REVISED 12/3/01 @ 4:00pm -- GM Sales up 13% -- Increase Due to Strong Retail Performance
GM Announces Increase in Q4 2001 Production and Impact on Q4 Earnings Guidance, Projects Q1 2002 Production increase, Outlines Extension of 2002 Holiday Shutdown at Select Plants
GM November Retail Truck Sales up 42%
GM Retail Car Sales up 7%
GM SUVs on Industry Record Pace
Total Sales up Despite Steep Decline in Rental Fleet Sales
DETROIT - General Motors dealers sold 363,721 new cars and trucks in November in the United States, spurred on by GM's successful 'Keep America Rolling' program. Despite a steep decline in rental fleet sales, robust retail sales (up 26 percent) contributed to the 13 percent year-over-year increase.
"November was another very good month for GM with exceptionally strong retail performance in both trucks and cars." said Bill Lovejoy, group vice president of North America Vehicle Sales, Service and Marketing. "Throughout the 'Keep America Rolling' program, we've seen an improving mix of vehicles sold, we've had higher than normal conquest sales and our November retail sales accounted for 90 percent of our deliveries."
Lovejoy continued, "In addition, thanks to the strong merchandising efforts of our dealers on the retail front, our inventories are in excellent shape heading into 2002."
GM Truck Sales Highlights
GM increased its industry truck leadership with 223,165 sales in November (up 37 percent), putting GM on pace to have its best truck sales year in history. For November, GM's industry-leading truck lineup was led once again by midsize utilities, full-size utilities and full-size pickups, which all maintained their strong sales pace. Sport utility vehicle (SUV) sales for the month (93,486) were exceptional giving GM an all-time industry calendar year record. GM's full-size utilities (46,757 units - up 36 percent over last year) dominated the industry once again in November led by the Chevrolet Tahoe and Suburban, GMC Yukon, Yukon XL as well as the all-new Cadillac Escalade.
GM's all-new midsize SUVs, the Chevrolet TrailBlazer, GMC Envoy, Oldsmobile Bravada and Buick Rendezvous continued their sales momentum, contributing to GM leading the industry in midsize utility sales for the second consecutive month. GM also expanded the gap in its leadership in full-size pickups in November (86,929 units sold - up 41 percent over last year) and is on pace for its best full-size pickup sales year since 1978.
GM Car Sales Highlights
In November, GM retail deliveries were up seven percent. Solid sellers, Chevrolet Impala, Malibu and Cavalier, as well as the Pontiac Grand Am remained in the top-10 best selling cars CYTD.
Furthermore, GM is expecting to build momentum in the luxury and entry level markets with all-new vehicles, Cadillac CTS and Escalade EXT, Saturn Vue and Pontiac Vibe coming to market within the next few months.
November Sales Records
Chevrolet Impala
GM Trucks
Chevrolet Trucks
GM Pickups
GMC Pickups
GM Full-Size Pickups
GMC Sierra
GM Utilities
Chevrolet Tracker
GM Midsize Utilities
GM Full-Size Utilities
Chevrolet Suburban
Chevrolet Tahoe
GMC Yukon and Yukon XL
Cadillac Escalade
CYTD Records
Chevrolet Impala
Saturn L-Series
GM Trucks
Chevrolet Trucks
GM Pickups
GM Utilities
Chevrolet Utilities
GMC Utilities
Chevrolet Tracker
GM Midsize Utilities
GM Full-Size Utilities
Chevrolet Suburban
Chevrolet Tahoe
GMC Yukon and Yukon XL
Cadillac Escalade
GM reported another strong sales month of approximately 23,500 total used certified vehicles, including the Cadillac, Saturn and SAAB certified brands. The GM Certified Used Vehicle brand achieved record numbers for the sixth consecutive month with 19,722 sales.
