Table of Contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) November 1, 2011
GENERAL MOTORS COMPANY
(Exact Name of Registrant as Specified in its Charter)
| DELAWARE (State or other jurisdiction of incorporation) |
001-34960 (Commission File Number) |
27-0756180 (I.R.S. Employer Identification No.) | ||||
| 300 Renaissance Center, Detroit, Michigan (Address of Principal Executive Offices) |
48265-3000 (Zip Code) | |||||
(313) 556-5000
(Registrant’s telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17-CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Table of Contents
| ITEM 8.01 | Other Events |
Sales Release and Charts Dated November 1, 2011
Table of Contents
| ITEM 8.01 | Other Events |
On November 1, 2011, General Motors Company (GM) issued a news release announcing October sales. The release and charts are attached as Exhibit 99.1.
| Exhibit |
Description |
Method of Filing | ||
| Exhibit 99.1 | Sales Release and Charts Dated November 1, 2011 |
Attached as Exhibit | ||
Table of Contents
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| GENERAL MOTORS COMPANY (Registrant) | ||||||
| Date: November 3, 2011 | By: | /s/ Nick S. Cyprus | ||||
| Nick S. Cyprus Vice President, Controller and Chief Accounting Officer | ||||||
Exhibit 99.1
For Release: Tues., Nov. 1, 2011, 10 a.m. EDT
GM’s U.S. Sales Up 2 Percent in October
Chevrolet sales increase 6 percent, led by Cruze and Equinox
DETROIT – General Motors Co. (NYSE: GM) today reported total sales of 186,895 vehicles in October, up 2 percent compared with October 2010. Retail deliveries were up 3 percent compared with the same month a year ago and accounted for 77 percent of GM sales. Deliveries to fleet customers were essentially flat.
“Chevrolet led the way for GM in October driven by the continued success of the Cruze and Equinox,” said Don Johnson, vice president, U.S. Sales Operations. “Chevrolet, Buick, Cadillac and GMC have all performed well this year, which has set the stage for our transition to a higher mix of 2012 model-year vehicles. Combined with the launches of several new fuel-efficient cars, including the Chevrolet Sonic and Buick LaCrosse eAssist, we are very well positioned going forward.”
In October, GM’s year-over-year passenger car sales increased 4 percent, crossover sales decreased 1 percent and sales of trucks, which include full-size pickups, vans and SUVs, increased 2 percent. For the month, 2012 models accounted for 80 percent of passenger car sales and about half of truck and crossover sales.
Highlights for October include double-digit sales increases for the Chevrolet Equinox, Camaro and Express, the Cadillac SRX, the Buick Regal and the GMC Terrain, as well as the continued success of the Chevrolet Cruze.
In addition, Chevrolet dealers delivered more than 1,100 Volts for the vehicle’s best month to date, and GM remains on track to expand Volt availability to 2,600 dealers in all 50 states by the end of the year. The new 40-mpg Chevrolet Sonic also is building momentum, with sales of more than 3,800 units in its second month of launch.
Calendar year to date, all four GM brands have increased their sales compared with the same period a year ago, with Chevrolet, GMC and Buick posting double-digit increases.
| Sales Highlights |
Oct. 2011 Total Sales (vehicles) |
Total Change vs. Oct. 2010 |
Oct. 2011 Retail Sales vs. Oct. 2010 |
CYTD Total Sales (vehicles) |
CYTD Total Sales Change vs. 2010 |
CYTD Retail Sales Change vs. 2010 |
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| Chevrolet |
131,804 | 6.0 | % | 7.1 | % | 1,485,747 | 14.3 | % | 21.0 | % | ||||||||||||||
| GMC |
31,609 | (4.6 | %) | 0.1 | % | 326,556 | 23.1 | % | 20.3 | % | ||||||||||||||
| Buick |
11,687 | (7.0 | %) | (9.1 | %) | 151,779 | 19.9 | % | 20.4 | % | ||||||||||||||
| Cadillac |
11,795 | (11.9 | %) | (12.3 | %) | 124,985 | 5.6 | % | 12.7 | % | ||||||||||||||
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| Total GM |
186,895 | 1.9 | % | 2.6 | % | 2,089,067 | 15.4 | % | 20.2 | % | ||||||||||||||
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1
| Inventory |
Units
@ Oct. 31, 2011 |
Days Supply (selling days adjusted) |
Units
@ Sept. 30, 2011 |
Days Supply (selling days adjusted) |
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| All Vehicles |
592,151 | 82 | 558,157 | 67 | ||||||||||||
| Full-size Pickups |
207,596 | 104 | 208,650 | 88 | ||||||||||||
| Industry Sales |
Sept. | Oct. SAAR (est.) |
CYTD SAAR (est.) |
Full Year 2011 (est.) | ||||
| Total Vehicles |
13.4 million | 13.7 million | 12.9 million | 13.0 million – 13.5 million (low end) |
General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world’s largest and fastest-growing automotive markets. GM’s brands include Chevrolet and Cadillac, as well as Baojun, Buick, GMC, Holden, Isuzu, Jiefang, Opel, Vauxhall and Wuling. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.
