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July 2008 Sales: General Motors

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GM Reports 235,184 Deliveries in July



For Release: August 1, 2008

GM Reports 235,184 Deliveries in July
  • Chevrolet Malibu total sales up 79 Percent, Aveo up 17 percent and Cobalt up 4 percent compared with last July
  • Cadillac CTS sales increased 38 percent
  • Pontiac G5 sales up 17 percent, Vibe up 7 percent and G6 up 6 percent
  • Saturn Aura sales increased 24 percent with Sky up 14 percent, Astra has best month
  • Buick Enclave mid-utility crossover sales increase 28 percent

DETROIT – GM today announced July sales results, highlighted by continued strong performance in small and midsize cars and crossovers. GM dealers in the United States delivered 235,184 vehicles in July, down 26.7 percent. Weak industry conditions caused by a challenging U.S. economic environment, higher fuel prices and inventory shortages in critical segments such as compact cars contributed to the overall sales decline for the month.

“In July, we saw strong performance once again in our launch products, including the Cadillac CTS, Chevrolet Malibu, Saturn Astra, and Pontiac Vibe and G8. In addition, we continued to see strong retail demand for our fuel efficient Chevrolet Aveo and HHR, Saturn Vue and Buick Enclave. So, despite an overall weak market, there are pockets of strength,” said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. “Obviously, the weakness in the truck market persisted in July, yet we continue to hold share due to our fuel economy leadership in many truck segments despite dramatic competitive incentive spending increases.” Overall, GM truck sales in July declined 41.5 percent.

Chevrolet cars continued to show strength in the marketplace with Malibu total sales up 79 Percent, Aveo up 17 percent and Cobalt up 4 percent compared with last July.

Cadillac CTS dominated the mid-car luxury category with sales increasing 38 percent compared with the same month a year ago.

Pontiac met consumers’ needs for fuel efficient vehicles with a performance edge with G5 sales up 17 percent, Vibe up 7 percent and G6 up 6 percent compared with July 2007.

Saturn’s award-winning Aura midsize car saw a sales increase of 24 percent with the two-seat Sky selling 14 percent more vehicles than July last year. Astra monthly sales of more than 1,500 vehicles were the best to date, and show a 75 percent increase compared with June 2008 (Astra was not available last July).

GM’s popular midsized crossovers -- Buick Enclave, GMC Acadia and Saturn Outlook -- together accounted for more than 11,600 vehicle sales in the month.

GM hybrid vehicles continue to gain in popularity in the marketplace with 228 hybrid Chevrolet Tahoe and 123 GMC Yukon 2-mode SUVs delivered. There were 349 Chevrolet Malibu, 29 Saturn Aura and 362 Vue hybrids sold in July. For the month, a total of 1,091 hybrid vehicles were delivered, with 5,467 hybrids sold so far this year.

“We’re working hard to change perceptions and gain awareness of GM as the leader in advanced propulsion technology and fuel efficiency,” LaNeve added. “Customers can experience that each time they visit a dealer’s showroom to see the full lineup – including five hybrid models -- that provide industry-leading value, great fuel economy and the best warranty coverage of any full-line automaker. We don’t just talk about technology, fuel efficiency and value – we have the cars and trucks available today to back it up.”

GM has aggressively managed inventories to low levels. In July, only about 747,000 vehicles were in stock – a three-year low – down about 201,000 vehicles (21 percent) compared with last July. There were about 236,000 cars and 511,000 trucks in inventory at the end of July.

Certified Used Vehicles

July 2008 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 41,594 vehicles, down 2 percent from July 2007. Year-to-date sales are 298,137 vehicles, down nearly 6 percent from the same period last year.

GM Certified Used Vehicles, the industry’s top-selling certified brand, posted July sales of 35,799 vehicles, down 4 percent from a strong July 2007 sales performance. Cadillac Certified Pre-Owned Vehicles sold 3,700 vehicles, up 22 percent. Saturn Certified Pre-Owned Vehicles sold 1,164 vehicles, down 24 percent. Saab Certified Pre-Owned Vehicles sold 770 vehicles, up 21 percent, and HUMMER Certified Pre-Owned Vehicles sold 161 vehicles, up 89 percent.

“Our luxury certified pre-owned programs – Cadillac, Saab and HUMMER Certified Pre-Owned Vehicles – each posted strong sales increases last month, and GM Certified Used Vehicles is again setting the pace to lead the segment in sales this year,” said LaNeve. “We’re confident more shoppers will seek the quality and value that manufacturer certification offers.”

