GM Reports 170,585 Deliveries in October 2008 Down 45% From 2007

U.S. auto industry at lowest monthly SAAR in more than 25 years

DETROIT – General Motors dealers in the United States delivered 170,585 vehicles in October, down 45 percent compared with a year ago. GM truck sales of 97,119 were down 51 percent and car sales of 73,466 were off 34 percent. The steep decline in vehicle sales was largely due to a significant drop in the market’s retail demand as uncertainty over the deepening credit crisis impacted consumer confidence.

“The market has been shrinking for three years, but in October we saw a dramatic decline for the industry and GM,” said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. “ We are obviously disappointed in our results which reflect a difficult comparison with a strong year-ago October performance. More importantly, it also reflects an unprecedented credit crunch that is dramatically impacting the entire U.S. economy – from the housing market to big and small companies to banks to family run businesses. The credit freeze has also had a very negative impact on consumers’ confidence and their purchase behavior across America.”

“We outpaced the competition with our sales results in August and September, and fell back with the industry in October. If you adjust for population growth, this is probably the worst industry sales month in the post-WWII era,” LaNeve added. “We believe there is considerable pent-up demand from the last three years, but until the credit markets open up and consumer confidence improves, the entire U.S. economy, and any industry like autos that relies on financing, will suffer.

“We’ll do our part to continue fighting against these significant economic headwinds by bringing consumers the highest quality, most fuel efficient and affordable cars, trucks and crossovers that we can,” he said.

To that end, LaNeve announced that GM’s no-haggle Red Tag Event starts nationwide tomorrow, Nov. 4. The Red Tag Event will provide great deals on most new vehicles in GM’s portfolio by offering a special Red Tag vehicle price and customer cash back. In addition, GM’s recently announced “Financing That Fits” program enables consumers to find financing at affordable rates from GMAC and thousands of other banks, credit unions and financing institutions.

Despite the poor results in October, there were a number of bright spots for individual GM car and truck lines, including:

Chevrolet Malibu retail sales were up 129 percent. For the month, Malibu total sales reached nearly 11,000 vehicles. For the year, Malibu retail sales have totaled nearly 98,000 cars, up 134 percent from year-ago figures.

The all-new Pontiac Vibe recorded a 6 percent total sales increase in October. Almost 42,000 Vibes have been sold this year, up 36 percent from the prior year.

Saab retail sales were up 7.4 percent compared with a year ago, driven by the strong retail performance of the 9-3, which was up more than 16 percent.

GM sold 44,500 Chevrolet Silverado, GMC Sierra and Chevrolet Avalanche full-size pickups in October, further solidifying its segment leadership.

GM hybrids continue to build sales momentum and the company has broken through the 10-thousand vehicle sales mark. A total of 1,496 hybrid vehicles were delivered in the month. Hybrid sales included: 372 hybrid Chevrolet Tahoe, 193 GMC Yukon and 230 Cadillac Escalade 2-mode SUVs delivered. There were 325 Chevrolet Malibu, 22 Saturn Aura and 354 Vue hybrids sold in October. GM has sold 10,549 hybrids so far in 2008.

GM continues to proactively manage inventories to align supplies with market demand. In October, only about 799,000 vehicles were in stock, down about 146,000 vehicles (or about 15 percent) compared with last year. There were about 336,000 cars and 463,000 trucks (including crossovers) in inventory at the end of October.

“These are extraordinary times for the U.S. economy, for consumers and for an auto industry that is running at deep recessionary levels relative to 1999-2006,” LaNeve said. “We are offering the highest quality and best value vehicles to customers in our history – along with great incentives. But we can’t do it alone as GM or the auto industry. It will take a coordinated national effort to turn this economy around.”

Certified Used Vehicles

October 2008 sales for all certified GM brands, including GM Certified Used Vehicles, Cadillac Certified Pre-Owned Vehicles, Saturn Certified Pre-Owned Vehicles, Saab Certified Pre-Owned Vehicles, and HUMMER Certified Pre-Owned Vehicles, were 33,735 vehicles, down 15 percent from October 2007. Year-to-date sales are 408,451 vehicles, down 7 percent from the same period last year.

