GM Global Sales Grow - GM Press Release

[adplusone]

FOR RELEASE: 2006-07-28
Global Brand Sales Grow as U.S. Market Stabilizes

• Saab Sets Record for First Half of Year
• Chevrolet Global Sales Continue to Grow

DETROIT – General Motors reported second quarter global sales (April - June) of 2,400,000 vehicles – an 8.7 percent increase over first quarter 2006 – powered by sales of Chevrolet and Saab. GM’s year-to-date sales of 4,600,000 vehicles are down 2.3 percent compared to the same period a year ago. This decline is largely attributable to last year’s highly successful employee discount incentive program in North America and lower fleet sales in Europe.

“We are encouraged by the stabilization of our sales in the United States and the continued strength of our four global brands (Cadillac, Chevrolet, Saab and Hummer) outside of our home market,” said John Middlebrook, vice president of global sales, service and marketing. “Our global market share grew each month of the quarter, concluding at 14.5 percent share performance in June.”

Chevrolet, GM’s foundational brand recorded year-to-date sales increases in Asia Pacific (40 percent), Latin America (15 percent), Middle East (12 percent) and Europe (12 percent). Most encouraging is Chevrolet’s growth in emerging markets such as Brazil up 13 percent (20,000 units), China up 81 percent (30,000 units), India up 47 percent (6,000 units) and Russia up 47 percent (14,000 units). Second quarter Chevrolet global sales are up more than 128,000 units, a 13 percent increase over first quarter results. Further growth for the brand is expected with the third quarter introduction of the Chevrolet Silverado full-size pickup truck in the United States, and the expanded availability of the Captiva sport utility in Europe and Asia.
HUMMER sales remain strong with year-to-date sales up 104 percent compared to the same period a year ago. The Middle East, up 531 percent (1,300 units) and the United States, up 89 percent (15,000 units) are the leading markets for the brand. HUMMER sales should continue to strengthen with the production of a right-hand drive version of the H3 for markets outside of North America, at GM’s South Africa assembly plant later this year.

Saab global sales increased 11 percent compared to year-ago levels, helping the brand set a new record for the first half of the year. The largest growth was in Europe where sales increased 24 percent compared to 2005. In Sweden, the Saab 9-5 was once again the number one ‘green vehicle’ sold. The brand also experienced solid sales performance in Australia, up 51 percent compared to last year, making the island continent the brand’s third-fastest-growing market.

Cadillac sales outside of the United States grew 13 percent compared to year ago levels. In China, where the brand was introduced only two years ago, calendar year-to-date sales are up 93 percent. In Europe, the launch of the Cadillac BLS helped sales grow 30 percent. Sales in the United States are expected to further stabilize in future months with increased availability of the Cadillac Escalade, Escalade EXT, Escalade ESV, and SRX with an all-new interior.

[andy82471]

Does anyone know what the figures are for Toyota ? It seems GM and Toyota are just about even in terms of sales.

[nadepalma]

Great news overall. I'm surprised that sales of Caddy in Europe are up 30% --- probably due to the BLS --- since the Euro press seems to have ripped it apart. But I guess numbers are numbers.

[Greg Burr]

Originally Posted by nadepalma

Great news overall. I'm surprised that sales of Caddy in Europe are up 30% --- probably due to the BLS --- since the Euro press seems to have ripped it apart. But I guess numbers are numbers.

Good point. It's also interesting to note that Saab seems tio be dying on the vine here in the US, but has record sales globally. Maybe it's Scandanavia and the bio-fuel option.

[give_it_all_]

Hmmm, if you take the amount of money GM made (operating costs) of $1.2 billion, divide by the 2.4 million cars sold, they made $500 per car...

[GReekBoy]

Originally Posted by give_it_all_

Hmmm, if you take the amount of money GM made (operating costs) of $1.2 billion, divide by the 2.4 million cars sold, they made $500 per car...

didnt they make 1.2 bil in the NA market not global? not sure just wanna know

[nadepalma]

Originally Posted by Greg Burr

Good point. It's also interesting to note that Saab seems tio be dying on the vine here in the US, but has record sales globally. Maybe it's Scandanavia and the bio-fuel option.

