That all depends on General Motors 'Revenue Recognition' policy, contained in their Annual Report.
Quote:
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Originally Posted by General Motors Corporation 2007 Annual Report
REVENUE RECOGNITION
Automotive Sales
Automotive sales consist primarily of revenue generated from the sale of vehicles. Vehicle sales are recorded when the title and risks and rewards of ownership have passed, which is generally when the vehicle is released to the carrier responsible for transporting vehicles to dealers. Provisions for recurring dealer and customer sales and leasing incentives, consisting of allowances and rebates, are recorded as reductions to Automotive sales at the time of vehicle sales. Additionally, all other incentives, allowances, and rebates related to vehicles previously sold are recognized as reductions to Automotive sales when announced.
Vehicle sales to daily rental car companies with guaranteed repurchase obligations are accounted for as Equipment on operating leases, net. Lease revenue is recognized ratably over the term of the lease based on the difference between net sales proceeds and the guaranteed repurchase amount. Equipment on operating leases, net is depreciated based on the difference between the cost of the vehicle and estimated residual value using the straight-line method over the term of the lease agreement. Management reviews residual values periodically to determine that estimates remain appropriate, and if an asset is impaired losses are recognized at the time of the impairment.
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So to your question when do they recognize the revenue on the sale of vehicles, it's at shipment, when it's released for transport.
and in case anyone wants the URL to the annual report, you can get them from their site here: 2007 annual report, the Revenue Recognition policy is on P. 86 of the 2007 annual report
http://www.gm.com/corporate/investor...ckholder_info/