UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
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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) April 3, 2012
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GENERAL MOTORS COMPANY
(Exact Name of Registrant as Specified in its Charter)
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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
Signature
Index to Exhibits
Sales Release and Charts Dated April 3, 2012
ITEM 8.01 Other Events
On April 3, 2012, General Motors Company (GM) issued a news release announcing March sales. The release and charts are attached as Exhibit 99.1.
EXHIBIT
Exhibit | Description | Method of Filing |
Exhibit 99.1 | Sales Release and Charts Dated April 3, 2012 | Attached as Exhibit |
SIGNATURE
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) | ||
/s/ Nick S. Cyprus | ||
Date: April 5, 2012 | By: | Nick S. Cyprus Vice President, Controller and Chief Accounting Officer |
Exhibit 99.1
For Release: Tuesday, April 3, 2012, 10 a.m. EDT
Chevrolet and GMC Drive GM's March Sales up 12 percent
Buick and Cadillac retail sales increase
DETROIT - General Motors Co. (NYSE: GM) today reported total March sales of 231,052 vehicles in the United States, up 12 percent year over year. The monthly total includes a record 100,000 cars and crossovers that achieve an EPA-estimated 30 mpg highway rating or better.
“The economic recovery and a deep bench of fuel-efficient cars and crossovers have been driving our sales for more than a year, but the combined impact has never been stronger than it was in March,” said Don Johnson, vice president, U.S. Sales Operations. “Since the last time fuel prices spiked, both the economy and GM's product portfolio are undeniably stronger. We're now strong across the board in cars, crossovers and trucks.”
Total GM passenger car sales increased 22 percent, with small and compact car sales up a combined 62 percent. Compact crossover sales were up 47 percent and mid-size car sales were up 38 percent. Full-size pickup sales were up 14 percent.
The Chevrolet brand increased its sales 17 percent year over year, and every Chevrolet car line was up. Sales of the Sonic have increased steadily since it launched in August 2011, with March reaching 8,251 vehicles. Volt sales of 2,289 were 50 percent higher than December 2011, which had been the vehicle's best month since launch. Cruze deliveries of 21,607 marked the car's seventh month of sales exceeding 20,000 units and its seventh consecutive month of higher year-over-year sales.
Other March highlights include a 12 percent year-over-year increase in GMC sales driven by strong Sierra and Terrain results, a 34 percent increase in Chevrolet Equinox sales, a 15 percent increase in Cadillac CTS sales, and a very strong month for the new Buick Verano, with sales of 2,497 units.
The company's retail deliveries increased 14 percent compared with March 2011 and accounted for 74 percent of GM sales. Deliveries to fleets increased 6 percent.
Highlights | March 2012 Total Sales | Total Change vs. March 2011 | March 2012 Retail Sales | March 2012 Retail Sales Change vs. March 2011 | CYTD Total Sales | CYTD Total Sales Change vs. 2011 | CYTD 2012 Retail Sales | CYTD 2012 Retail Sales Change vs. 2011 | ||||||||
Chevrolet | 173,073 | 16.8 | % | 118,134 | 16.5 | % | 448,134 | 7.6 | % | 301,217 | 0.7 | % | ||||
GMC | 34,337 | 12.2 | % | 30,348 | 13.8 | % | 91,884 | 1.2 | % | 79,528 | (1.7%) | |||||
Buick | 13,105 | (16.3%) | 12,642 | 5.7 | % | 37,336 | (16.5%) | 35,376 | (5.3%) | |||||||
Cadillac | 10,537 | (13.4%) | 10,303 | 1.9 | % | 30,996 | (23.6%) | 29,852 | (14.4%) | |||||||
Total GM | 231,052 | 11.8 | % | 171,427 | 14.2 | % | 608,320 | 2.7 | % | 445,973 | (1.4%) | |||||
Total sales at Buick and Cadillac were down in total for the month, but retail sales were higher. Buick's
retail sales were up 6 percent on the strength the all-new Verano and the 36-mpg LaCrosse with eAssist. Cadillac retail sales were up 2 percent on the strength of an 18 percent gain by the CTS and continued strong retail sales of the SRX and Escalade.
GM is continuing to aggressively roll out new products to sustain its momentum. At the New York International Auto Show this week, the company will unveil five new or redesigned vehicles, including 2013 Chevrolet Traverse, Cadillac SRX, Buick Enclave and GMC Terrain Denali crossovers, as well as the all-new 2014 Chevrolet Impala sedan.
By the end of 2012, GM will have all-new or redesigned cars and crossovers in segments that represent 60 percent of the retail light vehicle industry.
