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) December 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 Chart Dated December 3, 2012
ITEM 8.01 Other Events
On December 3, 2012, General Motors Company issued a news release announcing November sales. The release and chart are attached as Exhibit 99.1.
EXHIBIT
Exhibit | Description | Method of Filing |
Exhibit 99.1 | Sales Release and Chart Dated December 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: December 5, 2012 | By: | Nick S. Cyprus Vice President, Controller and Chief Accounting Officer |
Exhibit 99.1
For Release: Monday, Dec. 3, 2012, 10 a.m. EST
GM U.S. Sales Increase 3 percent in November
DETROIT - General Motors Co. (NYSE: GM) today reported its highest November sales in the United States since 2007, with deliveries up 3 percent versus a year ago to 186,505 vehicles. Year-over-year sales to retail customers were essentially equal to a year ago and sales to fleet customers were up 16 percent.
“In November, we saw strong car and crossover sales and we continue to make inroads with younger customers, import drivers and buyers focused on fuel economy,” said Kurt McNeil, vice president of U.S. sales operations. “Sales at Cadillac and Buick are benefiting from the buzz generated by new products, including the Buick Verano, Cadillac XTS and Cadillac ATS.”
Sales of GM passenger cars increased 19 percent in November compared with a year ago. Crossovers were up 9 percent and sales of trucks were down 11 percent. Buick and Cadillac had their best November sales since 2006 and 2007, respectively.
• | Passenger car sales were up 77 percent at Cadillac, 22 percent at Buick and 13 percent at Chevrolet. |
• | Combined sales of mini, small and compact cars were up 51 percent compared with a year ago, driven by the new Buick Verano and Chevrolet Spark, a 27 percent increase for the Chevrolet Cruze, a 33 percent increase for the Chevrolet Volt and a 12 percent increase for the Chevrolet Sonic. |
• | Crossover sales were driven by a 44 percent increase for the GMC Terrain, a 23 percent increase for the Buick Enclave and a 13 percent increase for both the Chevrolet Equinox and the Cadillac SRX. |
• | Sales of large pickups were 8 percent lower in part due to unexpectedly high competitive incentive activity, which GM did not match. |
The average transaction prices for GM vehicles increased $750 per unit versus a year ago, even though the company's car and crossover mix increased from 56 percent of total sales to 62 percent. ATPs also increased about $190 per unit from October, when the car and crossover mix was 60 percent.
2012 Highlights | Nov. Total Sales | Total Change vs. Nov. 2011 | Nov. Retail Sales | Retail Change vs. Nov. 2011 | CYTD Sales | CYTD Change vs. 2011 | CYTD Retail Sales | CYTD Retail Change vs. 2011 |
Chevrolet | 128,867 | —% | 88,640 | (4.3)% | 1,684,555 | 4.3% | 1,146,658 | 3.3% |
GMC | 29,832 | 1.2% | 25,101 | (3.4)% | 369,960 | 3.9% | 311,542 | 2.7% |
Buick | 13,289 | 22.1% | 12,232 | 18.4% | 163,935 | 0.8% | 147,327 | 5.3% |
Cadillac | 14,517 | 30.3% | 13,547 | 25.9% | 131,534 | (3.4)% | 123,850 | 2.1% |
Total GM | 186,505 | 3.4% | 139,520 | (0.1)% | 2,349,984 | 3.5% | 1,729,377 | 3.3% |
“The East Coast's ongoing recovery from Hurricane Sandy helped drive the November SAAR materially higher, but it benefited our competitors more than GM, since they rely on the region for more of their sales,” McNeil said.
“It's clear that the industry will come in at the high end of our full-year sales forecast,” he added. “Exactly how much growth we can expect next year will depend in part on how Congress and the president resolve the fiscal cliff issue. Consumers hate uncertainty, so an agreement on ways to reduce long-term federal budget deficits could remove an impediment to growth.”
Inventory | Units @ Nov. 31, 2012 | Days Supply (selling day adjusted) | Units @ Oct. 31, 2012 | Days Supply (selling day adjusted) |
All Vehicles | 788,194 | 106 | 739,034 | 98 |
Full-size Pickups | 245,853 | 139 | 235,585 | 110 |
Industry Sales | Nov. SAAR (est.) | CYTD SAAR (est.) | Full Year 2012 (est.) |
Light Vehicles | 15.3 million range | 14.4 million range | 14.0 million - 14.5 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, 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.
