January Sales for GM Released Down 49%
#1
January Sales for GM Released Down 49%
http://media.gm.com/servlet/GatewayS...=6&docid=51817
DETROIT - Driven by an 80 percent reduction in fleet sales, General Motors dealers in the United States delivered 129,227 vehicles in January, down 49 percent compared with a year ago. Retail sales were off 38 percent, but retail market share held steady compared with December. GM's retail share performance was assisted by reduced-rate APR financing capacity through GMAC and a GM loyalty cash offer. GM January total car sales of 43,943 were off 58 percent and total truck sales (including crossovers) of 85,284 were down 42 percent compared with a year ago. Additionally, retail sales for GM cars and crossovers combined were about 65 percent of sales mix in the month.
"We're attacking this unprecedented market as aggressively as possible, while offering more vehicles than ever that provide great value and that Americans enjoy owning," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "Our retail market share is a bright spot, holding steady above 21 percent for the second month in a row. That's a full point above the trailing 12-month average. It's important to realize that we accomplished this retail performance as the overall market ran about 6 million vehicles behind where it was last January (on a seasonally-adjusted annual rate) and every manufacturer was deeply impacted."
The newly-launched Chevrolet Traverse crossover continues to gain traction in the market place with total sales of more than 5,200 vehicles. Chevrolet's crossovers, HHR, Equinox and Traverse had 11,666 retail sales, a 10 percent increase compared with last year. The strength of Traverse's launch helped push retail sales of all GM crossovers to 20 percent of all retail vehicles sold by the automaker in January, up about 3 percentage points from a year ago.
"It is important for America to realize that in cars and crossovers, Chevy is fully competitive with Toyota and Honda and continues to gain strength. The Malibu is performing well and the Traverse is building momentum," LaNeve added. "We're doing our part to get vehicle sales moving again. For example, GMAC is providing more reduced-rate APR financing capacity with the Presidents Day Sale, and we're offering bonus cash on select models. Additionally, our national roll-out of the credit union 'Invest in America' program offers supplier pricing and available credit union financing for millions of members."
A total of 923 GM hybrid vehicles were delivered in the month, illustrating the wide range of hybrid product offerings available. GM offers the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade 2-mode hybrid SUVs, the Chevrolet Malibu and Saturn Aura mid-size sedan, and Saturn Vue compact crossover hybrids.
GM has announced reductions in first quarter production to adjust inventories for marketplace demand. This strategic move helped reduce inventories and related costs for GM and its dealers during this historic downturn, but the lack of production also meant that fleet vehicles, which typically are built to order, have been delayed. GM's fleet sales of just over 13,000 vehicles in January were at their lowest levels since 1975.
GM inventories dropped compared with a year ago. At the end of January, only about 801,000 vehicles were in stock, down about 103,000 vehicles (or 11 percent) compared with last year. There were about 363,000 cars and 438,000 trucks (including crossovers) in inventory at the end of January. Inventories were reduced about 70,000 vehicles compared with December. Importantly, of the pickup trucks in stock, 96 percent of the GMC Sierras and 97 percent of the Chevrolet Silverados are all-new 2009 models.
"We're attacking this unprecedented market as aggressively as possible, while offering more vehicles than ever that provide great value and that Americans enjoy owning," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "Our retail market share is a bright spot, holding steady above 21 percent for the second month in a row. That's a full point above the trailing 12-month average. It's important to realize that we accomplished this retail performance as the overall market ran about 6 million vehicles behind where it was last January (on a seasonally-adjusted annual rate) and every manufacturer was deeply impacted."
The newly-launched Chevrolet Traverse crossover continues to gain traction in the market place with total sales of more than 5,200 vehicles. Chevrolet's crossovers, HHR, Equinox and Traverse had 11,666 retail sales, a 10 percent increase compared with last year. The strength of Traverse's launch helped push retail sales of all GM crossovers to 20 percent of all retail vehicles sold by the automaker in January, up about 3 percentage points from a year ago.
"It is important for America to realize that in cars and crossovers, Chevy is fully competitive with Toyota and Honda and continues to gain strength. The Malibu is performing well and the Traverse is building momentum," LaNeve added. "We're doing our part to get vehicle sales moving again. For example, GMAC is providing more reduced-rate APR financing capacity with the Presidents Day Sale, and we're offering bonus cash on select models. Additionally, our national roll-out of the credit union 'Invest in America' program offers supplier pricing and available credit union financing for millions of members."
A total of 923 GM hybrid vehicles were delivered in the month, illustrating the wide range of hybrid product offerings available. GM offers the Chevrolet Tahoe, GMC Yukon and Cadillac Escalade 2-mode hybrid SUVs, the Chevrolet Malibu and Saturn Aura mid-size sedan, and Saturn Vue compact crossover hybrids.
