

1. ―Pre-solicited or Pre-packaged Chapter 11‖ — Under this scenario, and as
contemplated in the Company's planned Bond/VEBA exchange offer, tendering
bondholders would be required to vote affirmatively to accept a Chapter 11 Plan of
Reorganization. If possible (because the Plan of Reorganization received the requisite
votes) and necessary (because the out of court process failed), the exchange plan would
be implemented in bankruptcy, binding 100% of the bondholders to accept consideration
equivalent to that contemplated in the out of court exchange. However, this scenario
requires an agreement in advance regarding the treatment of VEBA liabilities acceptable
to bondholders, as well as a commitment for government financing. No other creditor
would be impaired. Existing shareholders would be almost entirely diluted.

This scenario is assumed to require approximately 60-65 days to achieve confirmation of
the plan and exit from Chapter 11. It will cause a quite severe near-term negative revenue
impact during the bankruptcy proceeding, and a less severe but still serious long-term
negative revenue impact after exiting from Chapter 11.

2. ―Pre-negotiated Cram-Down Plan‖ — Under this option, which is more
aggressive than a consensual pre-packaged Chapter 11 approach discussed in Scenario 1
above, the Company would seek a larger conversion of debt to equity. This strategy
could take many forms, including: (A) complete conversion of the bonds to equity; (B)
reduction in obligations from impairing additional classes of claims (including potentially
litigation liabilities, dealer claims and contract rejection damages); and (C) greater to
perhaps complete equitization of the VEBA obligations. This scenario is assumed to
require a minimum of 90 days for its least aggressive variant, up to as long as six months
or more for more aggressive variants, such as converting a portion of other liabilities to
equity. If the Company were to pursue a larger or complete conversion of the VEBA to equity, the assumption is that this would be a vigorously contested, endangering
resolution with the UAW and potentially forcing the Company into an extended
traditional Chapter 11 case or free-fall bankruptcy as described in Scenario 3.

For analytical purposes, GM has assumed only the benefits in (A) above, or conversion of
the bonds to equity, completed in the shortest (90 day) timeframe possible. The negative
revenue impact during this option is expected to be even more severe, with greater
permanent effects, compared to the pre-solicited process described in Scenario 1. In
addition, the cram down process results in an incremental $4 billion debt reduction, or
complete conversion of all U.S. unsecured debt to equity, but also involves significantly
higher levels of DIP financing required which, in turn, produces a significantly negative
NPV. There would be significantly less negative impact than in a traditional Chapter 11,
which has broader implications for the industry as a whole. However, this scenario
includes elements likely to elicit opposition, which increases the timing risks and the risk
that Scenario 2 might evolve into the substantially less favorable Scenario 3.

3. ―Traditional Chapter 11 Case‖ — Under this scenario, the objective would be
to accomplish a more comprehensive restructuring of the liability portion of the balance
sheet, along with substantial asset dispositions, using all of the tools traditionally
available to debtors to restructure through a court supervised process.

This process could be expected to require 18-24 months, with an estimated 24 months
used for analytical purposes in this appendix. Financially, while the traditional
bankruptcy process allows for greater liability reduction potential, incremental funding
requirements surge close to a $100 billion or more, reflecting catastrophic revenue
reduction impact as well as wholesale (i.e., dealer) financing requirements and supplier
support. The revenue impact during this type of bankruptcy would be very severe, with a
substantially delayed recovery time and significant potential for permanent, significant
damage. Indeed, there is considerable doubt whether the Company would survive this
process.

To assess the risks and benefits of each strategy, the Company must weigh the potential
additional ―cleansing‖ or liability reducing benefits of each strategy against the ―revenue erosion‖
impact. Key simplifying assumptions in the analysis are as follows: (1) that global revenue
impact would be proportional to that experienced in the U.S.; (2) that DIP financing, which the
Company believes would not be available today in sufficient size through traditional means,
would be provided by the U.S. Treasury; and (3) that the Company under a bankruptcy scenario
would request substantial and longer term U.S. Government backstop of warranty coverage, and
other customer protections, to address consumer concerns, particularly during the bankruptcy
court administration period (which would be helpful, but would not address resale value,
competitive threats and other lingering customer concerns).