GM Certified Used Vehicles, the industry’s top-selling certified brand, posted October sales of 29,167 vehicles, down 16 percent from October 2007. Saturn Certified Pre-Owned Vehicles sold 783 vehicles, down 11 percent. Cadillac Certified Pre-Owned Vehicles sold 3,051 vehicles, down 6 percent. Saab Certified Pre-Owned Vehicles sold 506 vehicles, down 2 percent, and HUMMER Certified Pre-Owned Vehicles sold 228 vehicles, up 75 percent.

“October sales were disappointing for certified GM programs, as consumer uncertainty over the growing credit crisis had a negative impact on consumer confidence and retail demand for both new and used vehicles,” said LaNeve. “Going forward, we will continue offering consumers the tremendous peace of mind and value that comes with a factory-backed, fully inspected and reconditioned, late-model used vehicle from the GM brands they know and trust.”

GM North America Reports October, 2008 Production; Fourth Quarter Forecast Remains at 875,000 Vehicles

In October, GM North America produced 318,000 vehicles (151,000 cars and 167,000 trucks). This is down 105,000 vehicles or 25 percent compared with October 2007 when the region produced 423,000 vehicles (152,000 cars and 271,000 trucks). (Production totals include joint venture production of 11,000 vehicles in October 2008 and 18,000 vehicles in October 2007.)

The GM North America fourth-quarter production forecast remains at 875,000 vehicles (407,000 cars and 468,000 trucks) which is down about 16 percent compared with a year ago. GM North America built 1.042 million vehicles (358,000 cars and 684,000 trucks) in the fourth-quarter of 2007.

General Motors Corp. , the world’s largest automaker, has been the annual global industry sales leader for 77 years. Founded in 1908, GM today employs about 266,000 people around the world. With global headquarters in Detroit, GM manufactures its cars and trucks in 34 countries. In 2007, nearly 9.37 million GM cars and trucks were sold globally under the following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden, HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling. GM’s OnStar subsidiary is the industry leader in vehicle safety, security and information services. More information on GM can be found at www.gm.com.

*S/D Curr: 27 October (Calendar Year-to-Date)
January - October 
*S/D Prev: 26 2008 2007 % Chg Volume %Chg per S/D 2008 2007 %Chg Volume 
Vehicle Total 170,585 310,008 -45.0 -47.0 2,603,828 3,279,513 -20.6 
Car Total 73,466 111,738 -34.3 -36.7 1,111,189 1,267,753 -12.3 
Light Truck Total 95,253 195,670 -51.3 -53.1 1,470,196 1,973,748 -25.5 
Light Vehicle Total 168,719 307,408 -45.1 -47.1 2,581,385 3,241,501 -20.4 
Truck Total 97,119 198,270 -51.0 -52.8 1,492,639 2,011,760 -25.8 
GM Vehicle Deliveries by Marketing Division  
  2008 2007 %Chg Volume %Chg per S/D 2008 2007 %Chg Volume 
Buick Total 7,642 14,231 -46.3 -48.3 120,772 158,146 -23.6 
Cadillac Total 9,541 21,267 -55.1 -56.8 139,109 176,249 -21.1 
Chevrolet Total 107,313 179,825 -40.3 -42.5 1,567,684 1,928,373 -18.7 
GMC Total 21,109 44,456 -52.5 -54.3 326,999 425,694 -23.2 
HUMMER Total 1,368 3,864 -64.6 -65.9 23,861 46,624 -48.8 
**Other-Isuzu Total 0 0 ***.* ***.* 0 7,906 **.* 
Pontiac Total 13,054 25,182 -48.2 -50.1 238,762 301,771 -20.9 
Saab Total 1,975 2,275 -13.2 -16.4 19,337 27,960 -30.8 
Saturn Total 8,583 18,908 -54.6 -56.3 167,304 206,790 -19.1 
GM Vehicle Total 170,585 310,008 -45.0 -47.0 2,603,828 3,279,513 -20.6 
GM Car Deliveries by Marketing Division  
  2008 2007 %Chg Volume %Chg per S/D 2008 2007 %Chg Volume 
Buick Total 5,398 9,698 -44.3 -46.4 80,981 112,246 -27.9 
Cadillac Total 6,271 13,899 -54.9 -56.6 93,200 106,372 -12.4 
Chevrolet Total 43,791 52,740 -17.0 -20.0 627,267 647,883 -3.2 
Pontiac Total 12,105 23,037 -47.5 -49.4 220,895 272,164 -18.8 
Saab Total 1,659 1,959 -15.3 -18.5 16,187 23,605 -31.4 
Saturn Total 4,242 10,405 -59.2 -60.7 72,659 105,483 -31.1 
GM Car Total 73,466 111,738 -34.3 -36.7 1,111,189 1,267,753 -12.3 
GM Light Truck Deliveries by Marketing Division  
  2008 2007 %Chg Volume %Chg per S/D 2008 2007 %Chg Volume 
Buick Total 2,244 4,533 -50.5 -52.3 39,791 45,900 -13.3 
Cadillac Total 3,270 7,368 -55.6 -57.3 45,909 69,877 -34.3 
Chevrolet Total 62,690 125,875 -50.2 -52.0 931,424 1,268,033 -26.5 
GMC Total 20,075 43,066 -53.4 -55.1 313,549 408,045 -23.2 
HUMMER Total 1,368 3,864 -64.6 -65.9 23,861 46,624 -48.8 
Pontiac Total 949 2,145 -55.8 -57.4 17,867 29,607 -39.7 
Saab Total 316 316 0.0 -3.7 3,150 4,355 -27.7 
Saturn Total 4,341 8,503 -48.9 -50.8 94,645 101,307 -6.6 
GM Light Truck Total 95,253 195,670 -51.3 -53.1 1,470,196 1,973,748 -25.5 