GM North America Reports July, 2008 Production; Third-Quarter Production Forecast Remains at 900,000 Vehicles


In July, GM North America produced 238,000 vehicles (116,000 cars and 122,000 trucks). This is down 16,000 vehicles or 6 percent compared with July 2007 when the region produced 254,000 vehicles (91,000 cars and 163,000 trucks). (Production totals include joint venture production of 14,200 vehicles in July 2008 and 13,000 vehicles in July 2007.)

The GM North America third-quarter production forecast is unchanged from last month at 900,000 vehicles (456,000 cars and 444,000 trucks) which is down about 12 percent compared with a year ago, due to production adjustments in response to market changes that will reduce the number of trucks produced by about 209,000 and increase the number of cars by about 89,000. GM North America built 1.020 million vehicles (367,000 cars and 653,000 trucks) in the third-quarter of 2007 .

General Motors Corp. (NYSE: GM), the world’s largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 35 countries. In 2007, nearly 9.37 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: GM sales and production results are available on GM Media OnLine at http://media.gm.com 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: 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; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt; and changes in general economic conditions. 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.



Source: media.gm.com (includes sales table)

If anyone wants to post a pretty-looking table, be my guest.
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Glad to see the Astra doing better.

Wonder if GM does the horrible restyle thing with the G6 if it will tank also.

Glad to see Malibu and CTS doing so well, the deserve to do well.

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...ouch, Solstice, one of my fav. GM cars is down, and buick is down big.

Hummer is down huge...

Chris

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Based on daily sales rate, Buick was down 44.5%. Saab was down 42.4%, GMC down 42.5 %, Hummer was down 65%. Why does GM see all 8 brands as so sacred when all of them are posting pathetic sales, and month after month post big losses.

Chevrolet and Cadillac were down over 30%, that should be a red flag that they need better products.

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Ouch! The Buick Invicta/Chevy Cruise/Chevy Camaro and other new GM products can't get here fast enough. Seems like the oldest models (DTS/Lucerne/Impala/etc) are in a free fall.

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Impala sales are getting lower because of less fleets and a new ultra good looking Malibu. Honestly aside of Lucerne and DTS down-fall I am not suprised with the price of gas. Silverado, Tahoe and Suburban sales were better than I thought they would be.

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i really like the Astra and Auras upswing. I see lots of Auras now that they offer the 4 popper. Aura is a great buy for the everyday commuter. this could be a turning point for saturn getting their mojo back.

Impala is a nice car but looks like it is getting cannibalized by Malibu. Chevy needs to get creative and really package the Malibu in ways that will motivate people. Special packages and such with lots of features for a good price.

g8 sales are not good. But look people, all those little FWD crackerboxes are keeping pontiac alive. g5 sold 2600 units! And you wonder why they have that stuff in the lineup. dealers need something that will keep the doors open!

H3....OMG

Edited by regfootball
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Enclave and Acadia are doing very well... especially for being on the same showroom floor. The Outlook is suffering. The Traverse will just kill Outlook sales entirely.

Buick Lucerne sales are down, but it outsold the Toyota Avalon, Genesis, Azera, Passat, Sable, and Chrysler 300 (all premium mid-to-large sedans). The Lucerne actually almost sold as much as the Ford Taurus and new-for-2009 Maxima... so, considering the market conditions, Lucerne is still holding its own pretty damn well.

The LaCrosse replacement will debut and go on sale in a matter of months... no need to fret.

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Enclave and Acadia are doing very well... especially for being on the same showroom floor. The Outlook is suffering. The Traverse will just kill Outlook sales entirely.

Buick Lucerne sales are down, but it outsold the Toyota Avalon, Genesis, Azera, Passat, Sable, and Chrysler 300 (all premium mid-to-large sedans). The Lucerne actually almost sold as much as the Ford Taurus and new-for-2009 Maxima... so, considering the market conditions, Lucerne is still holding its own pretty damn well.

The LaCrosse replacement will debut and go on sale in a matter of months... no need to fret.

It should outsell all of these, it is IMHO a MUCH more impressive car than any of the ones you mentioned.

Chris

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The Camry outsold the Malibu, G6 and Aura combined. 3 models off one platform with 3 marketing campaigns and 3 dealership channels, outsold by 1 car with 1 sales channel, with 1 marketing campaign. Hmmmm.