The remainder of this Appendix discusses the analysis in detail. Table A below summarizes the
Company's conclusions as to the potential results of each process.

Photo Credit: Bill Pugliano / Getty Images News

GM Reports 129,227 Deliveries in January

* New products and GMAC financing help stabilize retail share above 21 percent for the second consecutive month
* Cars and crossovers were 65 percent of GM retail vehicles sold
* "Presidents Day Sale" begins with 0 percent APR or bonus cash offers on select vehicles for qualified buyers

DETROIT - Driven by an 80 percent reduction in fleet sales, General Motors dealers in the United States delivered 129,227 vehicles in January, down 49 percent compared with a year ago. Retail sales were off 38 percent, but retail market share held steady compared with December. GM's retail share performance was assisted by reduced-rate APR financing capacity through GMAC and a GM loyalty cash offer. GM January total car sales of 43,943 were off 58 percent and total truck sales (including crossovers) of 85,284 were down 42 percent compared with a year ago. Additionally, retail sales for GM cars and crossovers combined were about 65 percent of sales mix in the month.

"We're attacking this unprecedented market as aggressively as possible, while offering more vehicles than ever that provide great value and that Americans enjoy owning," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "Our retail market share is a bright spot, holding steady above 21 percent for the second month in a row. That's a full point above the trailing 12-month average. It's important to realize that we accomplished this retail performance as the overall market ran about 6 million vehicles behind where it was last January (on a seasonally-adjusted annual rate) and every manufacturer was deeply impacted."

The newly-launched Chevrolet Traverse crossover continues to gain traction in the market place with total sales of more than 5,200 vehicles. Chevrolet's crossovers, HHR, Equinox and Traverse had 11,666 retail sales, a 10 percent increase compared with last year. The strength of Traverse's launch helped push retail sales of all GM crossovers to 20 percent of all retail vehicles sold by the automaker in January, up about 3 percentage points from a year ago.

"It is important for America to realize that in cars and crossovers, Chevy is fully competitive with Toyota and Honda and continues to gain strength. The Malibu is performing well and the Traverse is building momentum," LaNeve added. "We're doing our part to get vehicle sales moving again. For example, GMAC is providing more reduced-rate APR financing capacity with the Presidents Day Sale, and we're offering bonus cash on select models. Additionally, our national roll-out of the credit union 'Invest in America' program offers supplier pricing and available credit union financing for millions of members."

A total of 923 GM hybrid vehicles were delivered in the month, illustrating the wide range of hybrid product offerings available. GM offers the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade 2-mode hybrid SUVs, the Chevrolet Malibu and Saturn Aura mid-size sedan, and Saturn Vue compact crossover hybrids.

GM has announced reductions in first quarter production to adjust inventories for marketplace demand. This strategic move helped reduce inventories and related costs for GM and its dealers during this historic downturn, but the lack of production also meant that fleet vehicles, which typically are built to order, have been delayed. GM's fleet sales of just over 13,000 vehicles in January were at their lowest levels since 1975.

GM inventories dropped compared with a year ago. At the end of January, only about 801,000 vehicles were in stock, down about 103,000 vehicles (or 11 percent) compared with last year. There were about 363,000 cars and 438,000 trucks (including crossovers) in inventory at the end of January. Inventories were reduced about 70,000 vehicles compared with December. Importantly, of the pickup trucks in stock, 96 percent of the GMC Sierras and 97 percent of the Chevrolet Silverados are all-new 2009 models.

Certified Used Vehicles

January 2009 sales for all certified GM brands continue to be robust after a strong gain a month earlier. GM Certified Used Vehicles, Saturn Certified Pre-Owned Vehicles Cadillac Certified Pre-Owned Vehicles, Saab Certified Pre-Owned Vehicles, and HUMMER Certified Pre-Owned Vehicles, combined sold 39,293 vehicles.