GM Announces Increase in Q4 2001 Production & Favorable Impact on Q4 Earnings Guidance
Projects Q1 2002 Production Up 7 Percent over Q1 2001
Outlines Extension of 2002 Holiday Shutdown at Select Plants
Bolstered by robust retail demand and continued strong production by its manufacturing operations, GM announced that the fourth-quarter 2001 forecast has been increased by 15,000 units, to 1.285 million vehicles (570,000 cars and 715,000 trucks) from its most recent estimate of 1.270 million vehicles (563,000 cars and 707,000 trucks), although still down nearly 6 percent from last year’s final quarter. In November, GM produced 446,000 vehicles (195,000 cars and 251,000 trucks) in North America, down from 460,000 vehicles (230,000 cars and 230,000 trucks) produced in November 2000. (Production totals include joint venture production of 9,500 vehicles in November 2001 and 13,000 vehicles in November 2000.)
The additional 15,000 units of production is expected to have a favorable effect on the company’s prior earnings guidance of $0.50 per share for the fourth quarter.
Additionally, GM announced that the first-quarter 2002 production forecast is 1.3 million vehicles (581,000 cars and 719,000 trucks), a 7 percent increase from the 1.214 million vehicles (581,000 cars and 633,000 trucks) in the first quarter of 2001, when production was curtailed due to high inventories and moderating demand. Although U.S. demand is expected to moderate early in 2002 from the current strong pace supported by GM’s “Keep America Rolling” and competitor programs, GM’s dealer inventories are expected to be below one million by year-end, down about 300,000 from year-ago levels.
In order to manage production levels on a cost efficient basis, GM has decided to extend the regular Christmas/New Year’s shutdown by eight days at several assembly plants in North America.
The extended shutdown – running the weeks of Dec. 31 and Jan. 7 – will affect plants in Shreveport, La.; Lansing (Craft Center) and Orion Township, Mich.; Linden, N.J.; Baltimore, Md.; Doraville, Ga.; Wentzville, Mo.; Wilmington, Del.; Janesville (3), Wis., and Ste. Therese, Quebec. Additionally, Janesville (2) medium-duty will be down the week of December 31 and the Oshawa (2), Ontario, assembly plant will be shut down the weeks of Jan. 14 and 21.
GM also announced the following production estimates for its international regions:
GM Europe -- The fourth-quarter production estimate is 444,000 vehicles, an increase of 5,000 vehicles from the previous estimate. The first-quarter 2002 production estimate is 498,000 vehicles.
GM Asia Pacific -- The fourth-quarter production estimate is 72,000 vehicles, a decrease of 5,000 vehicles from the previous estimate. The first-quarter 2002 production estimate is 67,000 vehicles.
GM Latin America, Africa and the Middle East -- The fourth-quarter production estimate is 121,000 vehicles, a decrease of 1,000 vehicles from the previous estimate. The first-quarter 2002 production estimate is 118,000 vehicles.
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, 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 judgement on what the
future may hold, and we believe these judgements 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.
Curr S/D: 25
Prev S/D: 25
November
Calendar Year-to-Date
January - November
2001
2000
% Chg
per S/D
2001
2000
% Chg
Vehicle Total
363,721
320,992
13.3
4,541,846
4,615,191
-1.6
Car Total
140,556
157,778
-10.9
2,141,812
2,370,126
-9.6
Truck Total
223,165
163,214
36.7
2,400,034
2,245,065
6.9
Light Truck Total
219,863
161,255
36.3
2,362,101
2,209,713
6.9
Light Vehicle Total
360,419
319,033
13.0
4,503,913
4,579,839
-1.7
Market Division Vehicle Total
Buick
31,512
23,436
34.5
378,092
379,307
-0.3
Cadillac
14,642
11,815
23.9
159,770
173,873
-8.1
Chevrolet
205,231
177,433
15.7
2,476,630
2,432,936
1.8
GMC
47,997
36,147
32.8
505,711
490,922
3.0
Hummer
59
63
-6.3
697
836
-16.6
Oldsmobile
13,128
15,752
-16.7
221,131
265,878
-16.8
Other - Isuzu
1,065
0
***.*
14,023
0
***.*
Pontiac
30,415
34,968
-13.0
503,723
582,208
-13.5
Saab
2,602
3,131
-16.9
34,836
35,726
-2.5
Saturn
17,070
18,247
-6.5
247,233
253,505
-2.5
Sales of Domestically Produced Vehicles
Car
137,693
153,891
-10.5
2,097,313
2,319,236
-9.6
Light Truck
219,863
161,255
36.3
2,362,101
2,209,713
6.9
Twenty-five selling days for the November period this year
and twenty-five for last year.
