GM reports 102,420 retail sales in January, up 3% vs. 2009

U.S. dealers for General Motors brands – Chevrolet, Buick, GMC and Cadillac – reported retail sales of 102,420, up 3 percent compared to January 2009, and 145,098 total sales (up 30 percent). These results were driven by the continued strong growth of new GM crossovers and passenger cars. For the month, GM dealers reported 146,825 total sales (including other brands), representing a total sales increase of 14 percent from the previous year.

“This is the fourth month in a row that Chevrolet, Buick, GMC and Cadillac have shown a collective year-over-year retail sales increase,” said Susan Docherty, GM vice president for sales, service and marketing. “Our long-term plan to continue to focus and strengthen our brands is delivering results.”

Chevrolet, Buick, GMC and Cadillac comprised 98 percent of the company’s retail sales in January, compared to 85 percent a year earlier. Retail sales, including other brands, in the U.S. were 104,122 during the month. This represents a 10 percent decline from a year ago, driven by other brand sales – Pontiac, Saturn, Saab and HUMMER – that were 90 percent lower. GM dealers delivered 42,703 fleet vehicles, comprising 29 percent of total deliveries for the month.

Other Key Facts:

• Chevrolet Equinox retail sales increased 67 percent; estimated retail share of the compact crossover segment is up 5 points (Jan. 2009 vs. Jan. 2010)
• GMC Terrain retail sales were up 162 percent (compared to the vehicle it replaces, Pontiac Torrent); estimated retail share of the compact crossover segment is up more than 3 points (Jan. 2009 vs. Jan. 2010)
• Cadillac SRX retail sales were up 218 percent vs. last year, the fifth consecutive month it has gained more than 100 percent year-over-year; SRX gained approximately 15 points of retail share in the Mid-lux SUV crossover segment (Jan. 2009 vs. Jan. 2010)
• In their first year on sale, GM Compact Crossovers – Chevrolet Equinox and GMC Terrain – have become the second best selling crossovers in the industry
• GM sells more crossovers than any other automaker, representing approximately 20 percent of industry crossovers sold
• Buick LaCrosse retail sales were up 142 percent, the fourth consecutive month it has gained more than 100 percent year-over-year; LaCrosse gained an estimated 12 points of retail segment share, making it number one in its segment (Jan. 2009 vs. Jan. 2010)
• Chevrolet dealers sold 5,371 Camaros – the eighth straight month it has outsold Mustang

“Our launch vehicles such as the Chevrolet Equinox and Camaro, Buick LaCrosse, GMC Terrain, and Cadillac SRX continue to attract new customers to our brands,” Docherty said. “In addition to styling and fuel efficiency, customers have told us they want safe, high quality vehicles. They can have peace of mind knowing that our vehicles come standard with our 5-year, 100,000 mile powertrain warranty and OnStar.”

Management Discussion of January Sales Results

“Global economic recovery is picking up pace,” said Mike DiGiovanni, executive director, global market and industry analysis. “In the U.S., we are seeing a strong rebound in manufacturing and stabilization of consumer confidence, which will support a slow but steady improvement in the vehicle market.”

U.S. Economy

• Leading economic indicators point to a continuing recovery in 2010, although risks remain
• Job losses continue to decline, but initial claims of unemployment remain high, indicating continuing reduction in the labor force. Unemployment is likely to stay near 10 percent
• Consumer confidence stabilized at the December level. Consumer vehicle buying attitude is improving, but consumers don’t anticipate a strong recovery in jobs and income
• Home prices have stabilized in large parts of the country. Housing starts dropped 4 percent in December, but rising housing permits indicate construction will pick up in coming months
• The manufacturing sector continues to expand. Corporate profit reports show the corporate sector is positioned to expand as the economy improves

U. S. Auto Industry

• The U.S. January 2010 SAAR is estimated to be approximately 11.0 to 11.3 million (total industry estimate) – largely on par with Q4 2009 sales
• Based on the strengthening U.S. economy, we are increasing our 2010 CY sales outlook to 11.5 to 12.0 million (total vehicle)
  
  

Other Brands Sales Down 90 Percent in January – Represent 1.2 Percent of Sales, 1 Percent of Inventory

Saturn, Pontiac, Saab and HUMMER combined volumes represented 1.2 percent of total sales in January, compared with 12 percent in May 2009. Inventories for the combined brands totaled 4,212 units at January month-end, representing a 96 percent decrease compared to the end of May 2009 (112,141 units).

Month-End Inventories of Non-Core Brands (May2009 – Jan 2010):