GM Certified Used Vehicles, the industry's top-selling certified brand, posted January sales of 33,695 vehicles, up 1 percent from January 2008. Saturn Certified Pre-Owned Vehicles sold 947 vehicles, up 73 percent. Cadillac Certified Pre-Owned Vehicles sold 3,864 vehicles, up 20 percent. Saab Certified Pre-Owned Vehicles sold 538 vehicles, up 25 percent, and HUMMER Certified Pre-Owned Vehicles sold 249 vehicles, up 93 percent.

"The certified used vehicle programs are starting the year strong despite the tight credit market and slowdowns in consumer spending and retail demand for both new and used vehicles," said LaNeve. "We continue to offer consumers the largest selection of certified vehicles and a worry-free purchasing experience that comes with one of the best warranties in the business and a factory-certified, 117-point fully-inspected vehicle."

GM North America Reports January 2009 Production; Q1 2009 Production Forecast at 380,000 Vehicles

In January, GM North America produced 65,000 vehicles (6,000 cars and 59,000 trucks). This is down 232,000 vehicles or 78 percent compared with January 2008 when the region produced 297,000 vehicles (106,000 cars and 191,000 trucks). (Production totals include joint venture production of 3,000 vehicles in January 2009 and 13,000 vehicles in January 2008.)

The region's 2009 first-quarter production forecast is 380,000 vehicles (118,000 cars and 262,000 trucks), which is down about 57 percent compared with a year ago. GM North America built 885,000 vehicles (360,000 cars and 525,000 trucks) in the first-quarter of 2008.

General Motors Corp. (NYSE: GM), one of the world's largest automakers, was founded in 1908, and today manufactures cars and trucks in 34 countries. With its global headquarters in Detroit, GM employs 252,000 people in every major region of the world, and sells and services vehicles in some 140 countries. In 2008, GM sold 8.35 million cars and trucks globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM's largest national market is the United States, followed by China, Brazil, the United Kingdom, Canada, Russia and Germany. 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: our ability to comply with the requirements of our credit agreement with the U.S. Department of Treasury; the availability of funding for future loans under that credit agreement; our ability to execute the restructuring plans that we have disclosed, our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; and changes in general economic conditions, market acceptance of our products; shortages of and price increases for fuel; significant changes in the competitive environment and the effect of competition on our markets, including on our pricing policies. 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.

# # #

Toyota Motor Sales, U.S.A., reported January, 2009 sales of 117,287 vehicles, a decrease of 34.4% from last January, on a daily selling rate basis. The Toyota Division posted January sales of 102,565 units, a decrease of 34.9% from last January. The Lexus Division reported January sales of 14,722 units, a decrease of 30.3% from the year-ago month.

TORRANCE, Calif., Feb. 3 /PRNewswire/ — Toyota Motor Sales (TMS), U.S.A., Inc., today reported January sales of 117,287 vehicles, a decrease of 34.4 percent from last January, on a daily selling rate basis.

The Toyota Division posted January sales of 102,565 units, a decrease of 34.9 percent from last January. The Lexus Division reported January sales of 14,722 units, a decrease of 30.3 percent from the year-ago month.

Toyota Division

Toyota Division passenger cars recorded January sales of 60,017 units, down 30.8 percent from the same period last year. Passenger car sales were led by Camry and Camry Hybrid, which posted combined sales of 20,782 units. Corolla recorded sales of 19,238 units. Yaris reported sales of 4,440 units for the month. The Prius mid-size gas-electric hybrid posted January sales of 8,121 units.

Toyota Division light trucks posted January sales of 42,548 units, down 40 percent from January 2008. Light truck sales were led by the RAV4 compact SUV with January sales of 8,034 units. The Tacoma mid-size pickup reported sales of 7,619 units for the month. The Tundra full-size pickup reported monthly sales of 7,076 units. Highlander and Highlander Hybrid posted combined sales of 5,757 units.

Scion posted January sales of 3,923 units. The xB urban utility vehicle led the way with sales of 1,715 units. The tC sports coupe recorded sales of 1,241 units.

