GM Issues in the News
GM Vision
General Motors’ vision is to design, build and sell the world’s best vehicles.
July Sales
General Motors dealers in the United States reported 215,358 total sales in June, an 11-percent gain compared to June 2010. The gain was the result of continued solid retail demand for the company’s wide selection of fuel-efficient vehicles. Retail sales for GM’s brands rose 16 percent for the month, compared to a year ago, and were 4 percent higher than May.
Chevrolet: Chevrolet dealers delivered 149,005 total vehicles in July, a 6-percent increase over July 2010. Retail sales for Chevrolet were up 9 percent, for the eleventh straight month of retail sales increases for the brand. For Cruze, total sales surpassed 20,000 for the fourth month in a row at 24,648. Equinox retail sales rose 75 percent. Year-to-date, Chevrolet total sales are up 14 percent and retail sales are 23 percent higher than in 2010 (read more).
• Buick: Buick reported 16,873 total sales, a four-tenths percent increase compared to last year. This includes a 1-percent increase in year-over-year retail sales, led by demand for the all-new Regal and Regal Turbo. July was the 22nd consecutive month of year-over-year total and retail sales gains for the brand. Year-to-date Buick total sales are 27 percent higher than the first seven months of 2010, while retail sales have risen 28 percent for the year (read more).
• GMC: GMC reported its best month of 2011 with total sales of 37,918, a 36-percent increase compared to the same month last year. Retail sales were up 17 percent for the brand on strong demand for the Terrain (up 67 percent) and the Acadia (up 33 percent). Sierra retail sales rose 2 percent year over year and increased 2 percent compared to June. July also marked the 22nd consecutive month of year-over-year total and retail sales increases for the brand. Through July, GMC total sales are up 25 percent, while retail sales have risen 23 percent (read more).
• Cadillac: Cadillac reported total sales of 11,119 for July, a 26-percent decrease versus last July which included a significant reduction in sales to fleets. For the month, retail sales decreased 26 percent. For the year-to-date, Cadillac total sales are up 9 percent while retail sales have increased 17 percent (read more).
• Fleet sales for GM’s four brands were 56,357 for the month, a 13-percent increase compared to last year’s July. Sales to commercial customers increased 5 percent – the 16th consecutive month of commercial fleet sales gains. Fleet accounted for 26 percent of GM total sales during the month.
Fuel Efficiency
GM has taken significant steps to improve fuel efficiency of its vehicles in every segment, and is bringing additional high-efficiency products to market each year.
GM’s broad-based approach recognizes that, while consumers value fuel efficiency, they also are looking for vehicles that fit their lifestyles and don’t force them to make unnecessary compromises. GM provides those choices:
August 2011
o Chevrolet Cruze Eco – The Cruze has a 42 mpg highway rating, provides hybrid-like efficiency without the added cost. All Cruze models are highly efficient, with highway ratings of 36 mpg or above.
o Chevrolet Equinox and GM Terrain – Both vehicles are rated at 32 mph highway, better than Toyota RAV4, Honda CR-V, or Ford Escape Hybrid.
o GM midsize crossovers – Chevrolet Traverse, GMC Acadia, and Buick Enclave – offer space for up to eight and functionality once found only in traditional full-size SUVs, all with the efficiency of a V6.
o Chevrolet Silverado XFE and GMC Sierra XFE – Both have the highest highway rating – 22 mpg – of any full-size pickup with a V8 and automatic transmission, the powertrain currently preferred by most truck buyers.
o 2012 Buick LaCrosse and Regal with eAssistTM – New fuel-saving technology will increase fuel economy by 25 percent. The eAssist technology for the 2012 Buick Regal and LaCrosse will boost highway fuel economy ratings to 37 mpg.
• GM offers customers a choice of technologies for improving fuel efficiency. For example, the Chevy Volt offers 25 to 50 miles of driving gas-free.
• Chevrolet Sonic and Buick Verano will provide additional alternatives in the small car and compact luxury segments starting later this year.
• With its strong portfolio of compact and midsize cars and crossovers and its robust global product and technology plans, GM is well positioned to deal with current and future increases in the price of fuel.
Fuel Economy Standards
GM is working side-by-side with the federal government on fuel economy standards. We are all in this together, and GM is going to do everything it can to achieve the best results.
Chevrolet Volt
After the Volt’s initial launch in seven markets – California, Connecticut, Michigan, New Jersey, New York, Texas and Washington, DC. – the Volt will be available in all markets in the U.S. by the end of 2011. In 2012, Chevrolet has stated that potential production could reach 45,000 Volts.
Future Products
A strong lineup of new cars and crossovers will help GM strengthen its brands.
First Year of Full Production (2011) – Chevrolet Cruze, Chevrolet Volt, Chevrolet Silverado HD, Buick Regal, GMC Sierra HD and Cadillac CTS Coupe.
New for the 2011 Calendar Year –Chevrolet Sonic HB/ND, Chevrolet Cruze Eco, Chevrolet Camaro Convertible, Buick Verano, Buick LaCrosse eAssist and Buick Regal GS.
2012 Calendar Year – Chevrolet Spark, Chevrolet Camaro ZL1 and Chevrolet Malibu.
Buick – The Buick brand also has future vehicle launches including a Buick small crossover. Timing and details about this Buick model have not been announced.
August 2011 August 2011
Cadillac – The Cadillac brand has confirmed interest in a Cadillac flagship and small rear-wheel-drive-model. Timing and details about these Cadillac models have not been announced.
New Investments
In May, GM announced an investment of about $2 billion in U.S. assembly and component plants, creating or preserving more than 4,000 jobs at 17 facilities in eight states. The new investment is on top of $3.4 billion and more than 9,000 jobs that GM has added or saved since mid-2009.
2011 First Quarter Earnings
General Motors announced first quarter net income attributable to common stockholders of $3.2 billion, marking the company’s fifth consecutive profitable quarter. Revenue increased $4.7 billion to $36.2 billion, compared with the first quarter of 2010.
Calendar Year 2010 Financial Results
General Motors recorded $4.7 billion of net income attributable to common stockholders for Calendar Year 2010, its first full year of operations. Revenue for the calendar year was $135.6 billion. Automotive cash flow from operating activities was $6.6 billion and automotive free cash flow was $2.4 billion, both reflecting the impact of a $4.0 billion voluntary cash contribution to the company’s U.S. pension plans.
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