November | (Calendar Year-to-Date) | ||||||||||||||
January - November | |||||||||||||||
2,012 | 2,011 | %Change Volume | 2,012 | 2,011 | %Change Volume | ||||||||||
Enclave | 4,817 | 3,924 | 22.8 | 50,651 | 52,837 | (4.1 | ) | ||||||||
LaCrosse | 3,797 | 4,008 | (5.3 | ) | 53,002 | 53,114 | (0.2 | ) | |||||||
Lucerne | — | 824 | ***.* | 970 | 19,646 | (95.1 | ) | ||||||||
Regal | 1,101 | 2,120 | (48.1 | ) | 23,090 | 37,058 | (37.7 | ) | |||||||
Verano | 3,574 | 4 | ***.* | 36,222 | 4 | ***.* | |||||||||
Buick Total | 13,289 | 10,880 | 22.1 | 163,935 | 162,659 | 0.8 | |||||||||
ATS | 2,152 | — | ***.* | 4,029 | — | ***.* | |||||||||
CTS | 2,798 | 3,804 | (26.4 | ) | 43,607 | 49,622 | (12.1 | ) | |||||||
DTS | 2 | 264 | (99.2 | ) | 465 | 11,423 | (95.9 | ) | |||||||
Escalade | 960 | 1,274 | (24.6 | ) | 11,244 | 13,189 | (14.7 | ) | |||||||
Escalade ESV | 693 | 777 | (10.8 | ) | 7,156 | 7,269 | (1.6 | ) | |||||||
Escalade EXT | 156 | 196 | (20.4 | ) | 1,678 | 1,774 | (5.4 | ) | |||||||
SRX | 5,340 | 4,736 | 12.8 | 51,085 | 49,581 | 3.0 | |||||||||
STS | 2 | 94 | (97.9 | ) | 160 | 3,260 | (95.1 | ) | |||||||
XLR | — | — | ***.* | — | 12 | ***.* | |||||||||
XTS | 2,414 | — | ***.* | 12,110 | — | ***.* | |||||||||
Cadillac Total | 14,517 | 11,145 | 30.3 | 131,534 | 136,130 | (3.4 | ) | ||||||||
Avalanche | 1,778 | 1,857 | (4.3 | ) | 21,258 | 17,542 | 21.2 | ||||||||
Aveo | 1 | 30 | (96.7 | ) | 64 | 28,577 | (99.8 | ) | |||||||
Camaro | 4,464 | 5,127 | (12.9 | ) | 78,554 | 81,495 | (3.6 | ) | |||||||
Caprice | 281 | 167 | 68.3 | 3,489 | 781 | 346.7 | |||||||||
Captiva Sport | 3,672 | 2,915 | 26.0 | 34,228 | 5,055 | 577.1 | |||||||||
Cobalt | — | 1 | ***.* | 11 | 851 | (98.7 | ) | ||||||||
Colorado | 1,327 | 1,978 | (32.9 | ) | 35,547 | 28,056 | 26.7 | ||||||||
Corvette | 1,104 | 910 | 21.3 | 12,841 | 12,126 | 5.9 | |||||||||
Cruze | 16,807 | 13,238 | 27.0 | 216,528 | 215,057 | 0.7 | |||||||||
Equinox | 16,821 | 14,936 | 12.6 | 199,070 | 175,079 | 13.7 | |||||||||
Express | 6,007 | 5,387 | 11.5 | 69,421 | 63,482 | 9.4 | |||||||||
HHR | — | 23 | ***.* | 21 | 36,862 | ***.* | |||||||||
Impala | 11,163 | 10,851 | 2.9 | 159,710 | 160,955 | (0.8 | ) | ||||||||
Kodiak 4/5 Series | — | — | ***.* | — | 10 | ***.* | |||||||||
Malibu | 10,227 | 10,269 | (0.4 | ) | 199,321 | 191,774 | 3.9 | ||||||||
Silverado-C/K Pickup | 30,674 | 34,251 | (10.4 | ) | 367,613 | 367,343 | 0.1 | ||||||||
Sonic | 5,016 | 4,496 | 11.6 | 75,257 | 10,035 | 649.9 | |||||||||
Spark | 1,709 | — | ***.* | 10,156 | — | ***.* | |||||||||
Suburban (Chevy) | 4,705 | 5,787 | (18.7 | ) | 42,160 | 43,497 | (3.1 | ) | |||||||
Tahoe | 5,895 | 8,401 | (29.8 | ) | 60,302 | 72,097 | (16.4 | ) | |||||||
TrailBlazer | — | — | ***.* | — | 33 | ***.* | |||||||||
Traverse | 5,697 | 7,144 | (20.3 | ) | 78,176 | 97,805 | (20.1 | ) | |||||||
Volt | 1,519 | 1,139 | 33.4 | 20,828 | 6,142 | 239.1 | |||||||||
Chevrolet Total | 128,867 | 128,907 | — | 1,684,555 | 1,614,654 | 4.3 | |||||||||
Acadia | 3,631 | 4,886 | (25.7 | ) | 73,101 | 71,933 | 1.6 | ||||||||
Canyon | 330 | 462 | (28.6 | ) | 8,420 | 8,874 | (5.1 | ) | |||||||
Envoy | — | — | ***.* | — | 5 | ***.* | |||||||||
Savana | 1,014 | 732 | 38.5 | 19,320 | 14,738 | 31.1 | |||||||||
Sierra | 11,726 | 11,971 | (2.0 | ) | 138,475 | 132,675 | 4.4 | ||||||||
Terrain | 8,158 | 5,654 | 44.3 | 86,270 | 75,455 | 14.3 | |||||||||
Topkick 4/5 Series | — | — | ***.* | — | 5 | ***.* | |||||||||
Topkick 6/7/8 Series | — | — | ***.* | — | 8 | ***.* | |||||||||
Yukon | 2,438 | 2,987 | (18.4 | ) | 23,876 | 30,282 | (21.2 | ) | |||||||
Yukon XL | 2,535 | 2,778 | (8.7 | ) | 20,498 | 22,051 | (7.0 | ) | |||||||
GMC Total | 29,832 | 29,470 | 1.2 | 369,960 | 356,026 | 3.9 | |||||||||
GM Vehicle Total | 186,505 | 180,402 | 3.4 | 2,349,984 | 2,269,469 | 3.5 | |||||||||
* 25 selling days for the November period this year and 25 for last year. | |||||||||||||||