GM January Sales Down 48.8%...

[FenwickHockey65]

GM Reports 129,227 Deliveries in January


* New products and GMAC financing help stabilize retail share above 21 percent for the second consecutive month
* Cars and crossovers were 65 percent of GM retail vehicles sold
* "Presidents Day Sale" begins with 0 percent APR or bonus cash offers on select vehicles for qualified buyers

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.

Certified Used Vehicles

January 2009 sales for all certified GM brands continue to be robust after a strong gain a month earlier. GM Certified Used Vehicles, Saturn Certified Pre-Owned Vehicles Cadillac Certified Pre-Owned Vehicles, Saab Certified Pre-Owned Vehicles, and HUMMER Certified Pre-Owned Vehicles, combined sold 39,293 vehicles.

GM Certified Used Vehicles, the industry's top-selling certified brand, posted January sales of 33,695 vehicles, up 1 percent from January 2008. Saturn Certified Pre-Owned Vehicles sold 947 vehicles, up 73 percent. Cadillac Certified Pre-Owned Vehicles sold 3,864 vehicles, up 20 percent. Saab Certified Pre-Owned Vehicles sold 538 vehicles, up 25 percent, and HUMMER Certified Pre-Owned Vehicles sold 249 vehicles, up 93 percent.

"The certified used vehicle programs are starting the year strong despite the tight credit market and slowdowns in consumer spending and retail demand for both new and used vehicles," said LaNeve. "We continue to offer consumers the largest selection of certified vehicles and a worry-free purchasing experience that comes with one of the best warranties in the business and a factory-certified, 117-point fully-inspected vehicle."

GM North America Reports January 2009 Production; Q1 2009 Production Forecast at 380,000 Vehicles

In January, GM North America produced 65,000 vehicles (6,000 cars and 59,000 trucks). This is down 232,000 vehicles or 78 percent compared with January 2008 when the region produced 297,000 vehicles (106,000 cars and 191,000 trucks). (Production totals include joint venture production of 3,000 vehicles in January 2009 and 13,000 vehicles in January 2008.)

The region's 2009 first-quarter production forecast is 380,000 vehicles (118,000 cars and 262,000 trucks), which is down about 57 percent compared with a year ago. GM North America built 885,000 vehicles (360,000 cars and 525,000 trucks) in the first-quarter of 2008.

http://media.gm.com/servlet/GatewayS...=6&docid=51817

The competition...

Ford: -40.2%
Chrysler: -54.8%
Toyota: -31.7%
Honda: -27.9%
Nissan: -29.7%

[69 rs/ss]

Originally Posted by FenwickHockey65

http://media.gm.com/servlet/GatewayS...=6&docid=51817

The competition...

Ford: -40.2%
Chrysler: -54.8%
Toyota: -31.7%
Honda: -27.9%
Nissan: -29.7%

Things are bad out there. How did we get here? Was it the banks really?

[PQ]

OK. According to the article, used car sales are up. So the solution is simple. Start building used cars. I know, I know.

I'm a glass is half full person.

[Angrybird 12]

Hmm Don't you think things will pick up a little starting, say around the last of March???

[1_2Many]

^ Very funny, but seriously used car sales are up because they cost less....so the solution would be to reduce price of new vehicles across the board. If that is not possible, then the automakers need to find a product with less overhead.

[jeffny09]

Originally Posted by irpq11

OK. According to the article, used car sales are up. So the solution is simple. Start building used cars. I know, I know.

I'm a glass is half full person.

your an idiot lmao

[franknbeans]

I wonder how much it will show a sale increase once the camaro starts coming out to us.

[USAFJeeper]

Well, Dodge is offering incentives, Employee Pricing, and 0.0% financing. My wife is getting a Charger this weekend. I will consider it a warm up event for the Camaro purchase.

Course when you are paying 5K under sticker, I kinda hate to haggle too much!

[kylepo]

used cars are not up. Certified maybe but it only said one percent right? thats nothing that just means for what ever reason they were bad this time last year.

[DGthe3]

80% drop in fleet sales? Wow. I thought that sales were supposed to be up early in January?

[FenwickHockey65]

Originally Posted by DGthe3

80% drop in fleet sales? Wow. I thought that sales were supposed to be up early in January?

GM and Ford have been drastically cutting fleet sales. That might be a part of it.

[Conflict]

Originally Posted by irpq11

OK. According to the article, used car sales are up. So the solution is simple. Start building used cars. I know, I know.

I'm a glass is half full person.

lol, made me laugh for a while

[kylepo]

no the only reason the fleets are down is because all the rentals are slashing their budgets and not buying cars.

[DGthe3]

Originally Posted by FenwickHockey65

GM and Ford have been drastically cutting fleet sales. That might be a part of it.

might be buuuuut . . .

Originally Posted by kylepo

no the only reason the fleets are down is because all the rentals are slashing their budgets and not buying cars.

I'm gonna side with Kyle on this. GM would be out of their minds to do anything to reduce any of their sales right now. Sure they'd prefer to sell Impalas and Cobalts to the averge buyer but they won't be turning away the rental companies when they are on the brink of bankruptcy.