CONTACT:
Jim Cain
GM Communications
Cell: 313-407-2843
james.cain@gm.com
Forward-Looking Statements
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM’s most recent annual report on Form 10-K and quarterly reports on Form 10-Q provides information about these and other factors, which we may revise or supplement in future reports to the SEC.
GM U.S. Deliveries for October 2011 - Divisional Brand Level
| *S/D Curr: 26 |
October | (Calendar Year-to-Date) January - October |
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| *S/D Prev: 27 |
2011 | 2010 | % Chg Volume |
% Chg per S/D |
2011 | 2010 | % Chg Volume |
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| Vehicle Total |
186,895 | 183,759 | 1.7 | 5.6 | 2,089,067 | 1,822,303 | 14.6 | |||||||||||||||||||||
| Brand Total |
186,895 | 183,392 | 1.9 | 5.8 | 2,089,067 | 1,810,291 | 15.4 | |||||||||||||||||||||
| Other Brand Total |
0 | 367 | ***.* | ***.* | 0 | 12,012 | ***.* | |||||||||||||||||||||
GM Vehicle Deliveries by Marketing Division
| 2011 | 2010 | % Chg Volume |
% Chg per S/D |
2011 | 2010 | % Chg Volume |
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| Buick Total |
11,687 | 12,569 | -7.0 | -3.4 | 151,779 | 126,569 | 19.9 | |||||||||||||||||||||
| Cadillac Total |
11,795 | 13,393 | -11.9 | -8.5 | 124,985 | 118,406 | 5.6 | |||||||||||||||||||||
| Chevrolet Total ** |
131,804 | 124,294 | 6.0 | 10.1 | 1,485,747 | 1,300,084 | 14.3 | |||||||||||||||||||||
| GMC Total ** |
31,609 | 33,136 | -4.6 | -0.9 | 326,556 | 265,232 | 23.1 | |||||||||||||||||||||
| Brand Total |
186,895 | 183,392 | 1.9 | 5.8 | 2,089,067 | 1,810,291 | 15.4 | |||||||||||||||||||||
| HUMMER Total |
0 | 242 | ***.* | ***.* | 0 | 3,749 | ***.* | |||||||||||||||||||||
| Pontiac Total |
0 | 83 | ***.* | ***.* | 0 | 1,045 | ***.* | |||||||||||||||||||||
| Saab Total |
0 | 0 | ***.* | ***.* | 0 | 608 | ***.* | |||||||||||||||||||||
| Saturn Total |
0 | 42 | ***.* | ***.* | 0 | 6,610 | ***.* | |||||||||||||||||||||
| Other Brand Total |
0 | 367 | ***.* | ***.* | 0 | 12,012 | ***.* | |||||||||||||||||||||
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| GM Vehicle Total |
186,895 | 183,759 | 1.7 | 5.6 | 2,089,067 | 1,822,303 | 14.6 | |||||||||||||||||||||
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| * | Twenty-six selling days for the October period this year and twenty-seven for last year. |
| ** | Calendar Year 2010 includes GMC & Chevrolet Dealer deliveries of commercial vehicles distributed by American Isuzu Motors, Inc. |
| Sales Reporting and Data Management | Page 1 of 2 |
GM U.S. Deliveries for October 2011 by Model
| October | (Calendar Year-to-Date) January - October |
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| 2011 | 2010 | % Chg Volume |
% Chg per S/D |
2011 | 2010 | % Chg Volume |
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| Selling Days (S/D) |
26 | 27 | ||||||||||||||||||||||||||
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| Enclave |
