[mgescuro]

http://www.usatoday.com/money/autos/2008-10-29-gm-toyota-sales_N.htm?csp=34

GM global sales drop 11% in Q3, trail Toyota

General Motors (GM) says third-quarter worldwide sales fell 11% on weak U.S. demand, falling short of Toyota's total for the period.

GM said Wednesday that it sold 2.11 million vehicles in the third quarter, while Toyota's sales fell 4% to 2.24 million. Toyota (TM) also blamed a drop in U.S. demand for its decline.

For the first nine months of the year, GM sales fell 5.8% to 6.66 million vehicles.

GM executives said on a conference call that depressed consumer confidence was a bigger negative factor for U.S. sales than tight credit.

The automaker's third-quarter sales outside the United States accounted for about 61% of sales, compared with just over 56% a year earlier.

More at Link

 

[doh]

http://www.gminsidenews.com/forums/f38/gm-3q-global-sales-drop-11-pct-trail-toyota-70797/

 

[stevecmh]

sad to see.. but it could always be worse

 

[D C]

But they also set records in Latin America & Asia/Pacific

Europe & North America are really the only hard-hit regions.

 

[sigma]

GM sells about 1/3 (or about 3.5 million cars) that they make here in the US. Globally sales decreased by 11%. If that doesn't tell you how bad things are in the US, nothing will. That seems to indicate at least a 25% decrease in US autosales for the Q3.

Anyone who tells you things aren't bad needs. to. wake. up.

 

[squat]

Things are getting bad all over the world, and they'll continue to get worse. Personally I hope this hits china and india hard so that our economy (and dollar) has some time to recover before they get going again.

 

[fp115]

I'm confused... we are still in october.

 

[ne_one]

I may be alone on this one, but I feel that falling to #2 would be a godsend. Entitlement is something that should be fought for rather than assumed.

In fact, while the situation as a whole seems pretty dire it's a welcome opportunity to clean house and rebuild on many levels.

 

[Corvette C10]

But they also set records in Latin America & Asia/Pacific

Europe & North America are really the only hard-hit regions.

Very True.

 

[doh]

I'm confused... we are still in october.

yes and in the 4th quater.

 

[zete]

All I can say is: "Immaterial. GM needs to focus on profit, not on staying #1 at all costs."

 

[sigma]

All I can say is: "Immaterial. GM needs to focus on profit, not on staying #1 at all costs."

They need to focus on generating cash before profit because right now that cash burn has to be at about $1.5 billion a month at least (assuming that this data really does reflect an implosion in North America). Cutting that cash burn in half gets GM through 2009 and keeps them alive long enough for the government lifeline to get here.

 

[gardnet1]

Delaying all these redesigns and launches worry me. Yes they are expensive, but public perception and consumer demand, tepid as it may be, are driven by product.

GM also cut back on marketing expenses which will probably also result in lower sales.

GM executives need to start hitting the freeby marketing such as FoxNews, Leno, and those god awful talk shows such as okra. Maybe they could give away a Vue on "the view" as a publicity stunt do lure in dizzy, uneducated welfare moms into the showrooms. Take that kia!

 

[Dynamo]

I'm confused... we are still in october.

October,November,December = 4th Qtr

 

[GM-Joe]

I was surprised after a decent September, but I guess this is global and other things happen else where.

 

[fp115]

October,November,December = 4th Qtr

Oops, for some reason I had in mind 4th quarter started in November. I must need more sleep, thanks.