* Twenty-seven selling days (S/D) for the October period this year and twenty-six for last year.
** Prior to Aug '07, includes American Isuzu Motors, Inc., dealer deliveries of commercial vehicles distributed by GM as reported to GM by American Isuzu Motors Inc.
Effective Aug '07, GM only includes GMC & Chevrolet dealer deliveries of commercial vehicles distributed by American Isuzu Motors, Inc.

CARS

  October (Calendar Year-to-Date)
January - October 
  2008 2007 % Chg Volume %Chg per S/D 2008 2007 %Chg Volume 
Selling Days (S/D) 27 26   27 26  
Century 0 0 ***.* ***.* 0 5 **.* 
LaCrosse 1,592 3,128 -49.1 -51.0 33,336 41,073 -18.8 
LaSabre 0 0 ***.* ***.* 0 121 **.* 
Lucerne 3,806 6,570 -42.1 -44.2 47,645 71,021 -32.9 
Park Avenue 0 0 ***.* ***.* 0 26 **.* 
Buick Total 5,398 9,698 -44.3 -46.4 80,981 112,246 -27.9 
CTS 3,997 6,586 -39.3 -41.6 51,476 44,666 15.2 
DeVille 0 0 ***.* ***.* 0 71 **.* 
DTS 1,590 5,336 -70.2 -71.3 27,380 43,480 -37.0 
STS 632 1,862 -66.1 -67.3 13,253 16,630 -20.3 
XLR 52 115 -54.8 -56.5 1,091 1,525 -28.5 
Cadillac Total 6,271 13,899 -54.9 -56.6 93,200 106,372 -12.4 
Aveo 3,162 6,373 -50.4 -52.2 49,782 55,520 -10.3 
Cavalier 0 0 ***.* ***.* 0 57 **.* 
Classic 0 0 ***.* ***.* 0 17 **.* 
Cobalt 6,478 16,505 -60.8 -62.2 168,940 169,400 -0.3 
Corvette 1,170 2,484 -52.9 -54.6 24,554 28,333 -13.3 
Impala 22,107 20,791 6.3 2.4 231,841 270,504 -14.3 
Malibu 10,874 5,975 82.0 75.3 151,429 108,930 39.0 
Monte Carlo 0 610 **.* **.* 708 14,882 -95.2 
SSR 0 2 **.* **.* 13 240 -94.6 
Chevrolet Total 43,791 52,740 -17.0 -20.0 627,267 647,883 -3.2 
Bonneville 0 0 ***.* ***.* 0 130 **.* 
G5 812 2,519 -67.8 -69.0 21,892 23,249 -5.8 
G6 6,788 10,805 -37.2 -39.5 126,494 121,278 4.3 
G8 1,082 0 ***.* ***.* 12,390 0 ***.* 
Grand Am 0 0 ***.* ***.* 0 99 **.* 
Grand Prix 148 5,813 -97.5 -97.5 8,252 78,380 -89.5 
GTO 0 48 **.* **.* 52 4,159 -98.7 
Solstice 330 1,064 -69.0 -70.1 10,013 14,133 -29.2 
Sunfire 0 0 ***.* ***.* 0 39 **.* 
Vibe 2,945 2,788 5.6 1.7 41,802 30,697 36.2 
Pontiac Total 12,105 23,037 -47.5 -49.4 220,895 272,164 -18.8 
9-2X 0 0 ***.* ***.* 3 118 -97.5 
9-3 1,471 1,677 -12.3 -15.5 13,877 19,774 -29.8 
9-5 188 282 -33.3 -35.8 2,307 3,713 -37.9 
Saab Total 1,659 1,959 -15.3 -18.5 16,187 23,605 -31.4 
Astra 543 0 ***.* ***.* 9,707 0 ***.* 
Aura 3,391 4,425 -23.4 -26.2 54,033 50,487 7.0 
ION 0 5,135 **.* **.* 314 45,138 -99.3 
Saturn L Series 0 0 ***.* ***.* 0 2 **.* 
Sky 308 845 -63.6 -64.9 8,605 9,856 -12.7 
Saturn Total 4,242 10,405 -59.2 -60.7 72,659 105,483 -31.1 
GM Car Total 73,466 111,738 -34.3 -36.7 1,111,189 1,267,753 -12.3 