GM has announced reductions in first quarter production to adjust inventories for marketplace demand. This strategic move helped reduce inventories and related costs for GM and its dealers during this historic downturn, but the lack of production also meant that fleet vehicles, which typically are built to order, have been delayed. GM's fleet sales of just over 13,000 vehicles in January were at their lowest levels since 1975.
GM inventories dropped compared with a year ago. At the end of January, only about 801,000 vehicles were in stock, down about 103,000 vehicles (or 11 percent) compared with last year. There were about 363,000 cars and 438,000 trucks (including crossovers) in inventory at the end of January. Inventories were reduced about 70,000 vehicles compared with December. Importantly, of the pickup trucks in stock, 96 percent of the GMC Sierras and 97 percent of the Chevrolet Silverados are all-new 2009 models.
#3
2009 2008 % Chg %Chg per
Aveo 1,595 5,314 -70.0 -71.1
Cobalt 5,191 17,310 -70.0 -71.2
Corvette 842 2,015 -58.2 -59.8
Impala 7,060 17,544 -59.8 -61.3
Malibu 9,312 14,541 -36.0 -38.4
These numbers are downright SCARY!
Aveo 1,595 5,314 -70.0 -71.1
Cobalt 5,191 17,310 -70.0 -71.2
Corvette 842 2,015 -58.2 -59.8
Impala 7,060 17,544 -59.8 -61.3
Malibu 9,312 14,541 -36.0 -38.4
These numbers are downright SCARY!
#4
I don't really care about year to year in this market. This year is a DRASTICALLY different environment than last year's. I would like to see the month to month numbers to see what models are catching on, which ones are stagnant, and what ones are falling like a rock. That to me is more important right now.
Does anyone have those numbers handy?
Does anyone have those numbers handy?
#5
bu..but....but.....The Malibu is supposed to be one of GM's saving graces. I thought it was doing well? I mean, it's not as bad as the other models, but wow...
#6
I can't remember the last time I saw a commercial that showcased JUST the Cobalt, or JUST the Malibu. A general commercial that shows each model for a few seconds announcing whatever incentives GM has is NOT enough.
#7
Current sales has nothing to do with consumers like or dislike of product. Award winning product or not. No one is buying. It's a significantly different consumer environment than it was one year ago. At this point, as alluded to in an earlier post, month to consecutive month would be a better indicator.
#8
2009 2008 CHG 2009 2008 CHG
COROLLA 19,238 20,736 -10.8 19,238 20,736 -10.8
CAMRY 20,782 31,601 -36.8 20,782 31,601 -36.8
Makes GM's numbers look REALLY bad, especially for the cobalt. Apparently, consumers still like the Camry and Corolla and are still buying them.
http://news.prnewswire.com/ViewConte...4965631&EDATE=
COROLLA 19,238 20,736 -10.8 19,238 20,736 -10.8
CAMRY 20,782 31,601 -36.8 20,782 31,601 -36.8
Makes GM's numbers look REALLY bad, especially for the cobalt. Apparently, consumers still like the Camry and Corolla and are still buying them.
http://news.prnewswire.com/ViewConte...4965631&EDATE=
#9
Malibu 9,312 14,541 -36.0 -38.4
And of course Corolla is going to slay Cobalt, it's newer, better and BETTER KNOWN.
#10
Only moving 9,000 units of a car that is supposed to help save GM only one year after it was introduced compared to the 3 year old camry... yeah, I consider that bad.
The cobalt had a 12,000 unit drop? Good LORD!
I guess we need to see a fleet break down as well, see how many were retail vs fleet from '08 and '09. *Might* not be as bad as it looks.
The cobalt had a 12,000 unit drop? Good LORD!
I guess we need to see a fleet break down as well, see how many were retail vs fleet from '08 and '09. *Might* not be as bad as it looks.
#11
One "bright" spot I suppose is that remember, the buying public was getting beat over the head by the media that GM was about to go out of business. To what extent that coverage had on already down sales, I don't know.
#13
2009 2008 CHG 2009 2008 CHG
COROLLA 19,238 20,736 -10.8 19,238 20,736 -10.8
CAMRY 20,782 31,601 -36.8 20,782 31,601 -36.8
Makes GM's numbers look REALLY bad, especially for the cobalt. Apparently, consumers still like the Camry and Corolla and are still buying them.
http://news.prnewswire.com/ViewConte...4965631&EDATE=
COROLLA 19,238 20,736 -10.8 19,238 20,736 -10.8
CAMRY 20,782 31,601 -36.8 20,782 31,601 -36.8
Makes GM's numbers look REALLY bad, especially for the cobalt. Apparently, consumers still like the Camry and Corolla and are still buying them.
http://news.prnewswire.com/ViewConte...4965631&EDATE=
The Malibu numbers aren't bad. GM is trying to get into the market and the Malibu is really helping. I don't think anyone expected it to sell better than the Camry. Rates are down similar for both vehicles.