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GM Sales Drop 18.5% For The Month Of June
GM today announced June sales results, highlighted by an 8 percent rise in retail car sales and continued strong performance in crossovers. Despite the significant decline of industry market volume and the limited availability of some of GM’s most popular models, GM dealers in the United States delivered 265,937 vehicles in June, down 8 percent (18.5 percent unadjusted). Truck sales declined 6 percent.
“We’re doing all we can to meet customer demand for our popular crossovers and cars, including increasing overtime or adding Saturday shifts at the plants where we build the Malibu, Aura, G6, Enclave, Outlook, Acadia and our full-size vans,” said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. “Hybrid demand and availability continues to build, and we’re seeing really positive momentum with the Chevrolet Tahoe and GMC Yukon 2-mode hybrids. While the truck market continues to be impacted by the sudden rise in fuel prices, our offerings from Chevrolet, GMC and Cadillac continue to lead their respective segments in fuel economy and that is a decided advantage for those shopping for those vehicles. We expect our market share performance to be very strong compared with April and May.”
Chevrolet Malibu total sales were up 95 percent with retail sales up 129 percent, Cobalt sales were up 37 percent total and 27 percent retail, HHR was up 39 percent total and 70 percent retail, Equinox was up 64 percent total and 42 percent retail, while Suburban and Tahoe were both up in total sales – 13 and 1 percent respectively.
Pontiac retail sales were up 14 percent led by G6 up 27 percent, Vibe up 24 percent, G5 and Solstice were up 6 percent compared with June 2007.
The Saturn division had strong sales in June with Sky total sales up 62 percent, Aura up 41 percent and Vue up 40 percent. The Astra had sales of nearly 900 vehicles.
Cadillac had a strong performance with CTS total sales increasing 31 percent and a retail increase of 10 percent compared with the same month a year ago. SRX and STS both had 26 percent total sales increases.
GM’s popular crossover Buick Enclave, GMC Acadia and Saturn Outlook together accounted for more than 8,800 vehicle sales in the month as demand for the vehicles continues to strain available supply.
GM hybrid vehicles continue to gain in popularity in the marketplace with 547 hybrid Chevrolet Tahoe and GMC Yukon 2-mode SUVs delivered. There were 295 Chevrolet Malibu, 30 Saturn Aura and 277 Vue hybrids sold in June. For the month, a total of 1,149 hybrid vehicles were delivered, with 4,376 hybrids sold so far this year.
“Make no mistake about this … Asian automakers do not have a monopoly on fuel efficient vehicles. We have a full lineup of vehicles – including five hybrid models -- that provide industry-leading value, great fuel economy and the best warranty coverage of any full-line automaker,” LaNeve added. “Every month, more and more customers are choosing our brands when shopping for a high value, fuel efficient vehicle.”
GM has aggressively managed inventories to low levels. In June, only about 788,000 vehicles were in stock, down about 267,000 vehicles compared with last June. The 72 Hour Sale at the end of June was targeted at the 2008 vehicles left in inventory. Combined full-size pickup and utility inventory is down about 124,000 vehicles compared with June a year ago. The sale helped rebalance inventory to a stronger car mix. There were about 238,000 cars and 550,000 trucks in inventory at the end of June. GM also revised its 2008 industry annual sales forecast to approximately 15.0 million total vehicle SAAR, down from the mid-15 million total vehicle SAAR range estimated earlier this year. The continuing impact of higher fuel prices and lack of robust economic growth led to the revision.
Certified Used Vehicles
June 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 41,857 vehicles, down nearly 9 percent from June 2007. Year-to-date sales are 256,543 vehicles, down 6 percent from the same period last year.
GM Certified Used Vehicles, the industry’s top-selling certified brand, posted June sales of 36,445 vehicles, down 10 percent from a strong June 2007 sales performance. Cadillac Certified Pre-Owned Vehicles sold 3,270 vehicles, up 5 percent. Saturn Certified Pre-Owned Vehicles sold 1,168 vehicles, down 21 percent. Saab Certified Pre-Owned Vehicles sold 841 vehicles, up 10 percent, and HUMMER Certified Pre-Owned Vehicles sold 133 vehicles, up 37 percent.
“The Cadillac, Saab and HUMMER Certified Pre-Owned Vehicle programs posted solid sales increases in June, while GM Certified Used Vehicles continued its sales leadership in the category,” said LaNeve. “We expect growing consumer consideration in coming months for the value and peace-of-mind assurances that come standard on all certified GM vehicles.”
GM North America Reports June and Second-Quarter 2008 Production; Third-Quarter Production Forecast Revised to 900,000 Vehicles
In June, GM North America produced 342,000 vehicles (136,000 cars and 206,000 trucks). This is down 62,000 vehicles or 15 percent compared with June 2007 when the region produced 404,000 vehicles (142,000 cars and 262,000 trucks). (Production totals include joint venture production of 16,000 vehicles in June 2008 and 21,000 vehicles in June 2007.) For the second quarter, GM produced 835,000 vehicles (381,000 cars and 454,000 trucks). This is down 307,000 vehicles or 27 percent compared with the second quarter 2007 when the region produced 1,142,000 vehicles (402,000 cars and 740,000 trucks).
The GM North America third-quarter production forecast of 900,000 vehicles (456,000 cars and 444,000 trucks) is down about 12 percent compared with a year ago, due to recent production adjustments 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.