4,509 | 4,693 | -3.9 | -0.2 | 48,913 | 44,982 | 8.7 | |||||||||||||||||||||
| LaCrosse |
4,048 | 4,432 | -8.7 | -5.2 | 49,106 | 51,968 | -5.5 | |||||||||||||||||||||
| Lucerne |
849 | 1,810 | -53.1 | -51.3 | 18,822 | 22,331 | -15.7 | |||||||||||||||||||||
| Regal |
2,281 | 1,634 | 39.6 | 45.0 | 34,938 | 7,288 | 379.4 | |||||||||||||||||||||
| Buick Total |
11,687 | 12,569 | -7.0 | -3.4 | 151,779 | 126,569 | 19.9 | |||||||||||||||||||||
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| CTS |
3,918 | 4,242 | -7.6 | -4.1 | 45,818 | 36,758 | 24.6 | |||||||||||||||||||||
| DTS |
404 | 1,731 | -76.7 | -75.8 | 11,159 | 15,718 | -29.0 | |||||||||||||||||||||
| Escalade |
1,424 | 1,432 | -0.6 | 3.3 | 11,915 | 12,485 | -4.6 | |||||||||||||||||||||
| Escalade ESV |
722 | 951 | -24.1 | -21.2 | 6,492 | 6,649 | -2.4 | |||||||||||||||||||||
| Escalade EXT |
163 | 243 | -32.9 | -30.3 | 1,578 | 1,619 | -2.5 | |||||||||||||||||||||
| SRX |
4,984 | 4,423 | 12.7 | 17.0 | 44,845 | 41,153 | 9.0 | |||||||||||||||||||||
| STS |
180 | 364 | -50.5 | -48.6 | 3,166 | 3,837 | -17.5 | |||||||||||||||||||||
| XLR |
0 | 7 | ***.* | ***.* | 12 | 187 | -93.6 | |||||||||||||||||||||
| Cadillac Total |
11,795 | 13,393 | -11.9 | -8.5 | 124,985 | 118,406 | 5.6 | |||||||||||||||||||||
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| Avalanche |
1,696 | 1,922 | -11.8 | -8.4 | 15,685 | 16,950 | -7.5 | |||||||||||||||||||||
| Aveo |
65 | 6,038 | -98.9 | -98.9 | 28,547 | 41,324 | -30.9 | |||||||||||||||||||||
| Camaro |
6,119 | 5,013 | 22.1 | 26.8 | 76,368 | 71,521 | 6.8 | |||||||||||||||||||||
| Caprice |
116 | 0 | ***.* | ***.* | 614 | 0 | ***.* | |||||||||||||||||||||
| Captiva Sport |
2,140 | 0 | ***.* | ***.* | 2,140 | 0 | ***.* | |||||||||||||||||||||
| Chevy C/T Series |
0 | 1 | ***.* | ***.* | 0 | 9 | ***.* | |||||||||||||||||||||
| Chevy W Series |
0 | 24 | ***.* | ***.* | 0 | 258 | ***.* | |||||||||||||||||||||
| Cobalt |
7 | 1,971 | -99.6 | -99.6 | 850 | 95,809 | -99.1 | |||||||||||||||||||||
| Colorado |
2,093 | 2,231 | -6.2 | -2.6 | 26,078 | 20,657 | 26.2 | |||||||||||||||||||||
| Corvette |
946 | 1,011 | -6.4 | -2.8 | 11,216 | 10,809 | 3.8 | |||||||||||||||||||||
| Cruze |
14,295 | 5,048 | 183.2 | 194.1 | 201,819 | 5,564 | ***.* | |||||||||||||||||||||
| Equinox |
15,108 | 12,773 | 18.3 | 22.8 | 160,143 | 111,828 | 43.2 | |||||||||||||||||||||
| Express |
6,421 | 5,044 | 27.3 | 32.2 | 58,095 | 48,519 | 19.7 | |||||||||||||||||||||
| HHR |
68 | 4,802 | -98.6 | -98.5 | 36,839 | 67,253 | -45.2 | |||||||||||||||||||||
| Impala |
11,982 | 12,389 | -3.3 | 0.4 | 150,104 | 145,974 | 2.8 | |||||||||||||||||||||
| Kodiak 4/5 Series |
0 | 29 | ***.* | ***.* | 10 | 1,183 | -99.2 | |||||||||||||||||||||
| Kodiak 6/7/8 Series |
0 | 26 | ***.* | ***.* | 0 | 241 | ***.* | |||||||||||||||||||||
| Malibu |
10,239 | 12,353 | -17.1 | -13.9 | 181,505 | 175,599 | 3.4 | |||||||||||||||||||||
| Silverado-C/K Pickup |
36,656 | 34,283 | 6.9 | 11.0 | 333,092 | 301,998 | 10.3 | |||||||||||||||||||||
