GM February 2012 Sales Up 1.1%, 209,306 Units Sold

[FenwickHockey65]

GM February Sales Beat Expectations
Small and Compact Car Sales up 43 percent
General Motors

March 1, 2012

DETROIT – General Motors Co. (NYSE: GM) today reported total sales of 209,306 vehicles in February, up 1.1 percent compared with the company’s very strong February 2011 results.

“Chevrolet’s 6 percent sales increase, which was driven by new models, as well as a stronger economy, helped GM exceed last February’s remarkably strong result,” said Don Johnson, vice president, U.S. Sales Operations. “It’s an affirmation of our progress. We are continuing to execute the same disciplined sales strategy that was the key to our success in 2011.”

Industrywide, February light vehicle sales will top 1.1 million units, thanks to stronger employment and credit availability, an improving housing market and the recovery in consumer sentiment, he added.

“Commercial sales are a good barometer for the economy,” Johnson said. “GM’s commercial deliveries increased 35 percent in February, driven by strong sales of heavy-duty pickups.”

Year-over-year sales of the Chevrolet Silverado HD and GMC Sierra HD were up 28 percent and 20 percent, respectively. Other sales highlights for February include double-digit sales increases for the Buick LaCrosse, which features the 36-mpg eAssist powertrain as standard equipment, the Chevrolet Equinox and Camaro, and the GMC Terrain.

Chevrolet passenger car sales were up 13 percent. The all-new Chevrolet Sonic had its best month ever, with sales of 7,900 units. Chevrolet Cruze exceeded 20,000 units for the sixth time, marking its sixth-consecutive month of year-over-year sales gains. GM’s small and compact car portfolio, which now includes the Chevrolet Sonic, Cruze and Volt, and the new Buick Verano, were up a combined 43 percent versus February 2011.

GM’s year-over-year incentive spending, expressed as a percentage of average transaction prices, was down 3.5 percentage points to 9.5 percent in February, according to J.D. Power PIN estimates. Incentive spending was down about one-half point from January.

[FenwickHockey65]

Competition...

Ford Motor Company: Up 14%, 179,119 units sold
Chrysler Group LLC: Up 40%, 133,521 units sold
Volkswagen: Up 43%, 30,577 units sold

[DGthe3]

why is GM performing so far below the industry average? A month or even two months and its easy to say that its just how things randomly play out. But this looks like its a pretty clear trend.

[derklug]

Originally Posted by DGthe3

why is GM performing so far below the industry average?

GM's 2011 February sales were way up due to big incentives. Makes this year look bad, but it got these sales without the incentive packages.

[FenwickHockey65]

And ATP went up this month as well in addition to low incentives.

[DGthe3]

Originally Posted by FenwickHockey65

And ATP went up this month as well in addition to low incentives.

Adenosine Tri-phosphate? What does that have to do with selling cars?

[FenwickHockey65]

Average transaction price.

[ffrcobra_65]

these #s don't matter until the stock price at least gets to where it opened last year so I can start bleeding a little less $. Right this minute, GM stock is $26.52. :(

[Zabo]

Meanwhile GM just shut down Volt production..

[chain777]

Originally Posted by Zabo

Meanwhile GM just shut down Volt production..

So I guess the rumors about the volt production issues being the reason the sales were so low were just that, rumors. Nobody's buying them, that's the reason the sales are so low. Even with the government subsidies, nobody wants them.

It seems the only people daft enough to buy one have more dollars then sense, because they make no economic sense. How many billions did GM spend on this technological experiment again? Their stock will never recover if they keep spending money on projects like this.

Sorry if this sounds harsh, but I sensed this was going to be a fail from the beginning. I don't want to see GM go down the same roads that led them to bankruptcy, and IMO the volt project is one sure way of repeating history.

[ffrcobra_65]

I'm sure BMD can explain all this

[FenwickHockey65]

Originally Posted by chain777

So I guess the rumors about the volt production issues being the reason the sales were so low were just that, rumors. Nobody's buying them, that's the reason the sales are so low. Even with the government subsidies, nobody wants them.

It seems the only people daft enough to buy one have more dollars then sense, because they make no economic sense. How many billions did GM spend on this technological experiment again? Their stock will never recover if they keep spending money on projects like this.

Sorry if this sounds harsh, but I sensed this was going to be a fail from the beginning. I don't want to see GM go down the same roads that led them to bankruptcy, and IMO the volt project is one sure way of repeating history.

Volt sales are actually UP.

[Stew]

Originally Posted by FenwickHockey65

Volt sales are actually UP.

For one month and they are now selling nationwide, sales are still dismal to say the least.