TRUCKS

  October (Calendar Year-to-Date)
January - October 
  2008 2007 % Chg 
Volume %Chg 
per S/D 2008 2007 %Chg Volume 
Selling Days (S/D) 27 26   27 26  
Enclave 2,228 4,244 -47.5 -49.4 39,128 20,726 88.8 
Rainier 3 100 -97.0 -97.1 114 4,664 -97.6 
Rendezvous 0 39 **.* **.* 23 15,247 -99.8 
Terraza 13 150 -91.3 -91.7 526 5,263 -90.0 
Buick Total 2,244 4,533 -50.5 -52.3 39,791 45,900 -13.3 
Escalade 1,556 3,499 -55.5 -57.2 19,275 30,777 -37.4 
Escalade ESV 533 1,460 -63.5 -64.8 9,076 13,635 -33.4 
Escalade EXT 265 716 -63.0 -64.4 3,779 6,850 -44.8 
SRX 916 1,693 -45.9 -47.9 13,779 18,615 -26.0 
Cadillac Total 3,270 7,368 -55.6 -57.3 45,909 69,877 -34.3 
Astro 0 0 ***.* ***.* 0 25 **.* 
C/K Suburban (Chevy) 2,464 8,317 -70.4 -71.5 44,121 70,867 -37.7 
Chevy C/T Series 61 25 144.0 135.0 320 241 32.8 
Chevy W Series 95 245 -61.2 -62.7 1,398 2,286 -38.8 
Colorado 2,552 5,753 -55.6 -57.3 47,396 64,878 -26.9 
Equinox 2,841 5,978 -52.5 -54.2 59,130 76,587 -22.8 
Express Cutaway/G Cut 1,155 1,991 -42.0 -44.1 10,944 16,646 -34.3 
Express Panel/G Van 5,840 5,708 2.3 -1.5 49,822 63,475 -21.5 
Express/G Sportvan 561 1,214 -53.8 -55.5 12,056 13,808 -12.7 
HHR 5,265 7,979 -34.0 -36.5 85,763 88,346 -2.9 
Kodiak 4/5 Series 572 786 -27.2 -29.9 5,943 7,973 -25.5 
Kodiak 6/7/8 Series 104 154 -32.5 -35.0 1,332 1,957 -31.9 
S/T Blazer 0 0 ***.* ***.* 0 7 **.* 
Tahoe 3,674 16,066 -77.1 -78.0 81,012 125,710 -35.6 
TrailBlazer 2,954 11,310 -73.9 -74.8 68,235 114,760 -40.5 
Traverse 1,359 0 ***.* ***.* 1,585 0 ***.* 
Uplander 736 7,356 -90.0 -90.4 39,359 60,019 -34.4 
Venture 0 0 ***.* ***.* 0 25 **.* 
Avalanche 1,600 5,487 -70.8 -71.9 29,810 46,305 -35.6 
Silverado-C/K Pickup 31,689 48,716 -35.0 -37.4 402,191 526,575 -23.6 
Chevrolet Fullsize Pickups 33,289 54,203 -38.6 -40.9 432,001 572,880 -24.6 