GM has sold 5500 hybrids year to date, Toyota/Lexus 166,000. It is a good thing GM is ready to make smaller engines when customers are ready. They better to a 2-year market study, then 1 year of building a business case just to make sure before they try it. In the meantime, the H3 pickup, and 8 seater Traverse come out this fall.

Quote:

"Cadillac CTS dominated the mid-car luxury category with sales increasing 38 percent compared with the same month a year ago."

The piece of crap Lexus ES350 outsold it 5,563 to 5,262. So it isn't dominating mid-size segment. The 3-series sold 11,303 units in July, 5-series sold 4,525, all Cadillac cars combined sold 8,600. The CTS is up 10,000 units this year, but the DTS, STS and XLR are down over 11,000. The brand hasn't grown any. They need 5 models that are more competitive than the CTS is. Cadillac's budget needs to double, if that comes at the expense of another brand, oh well.

Edited by smk4565
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The Camry outsold the Malibu, G6 and Aura combined. 3 models off one platform with 3 marketing campaigns and 3 dealership channels, outsold by 1 car with 1 sales channel, with 1 marketing campaign. Hmmmm.

The Camry outsells all other sedans by all manufacturers... how many other manufacturers does GM outsell in combined sedan sales? oh yeah... everyone else but Toyota & Honda. If GM is that "horrible" being 3rd then everyone else needs to quit now. Most mainstream manufacturers will never see a single unit or platform move 40,000+ vehicles in a month. GM moving over 37,000 in a month is still pretty damn impressive.

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The Camry outsold the Malibu, G6 and Aura combined. 3 models off one platform with 3 marketing campaigns and 3 dealership channels, outsold by 1 car with 1 sales channel, with 1 marketing campaign. Hmmmm.

GM has sold 5500 hybrids year to date, Toyota/Lexus 166,000. It is a good thing GM is ready to make smaller engines when customers are ready. They better to a 2-year market study, then 1 year of building a business case just to make sure before they try it. In the meantime, the H3 pickup, and 8 seater Traverse come out this fall.

Quote:

"Cadillac CTS dominated the mid-car luxury category with sales increasing 38 percent compared with the same month a year ago."

The piece of crap Lexus ES350 outsold it 5,563 to 5,262. So it isn't dominating mid-size segment. The 3-series sold 11,303 units in July, 5-series sold 4,525, all Cadillac cars combined sold 8,600. The CTS is up 10,000 units this year, but the DTS, STS and XLR are down over 11,000. The brand hasn't grown any. They need 5 models that are more competitive than the CTS is. Cadillac's budget needs to double, if that comes at the expense of another brand, oh well.

Yeah, I'm really surprised I don't see more of these new 2008 CTS' on the road. I see them here and there, but not in the kind of numbers I see for all the import luxury cars. Although I do think Cadillac sort of holds its own around Houston, especially in the older money sections of the city, I think they're falling out of favor amongst the younger, hip crowd (where BMW, Lexus and Infiniti seem to be the most popular luxury nameplates). Every once in a blue moon I'll see a new Caddy out in front of a wine bar where 30 somethings hang out, but it's usually an Escalade (although I did spot a pearl white CTS and a new Vette out in front of a trendy 30 something wine bar a few weeks back, I almost thought I was in Detroit or some Midwestern town for a minute, hahahahahahaha!). What's interesting is when I talk to some of my wife's attorney friends about their cars (mostly Bimmers and the like), they all tend to say they like or would consider a Cadillac too. I don't know, Caddy is that one brand at GM that I think has really surprised me the most. The last generation CTS (and current STS in a way) has sort of given this brand some real clout in the market place. They need to keep nurturing it, I think this is the one brand from GM here in the US that still has a somewhat positive image. This all said, the 2008 CTS should be selling a lot better I feel, especially considering the rave reviews it's received in the press.

I think the biggest problem with the new CTS is price. My wife and I (it's my wife's daily driver) bought an 08 G35 back in April, and for the money it packs way more features than the CTS did. If we wanted to equip an 08 CTS the same way we equipped our G35, (NAV screen, upgraded stereo, 304 hp V6, etc) we would have had to pay about $5,000 or $6,000 more than what we paid for the G. That's a lot of money. I looked at a CTS that was about the same price as our G35, and it didn't have the direct injection engine and NAV - and my wife really wanted the Navigation system with the XM traffic. It really disappointed me because I wanted us to have a Caddy at the end of the day. I was a little bummed honestly - I really thought having a new CTS would be cool, but it would have been way more expensive to have one with all the same features. And as much as I hate to write this, the G35 does have a little bit better seat of the pants driving experience too. I loved the Cadillac - in fact I think the new CTS is simply a beautiful, compelling design that is one of the best to come out of GM since their glory days of the 60s - but at the end of the day, it's just a little too pricey.