Lexus Division

Lexus passenger cars reported January sales of 7,246 units, a decrease of 37.7 percent from January 2008. Passenger car sales were led by the ES entry luxury sedan with January sales of 2,971 units. The IS entry luxury sport sedan reported combined sales of 2,400 units. The LS flagship luxury sedan reported combined sales of 904 units. The GS luxury sport sedan reported combined January sales of 898 units.

Lexus Division light trucks recorded January sales of 7,476 units, down 21.2 percent from the year-ago month. Lexus sales were led by the RX luxury utility vehicle, which posted combined January sales of 6,520 units. The RX 400h hybrid luxury utility vehicle reported sales of 1,556 units for the month.

TMS Hybrids

TMS posted January sales of 11,876 hybrid vehicles. Toyota Division recorded sales of 10,246 hybrids for the month. Lexus Division reported January sales of 1,630 hybrids.

There were 26 selling days this month, compared to 25 selling days and last January.

What was even more amazing was the drop in Mustang sales — down to a mere 2,944 units. That's the lowest monthly sales number for Ford's pony cars in — well, in as long as we can remember.

STRONG F-SERIES, FUSION SALES DRIVE FORD TO HIGHER RETAIL SHARE FOR FOURTH CONSECUTIVE MONTH

* Ford’s F-Series truck and Fusion mid-size sedan helped Ford achieve a fourth consecutive month of retail market share increases
* Total Ford, Lincoln and Mercury sales were 39 percent lower in January than a year ago; Fleet sales were 65 percent lower and retail sales to individuals were 27 percent lower
* Ford and overall industry sales in January were in line with company expectations; Retail demand appears to be stabilizing
* Ford continues to align production and inventories with demand; January inventories totaled 420,000 vehicles, down 156,000 from prior year

DEARBORN, Mich., Feb. 3, 2009 – Ford’s F-Series truck and Fusion mid-size sedan paced Ford to a fourth consecutive month of retail market share increases. Ford estimates its share of the January retail market was 12.7 percent, up 0.3 point versus a year ago. This marks the first time since 1995 Ford has achieved a retail market share increase four months in a row.

In January, Ford’s all-new F-150 truck picked up more accolades and market share. In January, the F-150 was named North American Truck of the Year and earned a quadruple 5-star crash test rating from the National Highway Traffic Safety Administration and a Top Safety Pick from the Insurance Institute for Highway Safety. Best-in-class capability and safety ratings and unsurpassed fuel economy appear to be driving F-Series appeal among buyers.

In January, the Fusion posted its highest retail share since August 2006. In March, the 2010 Fusion arrives in dealer showrooms as America’s most fuel-efficient mid-size sedan for both hybrid and conventional gasoline models.

The new Fusion Hybrid delivers 41 mpg in the city and 36 mpg on highway, topping the Toyota Camry Hybrid by 8 mpg in the city and 2 mpg on the highway. The new four-cylinder Ford Fusion S achieves 34 mpg on the highway and 23 mpg in the city, beating both the gasoline-powered Camry and Honda Accord.

The Ford Escape and Mercury Mariner small utility vehicles and the Lincoln MKS luxury sedan also contributed to Ford’s January market share increase.

Ford, Lincoln and Mercury sales totaled 90,596 in January, down 39 percent versus a year ago. Retail sales to individual customers were down 27 percent. Fleet sales were down 65 percent including a 90 percent decline in sales to daily rental customers.

Ford and industry sales in January were consistent with Ford planning assumptions.

“During the last four months, retail demand appears to have stabilized, and the strength of our new products is a key reason we’re growing our share in these challenging market conditions,” said Ken Czubay, Ford vice president, Sales and Marketing. “We expect new, recent and future fiscal and monetary actions to help improve conditions in the second half of the year.”

Ford inventories were 420,000 vehicles at the end of January, which is 156,000 vehicles lower than a year ago. During the past 12 months, Ford’s inventories were reduced by 27 percent – consistent with the company’s sales decline (22 percent) during this same period.

# # #

Note: The sales data included in this release and the accompanying tables are based largely on data reported by dealers representing their sales to retail and fleet customers.

