GM Reports 151,427 Total Sales in November

Retail Sales for Buick, Cadillac, Chevrolet and GMC Up 10 Percent

2009-12-01

DETROIT – GM dealers in the U.S. delivered 151,427 vehicles in November. While this represents a decline of 2 percent compared with November 2008, GM retail sales were up 1 percent for the month. Total sales for Chevrolet, Buick, GMC and Cadillac were up 6 percent vs. the prior year. Retail sales for these brands were up 10 percent vs. the prior year, and currently represent 94 percent of GM’s retail sales

performance.  

“Consumer interest in our launch vehicles remains solid,” said Susan Docherty, GM vice president, U.S. Sales. “We’re working to strengthen our Chevrolet, Buick, GMC and Cadillac brands by providing cars, crossovers and trucks with the sales and service experience that our customers deserve. We have more to do, but we’re committed to earning consideration and future sales by delivering great products in every segment.”

November quick facts:

• Combined retail sales of Buick, Cadillac, Chevrolet and GMC represented 94 percent of GM retail sales, up from 86 percent in November 2008
• Total GM retail sales increased 1 percent when compared with the prior year
• Retail sales for Buick, Cadillac, Chevrolet and GMC increased 10 percent for the month compared with November 2008
• Retail sales of our six launch vehicles comprised 22 percent of total GM retail sales, more than one out of five retail sales, and volume was 6 percent higher than last month
• Retail sales of Buick, Cadillac, Chevrolet and GMC Crossover launch vehicles were up 140 percent vs. a year ago compared with the vehicles they replace
• Combined retail sales of crossovers and cars were 60 percent of GM retail sales for the month, compared with 46 percent in November 2008 – the eighth month at this level in 2009
• Total sales for GM full-size pickup trucks were down 24 percent for the month, compared to November 2008
• Fleet sales declined 9 percent vs. November 2008

Management Discussion of November Sales Results

 “We continue to be encouraged by the latest information which shows the U.S. economy strengthening,” said Mike DiGiovanni, executive director, Global Market and Industry Analysis. “For example, we estimate that housing starts will probably rise to about 600,000 to 650,000 by the end of 2010, which will have a positive effect on the economy and will also help support improvement in light-duty pickup truck sales.”

U.S. Economy

·         Credit spread has returned to normal levels. However, consumer credit continues to contract – reflecting both weak credit demand 

and cautious bank lending

·         Consumer confidence fell slightly in November, but remains much improved from the trough in February

·         Manufacturing sector is increasing output due to depleted current inventories

·         Job losses continue to slow, however employment levels continue to be a concern

·         Housing starts, new and existing home sales, and home prices are beginning to stabilize

U. S. Auto Industry

·         The U.S. November 2009 SAAR is estimated to be slightly higher than October – approximately 11.0 million (total industry estimate)

·         Industry inventory levels are anticipated to increase moderately through Q4 to support modestly rising industry sales

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