I'm sure GM is making (or will make) money on the new CTS, but I think the strategy should have been to make the DI V6 and the $8,000 technology package as standard equipment and made the car sticker for $36,000 or so (like our G35). They'd probably be selling a lot better that way honestly. Seeing that $43,000 sticker probably makes a lot of buyers (like us) who are cross shopping G35's and Lexus IS' walk away unfortunately.

Edited by gmcbob
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One thing I want to add about Caddy : they need a really good car that can compete with the LS460/GS460. They don't have that. The STS is nice, but it's not as nice as the LS or GS I'm afraid, and I won't even talk about how foolish the DTS seems to me. The DTS should have been taken out back and shot 10 years ago. The DTS is a perfect example of GM just churning out outdated product until the machinery breaks to maximize the amount of profit they're making on each unit. GM needs to bring out a really proper big rear driver (Zeta based) for Caddy that simply blows away an LS or 7 Series in the technology/luxury/feature department. Caddy has the name to pull this off and get $75,000 for it if they really wanted to. They'd be making so much profit on one of those it would be silly. In fact, why this wasn't done instead of bringing out the G8 is sort of a mystery to me to be honest. But I guess that's good ole GM just doing things that boggle the mind. :rolleyes:

Edited by gmcbob
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The CTS is a good car, but not a great car. I drove one that stickered at $50,000 and it didn't have thrilling performance or an over the top interior. The CTS is far from BMW performance and the interior and materials are just average for a $45-50k car. The Mercedes C-class is outselling the CTS, the 3-series is outselling it 2 to 1 (I know BMW has wagon/coupe/convertible, but Cadillac should have been working on that years ago). The CTS is only the 4th best seller in it's class, if that is the best Cadillac has, it isn't enough.

A Cadillac zeta sedan would be really heavy, and Cadillac doesn't have 400 hp DOHC V8 or 7 or 8 speed transmission, which they would need just to be class average in the 7-series/S-class/LS460 class. GM has yet to even build a credible threat to the 5-series, so going after the 7-series is a real challenge. I've been saying for years Cadillac needs a real flagship, but if you want to beat the Europeans in refinement and technology, you don't go to Australia to get the chassis to do it. It would take a lot of time and money to develop that car, and GM has neither because they spend the last 10 years making SUVs and the money is spread out of 60 models on 8 brands.

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>>"Cadillac doesn't have 400 hp DOHC V8"<<

For once, you are correct. Cadillac does NOT have a 400-HP DOHC V-8.

They do, however, have a 469 hp DOHC V-8 and a 443 hp DOHC V-8.

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I will repeat what I say about the Camry and it's sales every month: They LEASE the crap out of it. You cannot open a newspaper or watch TV without being bombarded with the Camry at $169-$189/Mo no money down lease being thrown at you! GM offers NOTHING that size for that kind of money in that class. Period. Honda is right behind them with great leases on Accord.

Simply put, if the Toyota and Honda were not so highly incentivised, the numbers might swing the other way or be a bit closer. But, with gas @ $4.00, people are buying/leasing based on payments alone.

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I will repeat what I say about the Camry and it's sales every month: They LEASE the crap out of it. You cannot open a newspaper or watch TV without being bombarded with the Camry at $169-$189/Mo no money down lease being thrown at you! GM offers NOTHING that size for that kind of money in that class. Period. Honda is right behind them with great leases on Accord.

Simply put, if the Toyota and Honda were not so highly incentivised, the numbers might swing the other way or be a bit closer. But, with gas @ $4.00, people are buying/leasing based on payments alone.

What do you think GM is doing with all of the 0% for 72 months sales? They're not borrowing that money for free!

Have you seen the incentives on large trucks at Chevy GMC & Caddy stores?

Or why they wrote of $1 billion + this quarter for loss of residual value on trucks?

And remember, an Accord or Camry is worth alot more at the end of the lease...so the amount being subvented is relatively small---placing GM in another quandry about how to reverse its current path. That's the problem with going broke, all of your options become narrowed and the death spiral gets steeper.

