December 2, 2008.
General Motors dealers in the United States delivered 154,877 vehicles in November, down 41 percent compared with a year ago. GM car sales of 58,786 were off 44 percent and truck sales of 96,091 were down 39 percent. The steep decline in vehicle sales was largely due to a significant drop in the market's retail demand compared with last year, and continuing economic uncertainty that has negatively impacted consumer confidence.
"In November we saw the continuation of the dramatic decline in volume for the industry. Every manufacturer is posting awful numbers and we are no exception," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "We have outstanding products in the market, so it is particularly frustrating when economic uncertainty takes our customers out of the market. There were about 34 percent, or 400,000, fewer vehicles sold this November in the industry than a year ago - this is the annual volume of two full production plants that have simply evaporated in a single month. The global economic crisis and credit freeze have had a very negative impact on the vehicle market which runs on consumer confidence and available financing.
"The fact that we have outstanding, high quality, fuel efficient products and great deals in almost every market segment is not driving demand right now," LaNeve added. "The consumer is scared and sitting on the sideline. We need appropriate economic stimulus to get the consumer back in the game."
To offer customers an outstanding value at year-end, GM's Red Tag Event continues through January 5, 2009. The Red Tag Event provides great deals on most new vehicles in GM's portfolio by offering a special Red Tag vehicle price and customer cash back. GM's "Financing That Fits" program enables consumers to find financing at affordable rates from GMAC and thousands of other banks, credit unions and financing institutions.
Despite the weak market in November, Chevrolet Malibu continued its solid performance with total sales up 31 percent compared with last November. Year to date, Malibu total sales have now exceeded 160,000 cars, up 39 percent from the same period last year. With its six-speed transmission and four-cylinder engine combination, the Malibu delivers an EPA-estimated 33 mpg highway - tops in the industry's mid-car segment. The Malibu Hybrid also offers the lowest-priced hybrid in the segment.
GM hybrids continue to build sales momentum. A total of 1,335 hybrid vehicles were delivered in the month. Hybrid sales included: 404 hybrid Chevrolet Tahoe, 190 GMC Yukon and 173 Cadillac Escalade 2-mode SUVs delivered. There were 195 Chevrolet Malibu, 45 Saturn Aura and 328 Vue hybrids sold in November. Hybrids comprised 10 percent of combined Yukon/Tahoe retail sales and 12 percent of Escalade retail sales in the month. So far in 2008, GM has sold a total of 11,884 hybrids.
GM inventories dropped compared with a year ago. In November, only about 862,000 vehicles were in stock, down about 130,000 vehicles (or about 13 percent) compared with last year. There were about 379,000 cars and 483,000 trucks (including crossovers) in inventory at the end of November.
Certified Used Vehicles.
November 2008 sales for all certified GM brands, including GM Certified Used Vehicles, Cadillac Certified Pre-Owned Vehicles, Saturn Certified Pre-Owned Vehicles, Saab Certified Pre-Owned Vehicles, and HUMMER Certified Pre-Owned Vehicles, were 33,731 vehicles, down 10 percent from November 2007. Year-to-date sales are 442,182 vehicles, down 7 percent from the same period last year.
GM Certified Used Vehicles, the industry's top-selling certified brand, posted November sales of 28,607 vehicles, down more than 12 percent from November 2007. Saturn Certified Pre-Owned Vehicles sold 863 vehicles, down 16 percent. Cadillac Certified Pre-Owned Vehicles sold 3,453 vehicles, up 7 percent. Saab Certified Pre-Owned Vehicles sold 552 vehicles, up 18 percent, and HUMMER Certified Pre-Owned Vehicles sold 256 vehicles, up 95 percent.
"November sales for certified GM programs were down overall, as the growing economic uncertainty last month continued to impact consumer confidence and demand for vehicles, both new and used," said LaNeve. "We're pleased to see the Cadillac, Saab and Hummer CPO programs post solid sales gains from last November as shoppers continue to seek value and peace of mind in this challenging retail environment."
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