* American Isuzu Motors, Inc., dealer
sales of commercial vehicles distributed by General Motors Corporation as
reported to General Motors by American Isuzu Motors, Inc.
Please Note: The Light sub-totals
will be different than reported the prior year due to the implementation
of 2001 Segmentation, which moved some Light Trucks to Mediim.
IMPORTANT: NOVEMBER 2001 PRESS
RELEASE HAS BEEN REVISED. DUE TO AN INFORMATION SYSTEM PROBLEM THE OTHER-ISUZU
CYTD FIGURES WERE CORRECTED. THIS REVISION IMPACTS TRUCK AND VEHICLE TOTALS.
THE NUMBERS IN THE SHADED CELLS ARE THE FIGURES THAT HAVE CHANGED. WE APOLOGIZE
FOR THE INCONVENIENCE.
GM Car Deliveries - (United States)
November 2001
November
Calendar Year-to-Date
January - November
2001
2000
%Chg
per S/D
2001
2000
%Chg
Selling Days (S/D)
25
25
Century
9,352
6,363
47.0
132,513
135,699
-2.3
LeSabre
11,052
9,878
11.9
137,906
137,264
0.5
Park Avenue
2,923
3,664
-20.2
33,458
44,168
-24.2
Regal
2,716
3,517
-22.8
47,306
62,120
-23.8
Riviera
11
14
-21.4
17
56
-69.6
Buick Total
26,054
23,436
11.2
351,200
379,307
-7.4
Catera
261
756
-65.5
9,663
15,164
-36.3
DeVille
7,522
6,113
23.0
88,752
98,853
-10.2
Eldorado
695
1,474
-52.8
9,515
11,649
-18.3
Seville
2,182
2,288
-4.6
23,432
26,588
-11.9
Cadillac Total
10,660
10,631
0.3
131,362
152,254
-13.7
Camaro
2,400
2,748
-12.7
32,929
39,361
-16.3
Cavalier
14,128
18,298
-22.8
218,950
222,510
-1.6
Corvette
2,910
2,376
22.5
32,007
28,874
10.9
Impala
15,051
12,556
19.9
193,311
161,676
19.6
Lumina
29
5,575
-99.5
17,647
42,236
-58.2
Malibu
8,365
9,439
-11.4
167,537
195,407
-14.3
Metro
35
2,716
-98.7
6,513
31,832
-79.5
Monte Carlo
4,778
4,289
11.4
68,617
62,465
9.8
Prizm
1,904
3,199
-40.5
43,559
47,948
-9.2
Chevrolet Total
49,600
61,196
-18.9
781,070
832,309
-6.2
Alero
5,154
5,520
-6.6
102,823
114,523
-10.2
Aurora
1,467
1,987
-26.2
23,920
24,516
-2.4
Cutlass
34
52
-34.6
53
1,237
-95.7
Eighty Eight
12
29
-58.6
16
477
-96.6
Intrigue
2,017
3,674
-45.1
37,972
59,822
-36.5
Oldsmobile Total
8,684
11,262
-22.9
164,784
200,575
-17.8
Bonneville
3,087
2,813
9.7
46,087
62,383
-26.1
Firebird
1,772
1,975
-10.3
23,939
29,209
-18.0
Grand Am
8,464
11,028
-23.2
172,746
205,698
-16.0
Grand Prix
9,078
8,015
13.3
120,371
141,103
-14.7
Sunfire
3,485
6,044
-42.3
68,184
78,057
-12.6
Pontiac Total
25,886
29,875
-13.4
431,327
516,450
-16.5
900
0
0
***.*
0
58
***.*
9000
0
0
***.*
0
18
***.*
9-3
895
1,241
-27.9
17,455
17,620
-0.9
9-5
1,707
1,890
-9.7
17,381
18,030
-3.6
Saab Total
2,602
3,131
-16.9
34,836
35,726
-2.5
Saturn EV1
0
0
***.*
0
411
***.*
Saturn L Series
6,217
6,576
-5.5
92,849
87,191
6.5
Saturn S Series
10,853
11,671
-7.0
154,384
165,903
-6.9
Saturn Total
17,070
18,247
-6.5
247,233
253,505