| Sonic |
3,833 | 0 | ***.* | ***.* | 5,539 | 0 | ***.* | |||||||||||||||||||||
| Suburban (Chevy) |
4,655 | 4,354 | 6.9 | 11.0 | 37,710 | 36,162 | 4.3 | |||||||||||||||||||||
| Tahoe |
7,060 | 6,725 | 5.0 | 9.0 | 63,696 | 61,868 | 3.0 | |||||||||||||||||||||
| TrailBlazer |
0 | 2 | ***.* | ***.* | 33 | 215 | -84.7 | |||||||||||||||||||||
| Traverse |
7,197 | 8,255 | -12.8 | -9.5 | 90,661 | 86,267 | 5.1 | |||||||||||||||||||||
| Uplander |
0 | 0 | ***.* | ***.* | 0 | 76 | ***.* | |||||||||||||||||||||
| Volt |
1,108 | 0 | ***.* | ***.* | 5,003 | 0 | ***.* | |||||||||||||||||||||
| Chevrolet Total |
131,804 | 124,294 | 6.0 | 10.1 | 1,485,747 | 1,300,084 | 14.3 | |||||||||||||||||||||
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| Acadia |
5,034 | 5,407 | -6.9 | -3.3 | 67,047 | 55,136 | 21.6 | |||||||||||||||||||||
| Canyon |
778 | 913 | -14.8 | -11.5 | 8,412 | 6,568 | 28.1 | |||||||||||||||||||||
| Envoy |
0 | 1 | ***.* | ***.* | 5 | 81 | -93.8 | |||||||||||||||||||||
| GMC C/T Series |
0 | 2 | ***.* | ***.* | 0 | 54 | ***.* | |||||||||||||||||||||
| GMC W Series |
0 | 32 | ***.* | ***.* | 0 | 357 | ***.* | |||||||||||||||||||||
| Savana |
910 | 1,242 | -26.7 | -23.9 | 14,006 | 11,843 | 18.3 | |||||||||||||||||||||
| Sierra |
13,362 | 12,983 | 2.9 | 6.9 | 120,704 | 103,218 | 16.9 | |||||||||||||||||||||
| Terrain |
6,350 | 5,445 | 16.6 | 21.1 | 69,801 | 45,314 | 54.0 | |||||||||||||||||||||
| Topkick 4/5 Series |
0 | 51 | ***.* | ***.* | 5 | 901 | -99.4 | |||||||||||||||||||||
| Topkick 6/7/8 Series |
0 | 51 | ***.* | ***.* | 8 | 418 | -98.1 | |||||||||||||||||||||
| Yukon |
2,958 | 3,704 | -20.1 | -17.1 | 27,295 | 22,573 | 20.9 | |||||||||||||||||||||
| Yukon XL |
2,217 | 3,305 | -32.9 | -30.3 | 19,273 | 18,769 | 2.7 | |||||||||||||||||||||
| GMC Total |
31,609 | 33,136 | -4.6 | -0.9 | 326,556 | 265,232 | 23.1 | |||||||||||||||||||||
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| Brand Total |
186,895 | 183,392 | 1.9 | 5.8 | 2,089,067 | 1,810,291 | 15.4 | |||||||||||||||||||||
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| HUMMER Total |
0 | 242 | ***.* | ***.* | 0 | 3,749 | ***.* | |||||||||||||||||||||
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| Pontiac Total |
0 | 83 | ***.* | ***.* | 0 | 1,045 | ***.* | |||||||||||||||||||||
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| Saab Total |
0 | 0 | ***.* | ***.* | 0 | 608 | ***.* | |||||||||||||||||||||
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| Saturn Total |
0 | 42 | ***.* | ***.* | 0 | 6,610 | ***.* | |||||||||||||||||||||
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| Other Brand Total |
0 | 367 | ***.* | ***.* | 0 | 12,012 | ***.* | |||||||||||||||||||||
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| GM Vehicle Total |
186,895 | 183,759 | 1.7 | 5.6 | 2,089,067 | 1,822,303 | 14.6 | |||||||||||||||||||||
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| Sales Reporting and Data Management | Page 2 of 2 |