About Ford Motor Company
Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 213,000 employees and about 90 plants worldwide, the company's wholly owned brands include Ford, Lincoln, Mercury and Volvo. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit http://www.ford.com

Thanks to the global economic Carpocalypse, and despite a growth in sales in the Asia Pacific region of 3%, GM still managed to sell fewer vehicles last year than Toyota. It allows the Japanese automaker to wrest the global sales crown from GM it's held for 77 years. The General has reigned atop the global auto sales pyramid since snatching the crown itself from Henry Ford in 1931.

While many have argued Toyota bested GM last year when the Japanese automaker produced more vehicles than the biggest of the not-so-Big Three in 2007. But not so fast as the General doggedly held on to the title of global auto sales champ. Since the crown's been determined primarily on the metric one finds most important, the true "largest automaker" title's really been up in the air. However, with these new numbers, that last debating point is dead. Toyota is truly now the world's biggest automaker.

Full press release below:

GM Announces 2008 Global Sales of 8.35 Million Vehicles

* GM Asia Pacific sales volume grows 3 percent; Chevrolet sales in China grows 16 percent to nearly 200,000 vehicles; 1.09M vehicles sold in China sets record with 6 percent volume growth
* Third consecutive year of more than 2 million vehicles sold in Europe; Chevrolet sales breakthrough 500,000 mark with record share; Opel sets sales record in Central and Eastern Europe with volume up 13 percent
* GM beats the industry with more than 1.27 million total vehicle sales in Latin America, Africa and Middle East Region led by top-selling Chevrolet Corsa, Celta and Aveo
* GM continues emerging markets leadership with 2008 market share growth in 14 of 26 markets

DETROIT – Record-setting sales performance in GM’s Latin America, Africa and Middle East and Asia Pacific regions, and a third consecutive 2 million vehicles sales performance in Europe during 2008, helped General Motors sell more than 8.35 million vehicles globally last year. GM’s nearly 3 percent growth in both the Asia Pacific and Latin America, Africa and Middle East regions partially offset North America sales that declined 21 percent, and growing pressure in Europe that resulted in 7 percent fewer sales. Compared with 2007, GM’s total sales were down 11 percent, reflecting continuing global economic pressures that include tightening credit, falling commodities prices and lack of GDP growth.

In 2008, GM sold 5.37 million vehicles outside the U.S., accounting for 64 percent of total global sales volume compared with 59 percent a year ago.

In the fourth quarter of 2008, GM sales of 1.70 million vehicles were down 26 percent compared with the same quarter a year ago. Most of that decline was reflected in 379,000 fewer vehicles sold in North America as the market yielded to a crushing lack of consumer confidence, and tightened credit requirements, in the United States.

GM Continues Growth in Emerging Markets

“GM’s 2008 sales performance shows that we are continuing to take advantage of new emerging market opportunities and are meeting customer needs with fuel-efficient products that offer compelling design and great value – such as the award-winning Opel/Vauxhall Insignia in Europe, the Buick Excelle in China and the Corsa in Latin America,” Jonathan Browning, vice president, global sales, service and marketing, said today. “We saw sales volume increases in the key four emerging markets of Brazil (up 10 percent), Russia (up 30 percent), India (up 9 percent), and China (up 6 percent).”

“The challenges in the global financial markets, including credit tightening, the drop in commodity prices, and economic uncertainty continue to negatively impact overall demand for new vehicles,” Browning added. “For the total global industry, we saw about 3.5 million fewer vehicles sold in 2008 than the previous year.” With these market challenges comes significant opportunity and GM is well-positioned with new products either on showroom floors or on the way in the near future.

Chevrolet sales in Asia Pacific grew 14 percent in 2008 compared with a year ago. Chevrolet sales in China (up 16 percent) and India (up 9 percent) powered much of this growth. The Wuling brand continued strong growth in China with sales up 17 percent in 2008 compared with a year ago. The Buick channel is very strong in China with the all-new Regal and soon-to-be-launched LaCrosse. The Chevrolet Cruze and Cadillac SRX also will play important roles in taking advantage of China growth in the months and years ahead.