-2.5
GM Total
140,556
157,778
-10.9
2,141,812
2,370,126
-9.6
GM Car Deliveries by Production Source
GM North America *
137,693
153,891
-10.5
2,097,313
2,319,236
-9.6
GM Import
2,863
3,887
-26.3
44,499
50,890
-12.6
GM Total
140,556
157,778
-10.9
2,141,812
2,370,126
-9.6
* Includes U.S./Canada/Mexico
GM Car Deliveries by Production Source and Marketing
Division
Buick Total
26,054
23,436
11.2
351,200
379,307
-7.4
Cadillac Total
10,399
9,875
5.3
121,699
137,090
-11.2
Chevrolet Total
49,600
61,196
-18.9
781,070
832,309
-6.2
Oldsmobile Total
8,684
11,262
-22.9
164,784
200,575
-17.8
Pontiac Total
25,886
29,875
-13.4
431,327
516,450
-16.5
Saturn Total
17,070
18,247
-6.5
247,233
253,505
-2.5
GM North America Total*
137,693
153,891
-10.5
2,097,313
2,319,236
-9.6
***.*
***.*
Cadillac Total
261
756
-65.5
9,663
15,164
-36.3
Saab Total
2,602
3,131
-16.9
34,836
35,726
-2.5
GM Import Total
2,863
3,887
-26.3
44,499
50,890
-12.6
GM Vehicle Deliveries by Marketing Division
Buick Total
31,512
23,436
34.5
378,092
379,307
-0.3
Cadillac Total
14,642
11,815
23.9
159,770
173,873
-8.1
Chevrolet Total
205,231
177,433
15.7
2,476,630
2,432,936
1.8
GMC Total
47,997
36,147
32.8
505,711
490,922
3.0
Hummer Total
59
63
-6.3
697
836
-16.6
Oldsmobile Total
13,128
15,752
-16.7
221,131
265,878
-16.8
Other-Isuzu Total
1,065
0
***.*
14,023
0
***.*
Pontiac Total
30,415
34,968
-13.0
503,723
582,208
-13.5
Saab Total
2,602
3,131
-16.9
34,836
35,726
-2.5
Saturn Total
17,070
18,247
-6.5
247,233
253,505
-2.5
GM Total
363,721
320,992
13.3
4,545,333
4,615,191
-1.5
* Includes US/Canada/Mexico
GM Truck Deliveries - (United States)
November 2001
November
Calendar Year-to-Date
January - November
2001
2000
% Chg
per S/D
2001
2000
% Chg
Selling Days (S/D)
25
25
Rendezvous
5,458
0
***.*
26,892
0
***.*
Total Buick
5,458
0
***.*
26,892
0
***.*
Escalade
3,909
1,184
230.2
28,335
21,619
31.1
Escalade EXT
73
0
***.*
73
0
***.*
Total Cadillac
3,982
1,184
236.3
28,408
21,619
31.4
Astro
3,767
4,981
-24.4
55,190
88,011
-37.3
C/K Suburban(Chevy)
13,211
10,380
27.3
140,557
121,293
15.9
Chevy C/T Series
579
455
27.3
6,009
7,604
-21.0
Chevy P Models & Mtr Hms
153
179
-14.5
226
746
-69.7
Chevy W Series
188
176
6.8
1,838
2,177
-15.6
Express Cutaway/G Cut
1,508
1,432
5.3
15,371
19,338
-20.5
Express Panel/G Van
5,878
5,084
15.6
61,694
72,787
-15.2
Express/G Sportvan
790
732
7.9
13,636
13,586
0.4
S/T Blazer
7,714
12,660
-39.1
141,522
214,495
-34.0
S/T Pickup
9,928
10,762
-7.7
150,139
201,745
-25.6
Tahoe
16,467
13,760
19.7
184,447
134,715
36.9
Tracker
3,337
3,132
6.5
48,745
44,466
9.6
TrailBlazer
18,108
0
***.*
98,326
0
***.*
Venture
6,043
4,681
29.1
82,688
91,905
-10.0
Avalanche
8,661
0
***.*
44,649
0