Ah, I never would have considered that last part, but that's certainly a thought.

I want to see Saab succeed, so I can't wait to see some of these new products that have been hinted at like the 9-4X, the 9-1, and next 9-5. These are all essential if the brand is to survive.

[tgagneguam]

General Motors reported second quarter global sales (April - June) of 2,400,000 vehicles – an 8.7 percent increase over first quarter 2006 – powered by sales of Chevrolet and Saab. GM’s year-to-date sales of 4,600,000 vehicles are down 2.3 percent compared to the same period a year ago.

Interesting that they wrote it this way. They did not do a Q2 2005 comparison to Q2 2006, as is traditionally done in business (most reports compare year ago sales rather than a comparison to last month's/last quarter's sales). Figured that way, and in light of Q1 2006's rise of 4.4% over Q1 2005, that would mean that the Q2 comparison yields sales down almost 8% from 2005's performance. Granted, there were some tough comparisons to last year's heavily incentivized summer sales in NA.

[tgagneguam]

Originally Posted by GReekBoy

didnt they make 1.2 bil in the NA market not global? not sure just wanna know

$1.2 billion was the operating profit for all of GM's operations (prior to one-time charges). The lion's share of that $1.2 billion (some $900+ million) came from GMAC, in which GM recently sold a roughly 50% stake, incidentally.

North American losses narrowed significantly, though they still registered a nearly $100 million loss, if my memory serves me correctly.

[01cavalier]

Great to see GM still making great progress in sales outside of the US. I'm sure that contributed a lot to profit.

[johnny smallblock]

Originally Posted by tgagneguam

$1.2 billion was the operating profit for all of GM's operations (prior to one-time charges). The lion's share of that $1.2 billion (some $900+ million) came from GMAC, in which GM recently sold a roughly 50% stake, incidentally.
North American losses narrowed significantly, though they still registered a nearly $100 million loss, if my memory serves me correctly.

That sale isn't complete yet, right?

[megeebee]

Originally Posted by nadepalma

Great news overall. I'm surprised that sales of Caddy in Europe are up 30% --- probably due to the BLS --- since the Euro press seems to have ripped it apart. But I guess numbers are numbers.

Well, remenber that sales of Cadillac in Europe are microscopic. The BLS is, so far anyway, a flop. They've moved maybe a 1,000 since launching it in May. But that number is high compared to the 2500-3000 a year Cadillac as a whole manages to sell in all of Europe. So, it sounds good. But it isn't, especially when you compare it to the approximately 10,000 total yearly sales that Cadillac was predicting last year.

[steverino]

Originally Posted by tgagneguam

$1.2 billion was the operating profit for all of GM's operations (prior to one-time charges). The lion's share of that $1.2 billion (some $900+ million) came from GMAC, in which GM recently sold a roughly 50% stake, incidentally.

North American losses narrowed significantly, though they still registered a nearly $100 million loss, if my memory serves me correctly.

So, roughly $300 million worldwide came from vehicle sales

Yes, NA lost $85 million, rest assured your memory is in good shape.

[racy]

Originally Posted by tgagneguam

$1.2 billion was the operating profit for all of GM's operations (prior to one-time charges). The lion's share of that $1.2 billion (some $900+ million) came from GMAC, in which GM recently sold a roughly 50% stake, incidentally.

North American losses narrowed significantly, though they still registered a nearly $100 million loss, if my memory serves me correctly.

I don't think the sale of GMAC is considered part of operating profits. Revenue derived from GMAC operations might be considered in the profits, but I don't think the actual sale of GMAC is in that figure.

[lio45]

Originally Posted by racy

I don't think the sale of GMAC is considered part of operating profits. Revenue derived from GMAC operations might be considered in the profits, but I don't think the actual sale of GMAC is in that figure.

That's what he said. The lion's share of that $1.2 billion came from GMAC operations.