UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
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FORM 8-K
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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 17, 2014
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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)
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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)) | |
Item 8.01 Other Events
On April 17, 2014 General Motors Company issued a news release announcing 2014 first quarter global sales. The release and charts are attached as Exhibit 99.1.
EXHIBIT
Exhibit | Description | Method of Filing |
Exhibit 99.1 | 2014 First Quarter Global Sales Release and Charts Dated April 17, 2014 | 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/ THOMAS S. TIMKO | ||
Date: April 21, 2014 | By: | Thomas S. Timko Vice President, Controller and Chief Accounting Officer |
Exhibit 99.1
For Immediate Release: April 17, 2014
GM Delivered 2.4 Million Vehicles Globally in Q1
DETROIT - General Motors Co. dealers delivered 2,416,028 vehicles around the world in the first quarter of 2014, up 2 percent compared with a year ago.
Among GM’s top five global markets by volume, China posted the largest year-over-year sales increase, with deliveries up 13 percent to a record 919,114 units. Sales in the United Kingdom and Germany were also up, and Opel/Vauxhall grew its share in 10 European markets.
“We are very encouraged by our results in China, where we outperformed the industry, and in Europe, where Opel’s sales and the economic outlook are improving at the same time,” said GM President Dan Ammann. “We continue to be optimistic about the United States because our award-winning new products are performing well and we have more on the way. South America continues to be challenging for Chevrolet, where we face currency and other challenges, especially in Venezuela.”
First Quarter Highlights (vs. 2013)
• | In Europe, GM’s improving market position is linked to the Opel Mokka and the new Insignia flagship sedan. Cumulative Mokka orders have surpassed 215,000 units since it was launched in fall 2012, while Insignia has topped 85,000 units since it was launched in fall 2013. |
• | GM sales in China set a record in the first quarter. In addition, 2014 deliveries surpassed 1 million units in early April. This is the earliest sales have reached the seven-figure range. |
• | Buick, which celebrated the best year in the brand’s 110-year history in 2013, posted a 14 percent global sales increase. |
• | Cadillac’s global sales were up 9 percent and sales in China more than doubled to 15,357 units. |
GM’s global market share was 11.1 percent, which is down two-tenths of a point from a year ago. However, Opel/Vauxhall gained market share in 10 European markets, including Germany. GM also gained market share in China due to the ongoing success of Buick and Wuling, as well as the growth of Cadillac.
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, its subsidiaries and joint venture entities sell vehicles under the Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. 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.
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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 Global Sales: January - March 2014 | ||||
Region | Total Sales | YOY Change | CYTD | YOY Change |
GM North America | 745,123 | (16,343) | 745,123 | (16,343) |
GM Europe | 337,545 | 2,435 | 337,545 | 2,435 |
GM South America | 211,046 | (23,823) | 211,046 | (23,823) |
GM International Operations | 203,200 | (10,009) | 203,200 | (10,009) |
GM Greater China | 919,114 | 102,741 | 919,114 | 102,741 |
Top Five Markets | Total Sales | YOY Change | CYTD | YOY Change |
China | 919,114 | 102,741 | 919,114 | 102,741 |
United States | 649,637 | (15,326) | 649,637 | (15,326) |
Brazil | 136,912 | (4,206) | 136,912 | (4,206) |
United Kingdom | 85,361 | 5,009 | 85,361 | 5,009 |
Germany | 56,618 | 2,441 | 56,618 | 2,441 |
Sales by Brand | Total Sales | YOY Change | CYTD | YOY Change |
Chevrolet | 1,122,196 | (60,013) | 1,122,196 | (60,013) |
Opel/Vauxhall | 275,676 | 12,037 | 275,676 | 12,037 |
Buick | 294,957 | 35,469 | 294,957 | 35,469 |
Cadillac | 58,945 | 4,857 | 58,945 | 4,857 |
All Others | 664,254 | 62,651 | 664,254 | 62,651 |
Notes: | ||||
GM North America = United States, Canada, Mexico, and other North American markets | ||||
GM Europe = Western, Central and Eastern Europe | ||||
GM Consolidated International Operations = Asia-Pacific (excl. China), Africa and the Middle East* | ||||
*Iran, North Korea, Syria and Sudan are excluded from sales volume calculations. | ||||
GM China = China | ||||