Honda and Toyota learned from the Big 3 how to throw an incentive laden party. They're just tightening the noose and keeping the factories humming at this point.

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>>"Cadillac doesn't have 400 hp DOHC V8"<<

For once, you are correct. Cadillac does NOT have a 400-HP DOHC V-8.

They do, however, have a 469 hp DOHC V-8 and a 443 hp DOHC V-8.

Those guzzle more gas than the Mercedes 5.5 liter though, and the Northstar is old. They need a new engine and they canceled it. Cadillac always being behind hurts, because even if they come out with a new V8, attached to the two-mode hybrid with an 8-speed transmission, Lexus would have already done that a few years earlier. It would be nice if they could blow away the 7-series, but they don't have in-car the mechanicals or features like in-car internet and messaging seats at their disposal. They are years behind, which I think is due to lack of funding going into Cadillac, and being wasted on dying brands.

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I will repeat what I say about the Camry and it's sales every month: They LEASE the crap out of it. You cannot open a newspaper or watch TV without being bombarded with the Camry at $169-$189/Mo no money down lease being thrown at you! GM offers NOTHING that size for that kind of money in that class. Period. Honda is right behind them with great leases on Accord.

Simply put, if the Toyota and Honda were not so highly incentivised, the numbers might swing the other way or be a bit closer. But, with gas @ $4.00, people are buying/leasing based on payments alone.

Heavy incentives on the Accord? I don't see anything but a couple lease specials, which are $219 for the base model and up, right now. It is the "08 Honda clearance" right now, which they have every year. The leases are probably a little higher otherwise.

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Heavy incentives on the Accord? I don't see anything but a couple lease specials, which are $219 for the base model and up, right now. It is the "08 Honda clearance" right now, which they have every year. The leases are probably a little higher otherwise.

Japanese and Korean automakers' long-term focus reminds me of AC/DC's song 'It's a Long Way To The Top'. The result is that Honda, etc. don't need to have widespread lease 'subsidies'.

Edited by ZL-1
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Based on daily sales rate, Buick was down 44.5%. Saab was down 42.4%, GMC down 42.5 %, Hummer was down 65%. Why does GM see all 8 brands as so sacred when all of them are posting pathetic sales, and month after month post big losses.

Chevrolet and Cadillac were down over 30%, that should be a red flag that they need better products.

I really think Hummer should have remained the actual Hummer, not rebadged GMs. Stick with the H1 and let the GMC and Chevy brands sell the other platforms.....?

I'm surprised at how poor the Solstice is doing, I think a couple bad reviews and a couple troubles have bit them possibly. I think the domestics need the economy to pick up so buyer confidence comes back, until then it will be sparse pickins.

Who is thinking the Malibu was going to be a stronger seller besides me?

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I really think Hummer should have remained the actual Hummer, not rebadged GMs. Stick with the H1 and let the GMC and Chevy brands sell the other platforms.....?

I don't think so..the H1 was crap, not really suitable for public use (pretty lousy for military use also, from what I've heard from friends that were in Iraq).

I'm surprised at how poor the Solstice is doing, I think a couple bad reviews and a couple troubles have bit them possibly. I think the domestics need the economy to pick up so buyer confidence comes back, until then it will be sparse pickins.

I would think sales of sports cars in general would be way down with economy as weak as it is... the lack of a usable trunk is a an issue with the Solstice--a 2 seat sports car should have enough trunk space for a couple to get away for a weekend with it (the Boxster and Miata have pretty usable trunk space, for instance).

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I really think Hummer should have remained the actual Hummer, not rebadged GMs. Stick with the H1 and let the GMC and Chevy brands sell the other platforms.....?

I'm surprised at how poor the Solstice is doing, I think a couple bad reviews and a couple troubles have bit them possibly. I think the domestics need the economy to pick up so buyer confidence comes back, until then it will be sparse pickins.

Who is thinking the Malibu was going to be a stronger seller besides me?

hummer desperately needs h4...

malibu should have been stronger, im not sure if its not at full production, or certain options arent avalible yet, but it should still sell more, i think the camaro will bring more buyers for the malibu...

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Hard for the Malibu to post better sales when GM produces the Impala, Aura, G6, LaCrosse that are within a couple thousand dollars of the Malibu and compete with it. Plus the Accord and Camry have solid reputations and their customer base is loyal.

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