Inventory | Units @ Feb. 29, 2012 | Days Supply (selling days adjusted) | Units @ March 31, 2012 | Days Supply (selling days adjusted) |
All Vehicles | 667,096 | 80 | 713,008 | 86 |
Full-size Pickups | 210,463 | 116 | 231,594 | 124 |
Industry Sales | March SAAR (est.) | Q1 2012 SAAR (est.) | Full Year 2012 (est.) |
Light Vehicles | 14.3 million | 14.5 million | 13.5 million - 14.0 million |
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
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 March 2012
March | (Calendar Year-to-Date) | |||||||||||||
January - March | ||||||||||||||
2012 | 2011 | %Change Volume | 2012 | 2011 | %Change Volume | |||||||||
Enclave | 3,659 | 4,899 | (25.3 | ) | 10,950 | 14,445 | (24.2 | ) | ||||||
LaCrosse | 4,237 | 4,839 | (12.4 | ) | 13,478 | 12,939 | 4.2 | |||||||
Lucerne | 103 | 2,282 | (95.5 | ) | 828 | 7,672 | (89.2 | ) | ||||||
Regal | 2,609 | 3,643 | (28.4 | ) | 7,100 | 9,683 | (26.7 | ) | ||||||
Verano | 2,497 | — | ***.* | 4,980 | — | ***.* | ||||||||
Buick Total | 13,105 | 15,663 | (16.3 | ) | 37,336 | 44,739 | (16.5 | ) | ||||||
CTS | 4,485 | 3,904 | 14.9 | 12,074 | 14,299 | (15.6 | ) | |||||||
DTS | 79 | 1,580 | (95.0 | ) | 236 | 4,457 | (94.7 | ) | ||||||
Escalade | 1,010 | 1,201 | (15.9 | ) | 3,006 | 3,994 | (24.7 | ) | ||||||
Escalade ESV | 656 | 632 | 3.8 | 1,877 | 1,980 | (5.2 | ) | |||||||
Escalade EXT | 136 | 149 | (8.7 | ) | 394 | 469 | (16.0 | ) | ||||||
SRX | 4,143 | 4,221 | (1.8 | ) | 13,292 | 13,959 | (4.8 | ) | ||||||
STS | 28 | 475 | (94.1 | ) | 87 | 1,353 | (93.6 | ) | ||||||
XLR | — | 2 | ***.* | — | 1 | ***.* | ||||||||
Cadillac Total | 10,537 | 12,164 | (13.4 | ) | 30,966 | 40,512 | (23.6 | ) | ||||||
Avalanche | 2,083 | 1,655 | 25.9 | 5,494 | 4,466 | 23.0 | ||||||||
Aveo | 9 | 2,715 | (99.7 | ) | 42 | 8,214 | (99.5 | ) | ||||||
Camaro | 9,292 | 8,964 | 3.7 | 21,924 | 19,972 | 9.8 | ||||||||
Caprice | 121 | — | ***.* | 368 | — | ***.* | ||||||||
Captiva Sport | 2,670 | — | ***.* | 7,220 | — | ***.* | ||||||||
Cobalt | — | 83 | ***.* | 3 | 642 | (99.5 | ) | |||||||
Colorado | 3,652 | 2,561 | 42.6 | 10,056 | 7,371 | 36.4 | ||||||||
Corvette | 1,376 | 1,163 | 18.3 | 2,932 | 2,839 | 3.3 | ||||||||
Cruze | 21,607 | 18,018 | 19.9 | 57,083 | 50,205 | 13.7 | ||||||||
Equinox | 20,064 | 14,949 | 34.2 | 51,577 | 43,230 | 19.3 | ||||||||
Express | 5,878 | 5,851 | 0.5 | 15,667 | 15,145 | 3.4 | ||||||||
HHR | 4 | 7,428 | ***.* | 9 | 21,213 | ***.* | ||||||||
Impala | 19,035 | 18,063 | 5.4 | 50,377 | 49,541 | 1.7 | ||||||||
Kodiak 4/5 Series | ***.* | ***.* | ***.* | ***.* | ***.* | ***.* | ||||||||
Malibu | 23,887 | 15,551 | 53.6 | 58,550 | 48,745 | 20.1 | ||||||||
Silverado-C/K Pickup | 36,491 | 32,555 | 12.1 | 95,638 | 92,455 | 3.4 | ||||||||
Sonic | 8,251 | — | ***.* | 21,863 | — | ***.* | ||||||||
Suburban (Chevy) | 3,653 | 2,959 | 23.5 | 9,892 | 7,685 | 28.7 | ||||||||
Tahoe | 5,626 | 6,844 | (17.8 | ) | 13,833 | 17,193 | (19.5 | ) | ||||||
TrailBlazer | — | — | ***.* | — | 11 | ***.* | ||||||||
Traverse | 7,085 | 8,230 | (13.9 | ) | 21,691 | 26,368 | (17.7 | ) | ||||||
Volt | 2,289 | 608 | 276.5 | 3,915 | 1,210 | 223.6 | ||||||||
Chevrolet Total | 173,073 | 148,197 | 16.8 | 448,134 | 416,505 | 7.6 | ||||||||
Acadia | 5,649 | 6,418 | (12.0 | ) | 17,149 | 19,688 | (12.9 | ) | ||||||
Canyon | 941 | 765 | 23.0 | 3,064 | 2,224 | 37.8 | ||||||||
Envoy | — | — | ***.* | — | 1 | ***.* | ||||||||
Savana | 2,074 | 1,300 | 59.5 | 5,038 | 2,691 | 87.2 | ||||||||
Sierra | 13,849 | 11,622 | 19.2 | 34,672 | 33,945 | 2.1 | ||||||||
Terrain | 8,461 | 6,301 | 34.3 | 22,196 | 19,860 | 11.8 | ||||||||
Topkick 4/5 Series | ***.* | ***.* | ***.* | ***.* | ***.* | ***.* | ||||||||
Topkick 6/7/8 Series | ***.* | ***.* | ***.* | ***.* | ***.* | ***.* | ||||||||
Yukon | 1,970 | 2,671 | (26.2 | ) | 6,117 | 7,564 | (19.1 | ) | ||||||
Yukon XL | 1,393 | 1,520 | (8.4 | ) | 3,648 | 4,816 | (24.3 | ) | ||||||
GMC Total | 34,337 | 30,597 | 12.2 | 91,884 | 90,789 | 1.2 | ||||||||
GM Vehicle Total | 231,052 | 206,621 | 11.8 | 608,320 | 592,545 | 2.7 | ||||||||
* 28 selling days for the March period this year and 27 for last year. | ||||||||||||||