***.*
Silverado-C/K Pickup
59,299
47,823
24.0
650,523
587,759
10.7
Chevrolet Fullsize Pickups
67,960
47,823
42.1
695,172
587,759
18.3
Chevrolet Total
155,631
116,237
33.9
1,695,560
1,600,627
5.9
C/K Suburban(GMC)
57
23
147.8
94
4,761
-98.0
Envoy
7,908
0
***.*
43,760
0
***.*
GMC C/T Series
945
838
12.8
11,857
20,310
-41.6
GMC W Series
352
295
19.3
3,944
4,067
-3.0
P Models & Mtr Hms(GMC)
20
16
25.0
36
448
-92.0
S/T Jimmy
603
5,023
-88.0
30,487
75,032
-59.4
Safari (GMC)
1,163
2,098
-44.6
17,481
30,294
-42.3
Savana Panel/G Classic
1,646
1,563
5.3
22,468
27,714
-18.9
Savana Special/G Cut
400
503
-20.5
9,602
8,743
9.8
Savana/Rally
178
300
-40.7
2,325
3,544
-34.4
Sierra
18,896
13,882
36.1
191,225
173,847
10.0
Sonoma
2,775
2,629
5.6
38,585
48,645
-20.7
Yukon
6,379
5,008
27.4
70,194
50,922
37.8
Yukon XL
6,675
3,969
68.2
63,653
42,595
49.4
GMC Total
47,997
36,147
32.8
505,711
490,922
3.0
Hummer H1
59
63
-6.3
697
836
-16.6
Hummer Total
59
63
-6.3
697
836
-16.6
Bravada
2,256
1,771
27.4
22,146
27,844
-20.5
Silhouette
2,188
2,719
-19.5
34,201
37,459
-8.7
Oldsmobile Total
4,444
4,490
-1.0
56,347
65,303
-13.7
Other-Isuzu F Series
153
0
***.*
2,072
0
***.*
Other-Isuzu N Series
912
0
***.*
11,951
0
***.*
Other-Isuzu Total
1,065
0
***.*
14,023
0
***.*
Aztek
1,345
2,277
-40.9
26,093
8,958
191.3
Montana
3,184
2,785
14.3
46,303
56,729
-18.4
Trans Sport
0
31
***.*
0
71
***.*
Pontiac Total
4,529
5,093
-11.1
72,396
65,758
10.1
GM Total
223,165
163,214
36.7
2,400,034
2,245,065
6.9
GM TRUCK Deliveries by Production Source
GM North America *
222,030
162,906
36.3
2,386,026
2,240,858
6.5
GM Import
1,135
308
268.5
14,008
4,207
233.0
GM Total
223,165
163,214
36.7
2,400,034
2,245,065
6.9
GM Light Duty Truck Deliveries by Production Source
GM North America *
219,863
161,255
36.3
2,362,101
2,209,713
6.9
GM Import
0
0
***.*
0
0
***.*
GM Total
219,863
161,255
36.3
2,362,101
2,209,713
6.9
* Includes U.S./Canada/Mexico
GM TRUCK Deliveries by Production Source and Marketing
Division
Buick Total
5,458
0
***.*
26,892
0
***.*
Cadillac Total
3,982
1,184
236.3
28,408
21,619
31.4
Chevrolet Total
155,502
116,096
33.9
1,694,276
1,599,040
6.0
GMC Total
47,801
35,980
32.9
503,386
488,302
3.1
Hummer Total
59
63
-6.3
697
836
-16.6
Oldsmobile Total
4,444
4,490
-1.0
56,347
65,303
-13.7
Other-Isuzu Total
255
0
***.*
3,624
0
***.*
Pontiac Total
4,529
5,093
-11.1
72,396
65,758
10.1
GM North America Total*
222,030
162,906
36.3
2,386,026
2,240,858
6.5
Chevrolet Total
129
141
-8.5
1,284
1,587
-19.1
GMC Total
196
167
17.4
2,325
2,620
-11.3
Other-Isuzu Total
810
0
***.*
10,399
0
***.*
GM Import Total
1,135
308
268.5
14,008
4,207
233.0
GM Light Truck Deliveries by Production Source and
Marketing Division
