General Motors Aficionado
Drives: 2003 GMC Envoy SLE/2007 Ford F-150
Join Date: Aug 2008
GM FEBRUARY SALES DOWN 53%
GM Reports 127,296 Deliveries in February
* Chevrolet retail cars continue to gain share, led by Malibu's 33 percent retail sales gain compared with last year
* Chevrolet Traverse, GMC Acadia, Buick Enclave and Saturn Outlook drive mid-utility crossover retail sales up 35 percent, share up 10 percentage points, compared with a year ago
* GMAC retail penetration increased dramatically to more than 30 percent of sales in February; Credit Union-financed sales now about 10 percent of total
DETROIT - General Motors dealers in the United States delivered 127,296 vehicles in February, down 52.9 percent compared with a year ago, driven by a 75 percent reduction in fleet sales. However, GM's car sales compared with January were up nearly 23 percent, and crossover sales increased 6 percent, as financing availability continued to improve and slightly more fleet orders were able to be filled. Retail sales for the month were off 43 percent compared with a year ago in a total industry vehicle market estimated to be the weakest February since 1967.
"It remains a tough and challenging market, but seeing some upticks in volume and showroom traffic compared with last month is encouraging. Our new products continue to take hold in the market and we are estimating retail share increases with Malibu, Traverse, Enclave, HHR, Cobalt and G6. This is in line with our viability plan which is focused on passenger cars and crossovers in addition to our strong truck lineup," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "With the 2010 Camaro launching this month, closely followed by the Buick LaCrosse, Chevy Equinox and GMC Terrain, we are adding even more world-class, fuel-efficient cars and crossovers to our lineup."
GM February total car sales of 53,813 were off 50 percent and total truck sales (including crossovers) of 73,483 were down 55 percent compared with a year ago.
The newly-launched Chevrolet Traverse crossover continues to gain traction in the marketplace with total sales of more than 6,400 vehicles, up 23 percent from January. Chevrolet's crossover portfolio of HHR, Equinox and Traverse combined for 11,796 retail sales in February, a 7 percent increase compared with last year. Malibu retail sales were up 33 percent compared with a year ago.
"All of our new product launches in the 2009-2014 timeframe are cars or crossovers, and with outstanding products like Malibu and Traverse already in the market, we're building on a strong foundation," LaNeve added. "We saw customers respond to our 0 percent reduced rate APR and bonus cash offers last month, so we're doing what we can to keep sales rolling by extending most of those offers into March."
A total of 1,087 GM hybrid vehicles were delivered in the month, illustrating the wide range of hybrid product offerings available. GM offers the Chevrolet Malibu, Tahoe and Silverado, GMC Yukon and Sierra, Cadillac Escalade, Saturn Aura and Vue hybrids. So far, in 2009, GM has delivered 2,010 hybrid vehicles.
GM inventories dropped compared with a year ago. At the end of February, only about 781,000 vehicles were in stock, down about 160,000 vehicles (or 17 percent) compared with last year. There were about 337,000 cars and 444,000 trucks (including crossovers) in inventory at the end of February. Inventories were reduced about 20,000 vehicles compared with January.
Certified Used Vehicles
GM certified total sales for February 2009 were down, impacted by the uncertain economic environment. 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 33,014 vehicles.
GM Certified Used Vehicles, the industry's top-selling certified brand, posted February sales of 28,204 vehicles, down 25 percent from February 2008. However, several brands saw an increase in sales from February 2008. Saturn Certified Pre-Owned Vehicles sold 828 vehicles, up 17 percent. Cadillac Certified Pre-Owned Vehicles sold 3,303 vehicles, up 1 percent. Saab Certified Pre-Owned Vehicles sold 476 vehicles, up 4 percent, and HUMMER Certified Pre-Owned Vehicles sold 203 vehicles, up 31 percent.
"Despite slow sales in February, the Certified Pre-Owned Program continues to be a bright spot for GM, our dealers and the automotive industry as a whole," said LaNeve. "In particular, we are proud of the strong performance of our luxury CPO brands that continue to show good growth year-over-year. We are providing a tremendous value for customers and dealers in very challenging times for the industry and economy."
GM North America Reports February 2009 Production; Q1 2009 Production Forecast remains at 380,000 Vehicles; Initial Q2 2009 Production Forecast at 550,000 Vehicles
In February, GM North America produced 135,000 vehicles (37,000 cars and 98,000 trucks). This is down 215,000 vehicles or 61 percent compared with February 2008 when the region produced 350,000 vehicles (129,000 cars and 221,000 trucks). (Production totals include joint venture production of 7,000 vehicles in February 2009 and 22,000 vehicles in February 2008.)
The region's 2009 first-quarter production forecast remains unchanged from last month's projection of 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.
The region's 2009 second-quarter production forecast is initially set at 550,000 vehicles (195,000 cars and 355,000 trucks), which is down about 34 percent compared with a year ago. GM North America built 834,000 vehicles (382,000 cars and 452,000 trucks) in the second-quarter of 2008.