In the Latin America, Africa and Middle East region – a traditional Chevrolet stronghold – 2008 sales grew 3 percent compared with 2007. Chevrolet accounted for nearly 90 percent of GM’s sales in the region and Brazil remains the second-largest volume market for Chevrolet. Also, GMC, Cadillac and Saab showed impressive annual percentage increases in their sales volume – up 24, 22 and 16 percent, respectively, compared with a year ago. GM sales in the LAAM region beat the expected industry performance, with more than 1.27 million vehicles sold.

A large, relatively young population with a low car-per-capita ratio, hold promise for the market in years to come. Several new Chevrolet product launches are on tap for 2009 including the Cruze, Malibu, Traverse and Camaro.

Chevrolet sales in Europe also contributed to the brand’s solid 2008 results, growing 11 percent and breaking though the 500,000 vehicle mark for the first time. Chevrolet is also performing strongly in emerging markets. It remains the top-selling import brand in Russia. In addition, Opel sales in Russia increased by 49 percent, while Saab increased 68 percent in 2008 compared with a year ago. The Opel Insignia won the prestigious European Car of the Year Award – a first for Opel in 22 years and a strong statement about GM’s global midsize vehicle architecture. Important launches for GM this year in the region include the Opel Insignia Sports Tourer and Astra; Chevrolet Cruze; and the new Saab 9-3X and 9-5.

A highlight of GM’s North America regional performance was the all-new Chevrolet Malibu sedan that achieved the highest percentage gain in annual sales volume (39 percent) of any of the top-20 selling vehicles in the United States. While GM’s total North America vehicle sales volume in 2008 declined 21 percent, there were a number of bright future product opportunities highlighted at the North America International Auto Show in Detroit this month. They included the new Chevrolet Camaro and second-generation Equinox; the second-generation Cadillac SRX and all-new CTS sport wagon; and the Buick LaCrosse.

Sales of Cadillac outside of the United States were supported by strong growth of the brand in Latin America, Africa and Middle East (up 22 percent).

Note: Global sales results are based on preliminary numbers reported and have been rounded.

General Motors Corp. (NYSE: GM), one of the world’s largest automakers, was founded in 1908, and today manufactures cars and trucks in 34 countries. With global headquarters in Detroit, GM employs 252,000 people in every major region of the world, and sells and services vehicles in some 140 countries. In 2008, 8.35 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, Hummer, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. 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: 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: our ability to comply with the requirements of our credit agreement with the U.S. Department of Treasury; the availability of funding for future loans under that credit agreement; our ability to execute the restructuring plans that we have disclosed, our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; and changes in general economic conditions, market acceptance of our products; shortages of and price increases for fuel; significant changes in the competitive environment and the effect of competition on our markets, including on our pricing policies. 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.

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Chrysler LLC Reports December 2008 U.S. Sales

- All Jeep(R) brand vehicles achieved sales growth over November 2008

- Chrysler Town and Country sales increased nine percent and Dodge Grand Caravan sales grew 14 percent compared to November 2008

- Dodge Ram light duty pickup sales rose ten percent versus November 2008

AUBURN HILLS, Mich., Jan. 5 /PRNewswire/ — Chrysler LLC today reported total December 2008 U.S. sales of 89,813 units, up five percent versus November 2008 (85,260 units), and down 53 percent from the same month in 2007. For the year, Chrysler, Jeep(R) and Dodge U.S. sales decreased 30 percent (1,453,122 units) compared to total 2007 sales (2,076,650 units). Total sales were significantly affected by the industry's largest reductions in fleet sales, 63 percent for December and 31 percent for the year.

"Last year Chrysler and all of our stakeholders persevered through extraordinarily difficult economic conditions, made the necessary adjustments and always kept our focus on serving our customers," said Jim Press, President and Vice Chairman, Chrysler LLC. "As a result, our Company and our dealer network start this year stronger and better positioned to succeed in today's marketplace."

