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) October 15, 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 October 15, 2014, General Motors Company issued a news release announcing 2014 third quarter global sales. The release and charts are attached as Exhibit 99.1.
EXHIBIT
Exhibit | Description | Method of Filing |
Exhibit 99.1 | 2014 Third Quarter Global Sales Release and Charts Dated October 15, 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: October 17, 2014 | By: | Thomas S. Timko Vice President, Controller and Chief Accounting Officer |
Exhibit 99.1
For Immediate Release: Oct. 15, 2014
GM Delivers its Best Third Quarter Global Sales Since 1980
• | Chevrolet up 9 percent in North America |
• | Cadillac up 63 percent in China |
• | Buick global sales up 7 percent |
DETROIT - General Motors Co. (NYSE: GM) sold 2,449,595 vehicles around the world in the third quarter of 2014, up 2 percent compared with a year ago. It was the company’s best third quarter since 1980. In the first nine months of 2014, GM sold 7,371,743 vehicles, up 2 percent.
Third quarter sales in the United States and China, the company’s two largest markets, were up 8 percent and 14 percent, respectively. Year to date, sales in the United States and China were up 4 percent and 12 percent, respectively.
GM is on track to surpass sales of 3 million vehicles in China for the second consecutive year and the company expects to top last year’s record sales of 3.16 million vehicles. During September, GM’s cumulative sales in China surpassed 20 million vehicles.
“GM delivered its best third quarter global sales in 34 years thanks to solid growth in the United States and China, and steady improvement in Opel’s market share,” said GM CEO Mary Barra. “We have launches now underway, including the Chevrolet Colorado and GMC Canyon in North America, the Opel/Vauxhall Corsa in Europe, and the Buick Envision and Cadillac ATS-L in China, that will keep our momentum going.”
Highlights (vs. 2013)
• | Chevrolet had record sales in China in the third quarter, up 13 percent to 169,830 units. For the first nine months of year, the brand is up 7 percent to a record 505,316 units. September was Chevrolet’s best month ever in China. |
• | Calendar year to date, Chevrolet sales in South Korea are at record levels. |
• | The success of the new Chevrolet Silverado and GMC Sierra helped GM increase its estimated share of the U.S. retail market for large pickups from 35.8 percent in the first quarter of 2014 to 37.4 percent in the second quarter and 37.9 percent in the third quarter. |
• | Buick’s global sales were up 7 percent in the third quarter to 284,540 units and they are up 11 percent calendar year to date to 858,046 units, driven by strong growth in the United States and China. Buick’s China sales were up 8 percent in the quarter to 220,578 units and they were up 11 percent to 670,999 units in the first nine months of the year. |
• | In China, combined, sales of small SUVs - the Buick Encore, Chevrolet Trax and Captiva - were up 90 percent in the third quarter. In the United States, the Buick Encore has been the best-selling vehicle in its segment for six months in a row. The Chevrolet Trax will launch in the United States in early 2015. |
• | Cadillac’s global sales were up 4 percent in the third quarter and they are up 9 percent year to date, driven by strong growth in China. Cadillac’s China sales were up 48 percent in the quarter to 18,665 units and they were up 63 percent to 52,425 units in the first nine months of the year. |
• | Opel/Vauxhall gained market share in 11 European countries in the first nine months of this year, including Germany, where the brand earned 7 percent of the market, up 0.3 points. |
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.
# # #
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.
Q3 '14 | 2014 Calendar Year-to-Date | |||||||
Region | Total Sales | YOY Change | Pct Change | Total Sales | YOY Change | Pct Change | ||
GM North America | 884,435 | 76,529 | 9.5% | 2,558,869 | 109,424 | 4.5% | ||
GM Europe | 284,479 | (59,184) | (17.2)% | 958,047 | (100,057) | (9.5)% | ||
GM South America | 216,942 | (55,579) | (20.4)% | 642,216 | (127,506) | (16.6)% | ||
GM International | 213,891 | (13,857) | (6.1)% | 631,481 | (29,594) | (4.5)% | ||
GM Greater China | 849,848 | 104,822 | 14.1% | 2,581,130 | 268,712 | 11.6% | ||
Total | 2,449,595 | 52,731 | 2.2% | 7,371,743 | 120,979 | 1.7% | ||
Q3 '14 | 2014 Calendar Year-to-Date | |||||||
Top Five Markets | Total Sales | YOY Change | Pct Change | Total Sales | YOY Change | Pct Change | ||
China | 849,848 | 104,822 | 14.1% | 2,581,130 | 268,712 | 11.6% | ||
United States | 752,020 | 54,907 | 7.9% | 2,207,888 | 90,429 | 4.3% | ||
Brazil | 138,798 | (32,033) | (18.8)% | 418,026 | (58,298) | (12.2)% | ||
United Kingdom | 75,426 | (2,387) | (3.1)% | 235,720 | 3,320 | 1.4% | ||
Canada | 70,639 | 12,114 | 20.7% | 189,287 | 9,364 | 5.2% | ||
Q3 '14 | 2014 Calendar Year-to-Date | |||||||
Sales by Brand | Total Sales | YOY Change | Pct Change | Total Sales | YOY Change | Pct Change | ||
Chevrolet | 1,189,897 | (58,048) | (4.7)% | 3,559,412 | (187,590) | (5.0)% | ||
Opel/Vauxhall | 257,926 | 3,629 | 1.4% | 832,189 | 24,170 | 3.0% | ||
Buick | 284,540 | 18,576 | 7.0% | 858,046 | 81,540 | 10.5% | ||
Cadillac | 69,608 | 2,705 | 4.0% | 194,614 | 15,742 | 8.8% | ||
All Others | 647,624 | 85,869 | 15.3% | 1,927,482 | 187,117 | 10.8% | ||
Notes: | ||||||||
GM North America = United States, Canada, Mexico, and other North American markets | ||||||||
GM Europe = Western, Central and Eastern Europe | ||||||||
GM International = Asia-Pacific, Africa and the Middle East* | ||||||||
GM China = China | ||||||||
*Cuba, Iran, North Korea, Syria and Sudan are excluded from sales volume calculations. | ||||||||