Record Truck Sales Lead GM To Another Strong Sales Month

• GM Total Sales Up Slightly Over Year Ago Levels
• GM Sets All-Time Industry February Truck Sales Record
• Retail Sales Up 8 Percent Over Last Year
• Truck Sales Up 22 percent - Retail Truck Sales Up 27 Percent
• Midsize Utilities Up 69 Percent Over Last Year

DETROIT-- General Motors dealers sold 411,111 new cars and trucks in February in the United States, up slightly over last year. GM's retail sales were up 8 percent over year ago levels due to a 27 percent increase in retail truck sales. GM car sales were down 19 percent with a portion of the decline being attributable to a 29 percent reduction in fleet volume.

"Our sales were exceptional in February, exceeding our expectations despite a large reduction in daily rental fleet volume," said Bill Lovejoy, group vice president of North America Vehicle Sales, Service and Marketing. "Our retail sales through February have exceeded year ago levels, our inventories are in excellent shape and we continue to stabilize share. Our momentum is being driven by our gains on the truck side of the business and GM is running at an all-time industry record sales rate through February."

Lovejoy continued, "The 'GM Overdrive' marketing campaign drove consumers into showrooms as evidenced by our February sales performance. Combined with the outstanding sales efforts of our dealers, we are well positioned to build on the momentum we achieved in 2001."

For February, GM's industry leading truck lineup maintained its brisk growth with deliveries up 22 percentandset an all-time industry record for February truck sales (239,101). GM achieved midsize utility leadership with exceptional sales of the Chevrolet TrailBlazer (22,189) and the GMC Envoy (8,604). GM's combined mid-utility sales were 50,840 units, an increase of 69 percent over last February.

Once again, GM continued its leadership in the full-size pickup market (90,506 units - up 26 percent)and also maintained its leadership in full-size utilities with sales up 14 percent (41,804 units). The new Cadillac EXT continued to increase its monthly sales and the all-new Saturn VUE achieved better than expected sales in February helping to strengthen GM's position in the small utility segment.

GM car sales were down 19 percent in February due in part to a 29 percent reduction in fleet volume. However, several GM cars had strong sales performances in February. Chevrolet Corvette continued its strong selling pace with 3,354 deliveries, an increase of 21 percent. Chevrolet Impala maintained its impressive sales (19,553), up 6 percent over last February. Pontiac Grand Prix increased 2 percent over last year and SAAB 9-3 increased 32 percent.

With all-new vehicles Cadillac CTS and Escalade EXT, Saturn VUE and Pontiac Vibe currently arriving in dealerships and slated for full production within the next several months, GM is expecting to build momentum in calendar year '02 in the luxury and entry level markets.

Once again GM gained momentum in the used car market, achieving approximately 21,500 total used certified vehicle sales for February, including the Cadillac, Saturn and SAAB certified brands. The GM Certified Used Vehicle brand had another stellar month, selling 18,028 units. Lovejoy commented on the success of GM's certified used vehicle programs. "We are continuing our pursuit to be the segment leader in Certified Used Vehicles. We have the strength and support of our dealer network and we fully expect to achieve this goal."

In February, GM produced 463,000 vehicles (215,000 cars and 248,000 trucks) in North America, up 25 percent from 370,000 vehicles (172,000 cars and 198,000 trucks) produced in February 2001. (Totals include joint venture production of 8,000 vehicles in February and 8,000 vehicles in February 2001.)

As a result of the stronger industry sales outlook and GM's performance in the retail market, GM’s first-quarter production forecast, as announced on Feb. 25, will be 1.34 million vehicles (591,000 cars and 749,000 trucks). The previous estimate was 1.32 million vehicles (585,000 cars and 735,000 trucks). In the first quarter of 2001, GM produced 1.214 million vehicles (581,000 cars and 633,000 trucks).

GM’s second-quarter production forecast, also announced on Feb. 25, is 1.425 million vehicles (605,000 cars and 820,000 trucks). In the second quarter of 2001, GM produced 1.364 million vehicles (638,000 cars and 726,000 trucks).

GM also announced the following production forecast information for its international regions:

• GM Europe - First-quarter production is 459,000 vehicles, a reduction of 1,000 vehicles from the previous estimate. The second-quarter production forecast is 463,000 vehicles.
• GM Asia Pacific – First-quarter production is 61,000 vehicles, an increase of 2,000 vehicles from the previous estimate. The second-quarter production forecast is 66,000 vehicles.
• GM Latin America, Africa and the Middle East – First-quarter production is 135,000 vehicles, a reduction of 3,000 vehicles from the previous estimate. The second-quarter production forecast is 147,000 vehicles.

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

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.