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2014 May U.S. Sales 8-K




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) June 3, 2014
___________________

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))





Item 8.01 Other Events

On June 3, 2014, General Motors Company issued a news release announcing May 2014 U.S. sales. The release and charts are attached as Exhibit 99.1.


EXHIBIT

Exhibit
Description
Method of Filing
 
 
 
Exhibit 99.1
U.S. Sales Release and Charts
Dated June 3, 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: June 5, 2014
By:
Thomas S. Timko
Vice President, Controller and Chief Accounting Officer




2014 May U.S. Sales Press Release & Charts Exhibit 99.1


Exhibit 99.1

For Immediate Release: June 3, 2014

GM Reports Best Monthly Sales Since August 2008
May total sales up 13 percent; retail sales up 10 percent
 
DETROIT - General Motors Co. (NYSE: GM) dealers delivered 284,694 vehicles in the United States in May, up 13 percent compared to a year ago, marking the company’s best May in seven years and its best total sales since August 2008. Retail sales - vehicles sold to individual buyers - were up 10 percent while fleet sales were up 21 percent. GM expects to increase its total market share year over year.

“The momentum we generated in April carried into May, with all four brands performing well in a growing economy and 17 vehicle lines posting double-digit retail sales increases or better,” said Kurt McNeil, U.S. vice president of Sales Operations.

For the month, Chevrolet sales were up 14 percent in total, driven by a 26 percent increase in car deliveries. Buick sales were also very strong, with deliveries up 11 percent in total and 10 percent on a retail basis. Buick had its best May total and retail since 2005. Both Cadillac and GMC had their best May total and retail sales since 2007.

May Sales Highlights (vs. 2013 except as noted)
•
The seasonally adjusted annual selling rate (SAAR) for light vehicles was an estimated 16.5 million units - the third consecutive month above 16 million.
•
Cruze was up 41 percent. Chevrolet Corvette deliveries were up 268 percent, Spark sales doubled, Camaro was up 30 percent and Impala was up 23 percent. Malibu retail sales were up 12 percent.
•
Retail sales of Chevrolet and GMC large SUVs doubled, while retail sales of the Chevrolet Equinox and GMC Terrain were up 16 percent and 13 percent, respectively.
•
Chevrolet Silverado and GMC Sierra sales were up for the third month in a row, with May deliveries up 8 percent and 14 percent, respectively.
•
At Cadillac, sales of the CTS sedan were up 39 percent and Escalade deliveries were up 30 percent. SRX sales were up 27 percent, for the vehicle line’s best May ever.
•
Buick Encore deliveries more than doubled and Regal sales were up 49 percent.
•
GM’s average transaction prices (ATPs), including full-size pickup ATPs, were in line with April. Calendar year to date, GM’s ATPs are up about $2,700.
•
Incentive spending as a percentage of average transaction price was 10.4 percent, down 0.5 points from a year ago, according to J.D. Power PIN estimates. The industry average for May was 9.9 percent.
•
Commercial fleet sales were up 21 percent for the seventh consecutive monthly increase and the best month since September 2008. Within commercial fleet, full-size van sales were up 46 percent and full-size pickups were up 35 percent.
•
Small business deliveries, which are included in retail sales, were up 10 percent.

GM’s fleet deliveries in May exceeded expectations due to the timing of rental customer deliveries, and May will likely represent the company’s highest fleet volume month of 2014. Last year, June was GM’s highest volume fleet month. As a result, GM expects that June 2014 year-over-year fleet sales will be down sharply.





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
   
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.
###

CONTACT:

Jim Cain
GM Communications
313-407-2843
james.cain@gm.com

Sales Tables
 
 
 
 
 
 
 
 
May
Total Sales
YOY Change
Retail Sales
YOY Change
Chevrolet
205,010
14.2%
135,878
8.8%
GMC
45,039
8.3%
38,861
14.9%
Buick
19,957
11.0%
17,432
9.7%
Cadillac
14,688
6.4%
13,625
4.4%
Total
284,694
12.6%
205,796
9.7%
 
 
 
 
 
2014CY
Total Sales
YOY Change
Retail Sales
YOY Change
Chevrolet
839,341
2.2%
575,152
2.7%
GMC
188,821
4.1%
164,457
6.2%
Buick
92,069
11.2%
77,429
4.5%
Cadillac
68,176
-2.3%
63,478
0.9%
Total
1,188,407
2.8%
880,516
3.4%
 
 
 
 
 
Fleet Segment
Month
YOY Change
2014 CY
CY Change
Share of Sales
27.7%
1.9 points
25.9%
-0.4 points
 
 
 
 
 
Inventory
Units at
Month-end
Days Supply
(selling day adjusted)
Units at
Previous
Month-end
Days Supply
(selling day adjusted)
All Vehicles
815,897
77
825,805
85
 
 
 
 
 
 
Industry Sales
Month (est.)
2014 (est.)
 
