GM Continues to Build Momentum in Truck Sales: SUVs on Pace to Set All-Time Industry Record

FOR RELEASE: August 1, 2001

GM Continues to Build Momentum in Truck Sales: SUVs on Pace to Set All-Time Industry Record

GM Announces July Production Results and Third Quarter Forecast

  • Industry on Pace for Third-Best All-Time Sales
  • GM Truck Sales Up 2%; Passenger Cars Down 19%
  • Overall July Sales Down 9%

DETROIT - General Motors dealers sold 360,881 new cars and trucks in July in the United States, a 9 percent decline from July 2000.

"As expected industry sales continued to moderate in July especially when compared with last year's record results but the market is on track for the industry's third-best sales year," said Bill Lovejoy, group vice president of North America Vehicle Sales, Service and Marketing. "GM's industry leading lineup of truck brands continued to build momentum in an intensely competitive market where product quality, improved productivity and outstanding efforts by our dealers to satisfy customers are keys to our success. However, GM sales in July were negatively impacted by lower passenger car stocks in dealer inventories."

GM Sales Highlights
GM continued to gain momentum in truck sales led by midsize utilities, full-size utilities and full-size pickups. The strongest results in July came once again from sport utility vehicle (SUV) sales, putting GM on pace to set an all-time industry SUV calendar year sales record. GM's total utility sales of 74,319 and medium utility sales of 32,766 are both records for July. GM's full-size utilities and full-size pickups continued to post impressive sales numbers, 37,548 and 67,313 respectively. Cadillac Escalade had another strong month helping GM again lead the industry in full-size utilities. GM's all-new midsize SUV lineup, the Chevrolet TrailBlazer, GMC Envoy and Oldsmobile Bravada all saw sales build significantly in July.

As the second half continues to unfold, GM expects to accelerate its strong truck sales performance as new and innovative entries Buick Rendezvous, Chevrolet Avalanche and Cadillac Escalade increase in availability.

July Sales Records

Best July Ever

  • Chevrolet Impala
  • Saab 9-5
  • GM Utilities
  • GM Midsize Utilities
  • Chevrolet Tahoe
  • Chevrolet Trucks
  • GMC Yukon and Yukon XL
  • GMC Utilities

CYTD Records

  • Chevrolet Impala
  • Oldsmobile Aurora
  • GM Utilities
  • Chevrolet Utilities
  • GMC Utilities
  • Chevrolet Tracker
  • GM Midsize Utilities
  • GM Full-Size Utilities
  • Chevrolet Suburban
  • Chevrolet Tahoe
  • GMC Yukon
  • GMC Yukon XL

GM Announces July and 3rd-Quarter 2001 Estimate
In July, GM produced 281,000 vehicles (127,000 cars and 154,000 trucks) in North America, up from 259,000 vehicles (139,000 cars and 120,000 trucks) produced in July 2000. (Production totals include joint venture production of 5,500 vehicles in July 2001 and 8,000 vehicles in July 2000.)

GM announced that the third-quarter production estimate will be revised down to 1.230 million vehicles (567,000 cars and 663,000 trucks) from 1.235 million vehicles (572,000 cars and 663,000 trucks). Third-quarter production represents a 6.7 percent decline from the 1.319 million vehicles (689,000 cars and 630,000 trucks) GM produced in the third quarter of 2000.

The forecast change was caused by an overbuild of vehicles in the second quarter and the slowing of the market in July.

GM also announced the following production estimates for its international regions:

  • GM Europe - The third-quarter estimate is 387,000, up from the previous estimate of 385,000 vehicles.
  • GM Asia Pacific - The third-quarter estimate is 81,000 vehicles, up from the previous estimate of 77,000.
  • GM Latin America, Africa and the Middle East - The third-quarter estimate is 157,000 vehicles, down from the previous estimate of 166,000.

Note: GM sales and production results are available on GM Media Online at http://media.gm.com by clicking on the Sales/Production icon.

In this press release and related comments by General Motors management, our use of the words "expect," "anticipate," "estimate," forecast," "objective," "plan," "goal" and similar expressions is intended to identify forward looking statements. While these statements represent our current judgement on what the future may hold, and we believe these judgements are reasonable, actual results may differ materially due to numerous important factors that are described in GM's most recent report on SEC Form 10-K (at page II-20) which may be revised or supplemented in subsequent reports on SEC Forms 10-Q and 8-K. Such factors include, among others, the following: changes in economic conditions, currency exchange rates or political stability; shortages of fuel, labor strikes or work stoppages; market acceptance of the corporation's new products; significant changes in the competitive environment; changes in laws, regulations and tax rates; and, the ability of the corporation to achieve reductions in cost and employment levels to realize production efficiencies and implement capital expenditures at levels and times planned by management.

# # #

Curr S/D: 25
Prev S/D: 25

July

Calendar Year-to-Date
January - July

2001

2000

% Chg
per S/D

2001

2000

% Chg

Vehicle Total

360,881

397,187

-9.1

2,831,920

3,035,364

-6.7

Car Total

171,230

211,134

-18.9

1,384,122

1,550,301

-10.7

Truck Total

189,651

186,053

1.9

1,447,798

1,485,063

-2.5

Light Truck Total

187,357

183,334

2.2

1,422,344

1,458,599

-2.5

Light Vehicle Total

358,587

394,468

-9.1

2,806,466

3,008,900

-6.7

Market Division Vehicle Total

Buick

35,529

28,512

24.6

217,045

242,058

-10.3

Cadillac

14,868

14,439

3.0

94,256

112,178

-16.0

Chevrolet

189,550

214,322

-11.6

1,536,675

1,611,144

-4.6

GMC

37,939

39,602

-4.2

306,563

328,623

-6.7

Hummer

58

71

-18.3

479

596

-19.6

Oldsmobile

17,198

21,755

-20.9

153,483

179,424

-14.5

Other - Isuzu

771

0

***.*

9,343

0

***.*

Pontiac

46,228

50,685

-8.8

327,626

370,864

-11.7

Saab

3,364

3,855

-12.7

20,116

21,380

-5.9

Saturn

15,376

23,946

-35.8

166,334

169,097

-1.6

Sales of Domestically Produced Vehicles

Car

166,666

205,009

-18.7

1,356,558

1,517,736

-10.6

Light Truck

187,357

183,334

2.2

1,422,344

1,458,599

-2.5

Twenty-five selling days for the July period this year and twenty-five for last year.

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