Chevrolet Total 63,522 127,085 -50.0 -51.9 940,417 1,280,490 -26.6 
Acadia 3,071 6,120 -49.8 -51.7 60,089 58,977 1.9 
Canyon 649 1,543 -57.9 -59.5 12,904 17,975 -28.2 
Envoy 887 4,111 -78.4 -79.2 21,864 41,614 -47.5 
GMC C/T Series 33 88 -62.5 -63.9 429 893 -52.0 
GMC W Series 177 323 -45.2 -47.2 2,229 3,524 -36.7 
Safari (GMC) 0 0 ***.* ***.* 0 13 **.* 
Savana Panel/G Classic 626 1,007 -37.8 -40.1 9,089 12,601 -27.9 
Savana Special/G Cut 246 239 2.9 -0.9 10,011 7,871 27.2 
Savana/Rally 188 159 18.2 13.9 1,233 1,626 -24.2 
Sierra 11,256 17,417 -35.4 -37.8 145,067 174,621 -16.9 
Topkick 4/5 Series 368 431 -14.6 -17.8 7,133 8,086 -11.8 
Topkick 6/7/8 Series 456 548 -16.8 -19.9 3,659 5,146 -28.9 
Yukon 1,836 7,706 -76.2 -77.1 32,412 53,949 -39.9 
Yukon XL 1,316 4,764 -72.4 -73.4 20,880 38,798 -46.2 
GMC Total 21,109 44,456 -52.5 -54.3 326,999 425,694 -23.2 
HUMMER H1 0 3 **.* **.* 17 119 -85.7 
HUMMER H2 260 968 -73.1 -74.1 5,488 10,323 -46.8 
HUMMER H3 857 2,893 -70.4 -71.5 18,104 36,182 -50.0 
HUMMER H3T 251 0 ***.* ***.* 252 0 ***.* 
HUMMER Total 1,368 3,864 -64.6 -65.9 23,861 46,624 -48.8 
Other-Isuzu F Series 0 0 ***.* ***.* 0 1,116 **.* 
Other-Isuzu H Series 0 0 ***.* ***.* 0 61 **.* 
Other-Isuzu N Series 0 0 ***.* ***.* 0 6,729 **.* 
Other-Isuzu Total 0 0 ***.* ***.* 0 7,906 **.* 
Aztek 0 0 ***.* ***.* 0 25 **.* 
Montana 0 0 ***.* ***.* 0 26 **.* 
Montana SV6 0 31 **.* **.* 64 1,301 -95.1 
Torrent 949 2,114 -55.1 -56.8 17,803 28,255 -37.0 
Pontiac Total 949 2,145 -55.8 -57.4 17,867 29,607 -39.7 
9-7X 316 316 0.0 -3.7 3,150 4,355 -27.7 
Saab Total 316 316 0.0 -3.7 3,150 4,355 -27.7 
Outlook 1,362 2,458 -44.6 -46.6 22,765 28,251 -19.4 
Relay 2 50 -96.0 -96.1 159 1,305 -87.8 
VUE 2,977 5,995 -50.3 -52.2 71,721 71,751 0.0 
Saturn Total 4,341 8,503 -48.9 -50.8 94,645 101,307 -6.6 
GM Truck Total 97,119 198,270 -51.0 -52.8 1,492,639 2,011,760 -25.8