"From a customer perspective, we see consumers selecting vehicles based on their long-term transportation needs and committing to keeping vehicles for longer periods. As a result, characteristics such as utility, flexibility, efficiency and quality will grow in importance. In terms of product focus, Chrysler will continue to invest in quality and fuel efficiency improvements on its current lineup, while developing all-new vehicles for the next generation. From an organizational viewpoint, we will work with all of our stakeholders to continue the restructuring our Company. We have a special bond with the American people now and pledge to continue our efforts to provide the best quality and best value in the marketplace. We are committed to help drive America forward."

December Sales Highlights

— All Jeep brand vehicles achieved sales growth over November 2008 sales. Jeep Wrangler, the brand's top-selling model, marked sales growth of 15 percent (7,048 units) over November.

— Sales of the Jeep Patriot were up six percent in December (2,597 units) compared to November 2008. Year-to-date, Patriot sales grew 38 percent to reach 55,654 units.

— Minivan sales gained momentum over November. Chrysler Town and Country sales in December grew nine percent (8,152 units) and Dodge Grand Caravan sales increased 14 percent (6,927 units).

— Dodge Ram light duty pickup sales were up 10 percent (10,601 units) compared to November 2008, fueled by the availability of the all-new 2009 Dodge Ram.

— The Company finished the month with 397,569 units of inventory, or a 115-day supply. Inventory is down nine percent compared with December 2007, when it totaled 438,390 units.

January Incentives

Chrysler continues to offer customers highly competitive discount and financing programs to kick off 2009. In addition to offering discounts of up to $6,000 on 2008 MY vehicles and up to $3,000 on 2009 MY vehicles to all customers, the Company is also working with Chrysler Financial and additional financing companies around the country to create packages that offer customers a wide range of options for lease and purchase financing. On select 2008 models, 0% financing is available for 72 months, and rates as low as 1.9% APR are available on select 2009 models.

For the new year, Chrysler has entered into a partnership with Credit Unions across the nation to offer an additional $500 to $1,000 discount when any of the 90 million members of Credit Unions purchase or lease a new Chrysler, Jeep or Dodge vehicle. This program was successfully piloted in December in 12 states.

Here's the full press release:

F-SERIES DRIVES FORD TO HIGHER MARKET SHARE FOR THIRD CONSECUTIVE MONTH

* Ford, Lincoln and Mercury market share climbs again in December, marking third consecutive month of higher share
* Market share increases driven by F-Series truck; new F-150 piles up more sales and accolades
* Ford Flex caps 2008 with best sales month so far
* Ford Focus posts best sales year since 2004
* Ford Fusion ushers in next generation with near record sales in 2008
* Lincoln outperforms its luxury competitors, grows market share as 2008 concludes

DEARBORN, Mich., Jan. 5, 2009 – New vehicles, including the all-new F-150 truck, and fuel-efficient powertrains are winning over customers for Ford, Lincoln and Mercury, which realized market share increases for a third consecutive month in December. Ford estimates its market share was 14.6 percent in December, up 0.7 of a point versus a year ago. This marks the first time since 1997 Ford has achieved a market share increase three months in a row.

“This is a strong ending to end a very challenging year,” said Jim Farley, Ford’s group vice president, Marketing and Communications. “In addition to finishing the year with increased market share, we received several accolades from third parties concerning our world-class quality and safety, and we turned some heads on the fuel economy front with our 41 mpg Fusion Hybrid, the most fuel-efficient mid-size sedan in America.”

The F-Series truck played a key role in Ford’s fourth quarter market share gains. The all-new F-150 accounted for 8,600 of total F-Series sales in December, an increase of 84 percent compared with November 2008. For the year, F-Series sales totaled 515,513.

“Our thanks go out to our customers, our dealers and, of course, the Ford employees and supplier partners who design, engineer and manufacture quality, fuel-efficient trucks delivering unmatched capability,” Farley said. “The all-new F-150 affirms what Ford has known for years – that listening to customers provides the best rewards.”

The all-new F-150 recently was named 2009 Motor Trend Truck of the Year™, a finalist for the North American Truck of the Year and the Texas Auto Writers Association’s “Truck of Texas.”