 
Light Vehicle SAAR
16.5 million
16.0-16.5 million
 




 
May
 
(Calendar Year-to-Date)
January - May
 
 
2014

2013

%Change Volume

 
2014

2013

%Change Volume

 
Enclave
4,589

5,310

(13.6
)
 
23,940

25,919

(7.6
)
 
Encore
4,475

2,103

112.8

 
19,515

9,972

95.7

 
LaCrosse
4,681

4,804

(2.6
)
 
19,948

20,483

(2.6
)
 
Regal
2,396

1,607

49.1

 
10,560

7,437

42.0

 
Verano
3,816

4,158

(8.2
)
 
18,106

18,944

(4.4
)
 
Buick Total*
19,957

17,982

11.0

 
92,069

82,759

11.2

 
ATS
2,497

3,249

(23.1
)
 
12,552

15,724

(20.2
)
 
CTS
2,905

2,457

18.2

 
13,834

12,717

8.8

 
ELR
52

—

***.*

 
293

—

***.*

 
Escalade
1,664

1,033

61.1

 
4,764

4,642

2.6

 
Escalade ESV
846

695

21.7

 
2,677

3,160

(15.3
)
 
Escalade EXT
3

200

(98.5
)
 
47

973

(95.2
)
 
SRX
4,762

3,744

27.2

 
24,212

20,078

20.6

 
XTS
1,959

2,429

(19.3
)
 
9,797

12,450

(21.3
)
 
Cadillac Total*
14,688

13,808

6.4

 
68,176

69,750

(2.3
)
 
Avalanche
1

1,980

***.*

 
72

10,166

(99.3
)
 
Camaro
10,340

7,929

30.4

 
38,951

35,076

11.0

 
Caprice
241

129

86.8

 
1,298

1,041

24.7

 
Captiva Sport
6,204

5,084

22.0

 
24,852

21,778

14.1

 
Colorado
—

244

***.*

 
22

2,879

(99.2
)
 
Corvette
3,328

905

267.7

 
15,021

4,820

211.6

 
Cruze
32,393

23,055

40.5

 
119,330

100,818

18.4

 
Equinox
22,695

22,918

(1.0
)
 
99,083

102,752

(3.6
)
 
Express
9,822

8,353

17.6

 
31,378

31,734

(1.1
)
 
Impala
13,348

10,841

23.1

 
64,121

66,127

(3.0
)
 
Malibu
19,288

18,899

2.1

 
87,368

89,812

(2.7
)
 
Silverado-C/K Pickup
46,648

43,283

7.8

 
197,160

199,327

(1.1
)
 
Sonic
8,784

9,523

(7.8
)
 
40,672

37,783

7.6

 
Spark
5,177

2,581

100.6

 
18,591

14,484

28.4

 
Suburban (Chevy)
5,423

4,753

14.1

 
16,987

17,850

(4.8
)
 
SS
297

—

***.*

 
1,445

—

***.*

 
Tahoe
9,229

9,243

(0.2
)
 
34,691

35,067

(1.1
)
 
Traverse
10,108

8,182

23.5

 
41,461

42,999

(3.6
)
 
Volt
1,684

1,607

4.8

 
6,838

7,157

(4.5
)
 
Chevrolet Total*
205,010

179,510

14.2

 
839,341

821,674

2.2

 
Acadia
6,282

8,815

(28.7
)
 
33,147

37,318

(11.2
)
 
Canyon
—

88

***.*

 
2

812

(99.8
)
 
Savana
4,124

1,906

116.4

 
11,936

6,320

88.9

 
Sierra
18,326

16,061

14.1

 
77,785

71,065

9.5

 
Terrain
8,734

7,847

11.3

 
41,944

42,617

(1.6
)
 
Yukon
4,409

1,814

143.1

 
14,658

10,308

42.2

 
Yukon XL
3,164

5,063

(37.5
)
 
9,349

12,880

(27.4
)
 
GMC Total
45,039

41,594

8.3

 
188,821

181,320

4.1

 
GM Vehicle Total*
284,694

252,894

12.6

 
1,188,407

1,155,503

2.8

 
27 selling days for the May period this year and 26 for last year.
 
 
 
 
 
*Totals include discontinued Buick Lucerne, Cadillac DTS, and Chevrolet HHR.