Ford Flex, the company’s newest crossover utility, finished 2008 with its best sales month of the year, netting 2,685 sales. Flex has the highest conquest rate of any Ford vehicle and is a finalist for the North American Car of the Year.

In other car news, Ford Focus posted full-year sales of 195,823, the small car’s highest sales year since 2004 and up 13 percent versus full-year 2007. Focus parlayed SYNC technology and 35 mpg highway fuel economy, which is 5 mpg better than Toyota’s Corolla and 2 mpg better than the smaller Honda Fit, to achieve a market share increase in the competitive small car segment – its first share increase since Focus was introduced during the 2000 model year.

Meanwhile, Ford Fusion posted near-record sales of 147,569 units in 2008. Fusion, Mercury Milan and Lincoln MKZ are redesigned for the 2010 model year and will arrive in dealer showrooms this spring. The first-ever Fusion Hybrid will be America’s most fuel-efficient mid-size car with 41 mpg in the city and 36 mpg on highway – besting the Toyota Camry hybrid by 8 mpg in the city and 2 mpg on highway.

In premium news, Lincoln outpaced the competition as 2008 drew to a close.
Helped by the all-new Lincoln MKS sedan, Lincoln sales totaled 9,053 in December, down 10 percent compared with a year ago. In the fourth quarter, however, Lincoln increased its share in the luxury market as its 16-percent sales decline was less than half of the average decline of all other luxury brands.

U.S. Sales
In December, Ford, Lincoln and Mercury sales totaled 134,114, down 32 percent compared with a year ago. Retail sales to individual customers were down 27 percent, and fleet sales were down 42 percent (including a 57 percent decline in daily rental sales), consistent with Ford’s plans.

For the full year, Ford, Lincoln and Mercury sales totaled 1.9 million, down 20 percent versus a year ago. Retail sales were down 22 percent, and fleet sales were down 17 percent (including a 22 percent decline in daily rental sales), in line with Ford’s plans.

U.S. Market Share
In the Fourth Quarter, Ford, Lincoln and Mercury’s market share is estimated at 15.0 percent, up 0.9 points versus a year ago. This is the first time since 2001 that the company’s Fourth Quarter market share was higher than a year ago.

For the full year of 2008, Ford, Lincoln and Mercury’s market share is estimated at 14.2 percent, down 0.4 points versus a year ago. This marks the company’s smallest decline in market share this decade.

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Note: The sales data included in this release and the accompanying tables are based largely on data reported by dealers representing their sales to retail and fleet customers.

About Ford Motor Company

Ford Motor Company, a global automotive industry leader based in Dearborn, Mich., manufactures or distributes automobiles across six continents. With about 224,000 employees and about 90 plants worldwide, the company's core and affiliated automotive brands include Ford, Lincoln, Mercury, Volvo and Mazda. The company provides financial services through Ford Motor Credit Company. For more information regarding Ford's products, please visit http://www.ford.com

[via Ford]

We just saw the following chart of Top 10 retail vehicle sales for October, 2008 showing the Ford F-150 and Chevy Silverado overtaking the Toyota Camry and Corolla. Looks like that drop in gas prices to under $2 per gallon due to a lack of economic growth have already made us forget about the summer pains of high gas prices. Back to the good ol' days of 2006 when 'merican automakers built the kinda vehicles 'mericans want to buy! Well, if they had access to credit. Yee-HAW! [via AIADA]

Chris Lemley, a Boston Ford, Lincoln Mercury and Mazda dealer, claims that many folks are visiting his showroom just to look around, convinced that they're not able to obtain a loan. "Many of them can," he says. "It's more psychological than anything. Once consumer sentiment turns negative, it's hard to turn it back."

So what can dealers and automakers do to loosen consumers' purse strings? Incentives like GM's employee pricing for everyone and, more recently, Toyota's 0% APR financing deals, will likely entice those buyers with good credit and the means to purchase into showrooms. But until consumers feel that they can get a loan — and that they'll continue to have a job with which to pay it back — deferred purchases will continue to create a vicious cycle for dealers and automakers. [Detroit News]