GM Continues Strong Retail Momentum in March

FOR RELEASE: April 2, 2002

GM Continues Strong Retail Momentum in March

GM Announces March and First-Quarter Production Results, Revises Second-Quarter Schedule

• March Retail Sales Up 6 Percent, First Qtr Retail Up 3.5 Percent
• March Total Sales Down 2 Percent From Year Ago Levels
• Truck Sales Up 8 percent, Retail Truck Sales Up 12 Percent
• GM Utility Sales Continue On Record Pace, Up 23 percent

DETROIT - General Motors dealers sold 419,410 new cars and trucks in March in the United States, down slightly over last year. GM's retail sales were up 6 percent over year ago levels due to a 12 percent increase in retail truck sales and first quarter retail sales were up 3.5 percent. GM car sales were down 12 percent with a majority of the decline being attributable to a 34 percent reduction in fleet volume.

"Our retail sales were strong again in March and we exceeded our expectations despite another substantial reduction in daily rental fleet volume," said Bill Lovejoy, group vice president of North America Vehicle Sales, Service and Marketing. "We continue to exceed our year ago retail levels, our share continues to stabilize and our inventories remain lean. The truck side of our business continues to run at an all-time industry record sales rate and with the ongoing success of key products like the Chevy Impala and the excitement around the all-new Pontiac Vibe and Cadillac CTS, our car lineup is also gaining momentum in the marketplace."

Lovejoy continued, "Combined with the outstanding sales efforts of our dealers we are firmly positioned to maintain our momentum and shift into overdrive.

GM Truck Sales
For March, GM's industry leading truck lineup maintained its brisk growth with deliveries up 8 percent. GM's combined midsize utility sales (51,402) increased 52 percent over year ago levels and was the second best month in industry history. Once again, GM achieved midsize utility leadership on the strength of exceptional sales of the Chevrolet TrailBlazer (19,053) and the GMC Envoy (8,013).

Additionally, GM continued its leadership again in full-size utilities selling 42,038 units and had another solid month in full-size pickups delivering 77,440 units. The all-new Saturn VUE, combined with the Chevy Tracker, contributed to GM's first month above 9,000 small utility sales (9,070), strengthening GM's position in the segment. For the month of March, GM delivered more than 100,000 utilities, the third best month by any manufacturer.

GM Car Sales
GM car sales were down 12 percent in February due in part to a 34 percent reduction in fleet volume, retail sales were down slightly (-2 percent). Several GM cars had strong sales performances in March. Pontiac retail sales were up 20 percent on the strength of Grand Am and Grand Prix, which increased 26 percent and 20 percent respectively. Chevrolet Malibu retail sales were up 26 percent and Chevrolet Impala maintained its impressive sales with 16,923 deliveries. Cadillac's all-new CTS sold 3,145 units in March and the SAAB 9-3 and 9-5 increased 86 percent and 14 percent respectively.

Certified Used Sales
GM momentum in the certified used car market continued to build, achieving approximately 25,700 total certified used vehicle sales for March, including the Cadillac, Saturn and SAAB certified brands. The GM Certified Used Vehicle brand had another record month, selling 22,448 units. Lovejoy commented on the success of GM's certified used vehicle programs. "With tremendous support from our dealers, this program is really taking off as we pursue segment leadership in Certified Used Vehicles."

Click here to view the General Motors Corporation March 2002 Sales and Production data

GM Announces March and First-Quarter Production Results, Revises Second-Quarter Schedule
In March, GM produced 481,000 vehicles (206,000 cars and 275,000 trucks) in North America, up more than 4 percent from 461,000 vehicles (218,000 cars and 243,000 trucks) produced in March 2001. (Totals include joint venture production of 10,000 vehicles in March and 10,000 vehicles in March 2001.)

In the first quarter, GM produced 1.353 million vehicles (600,000 cars and 753,000 trucks) in North America, up more than 11 percent from 1.214 million vehicles (581,000 cars and 633,000 trucks) produced in the first quarter of 2001.

GM’s second-quarter production forecast is 1.48 million vehicles (652,000 cars and 828,000 trucks), nearly 4 percent higher than the previous estimate of 1.425 million vehicles (605,000 cars and 820,000 trucks). The second-quarter increase – most of it in cars – is due to stronger-than-expected consumer demand and a moderate recovery in daily rental deliveries. The new forecast also is 8.5 percent higher than the second quarter of 2001 when 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 – The second-quarter production forecast is 475,000 vehicles, an increase of 12,000 vehicles.
• GM Asia Pacific – The second-quarter production forecast is 67,000 vehicles, an increase of 1,000 vehicles.
• GM Latin America, Africa and the Middle East – The second-quarter production forecast is 149,000 vehicles, an increase of 2,000 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.

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Curr S/D: 27 Prev S/D: 28	March			Calendar Year-to-Date January - March
	2002	2001	% Chg per S/D	2002	2001	% Chg
Vehicle Total	419,410	442,573	-1.7	1,130,155	1,195,635	-5.5
Car Total	181,181	213,310	-11.9	469,824	603,623	-22.2
Truck Total	238,229	229,263	7.8	660,331	592,012	11.5
Light Truck Total	235,078	224,521	8.6	652,078	581,547	12.1
Light Vehicle Total	416,259	437,831	-1.4	1,121,902	1,185,170	-5.3
Market Division Vehicle Total
Buick	29,135	29,086	3.9	82,730	86,170	-4.0
Cadillac	14,968	13,113	18.4	39,763	38,205	4.1
Chevrolet	232,665	244,743	-1.4	649,601	653,980	-0.7
GMC	44,205	49,388	-7.2	127,125	124,702	1.9
HUMMER	37	58	-33.8	127	227	-44.1
Oldsmobile	16,008	24,668	-32.7	42,871	76,554	-44.0
Other - Isuzu	1,422	1,855	-20.5	3,117	3,990	-21.9
Pontiac	50,299	52,096	0.1	118,245	137,737	-14.2
Saab	4,864	3,175	58.9	9,138	7,837	16.6
Saturn	25,807	24,391	9.7	57,438	66,233	-13.3
Sales of Domestically Produced Vehicles
Car	176,283	209,470	-12.7	460,538	593,758	-22.4
Light Truck	235,078	224,521	8.6	652,078	581,547	12.1
Twenty-seven selling days for the March period this year and twenty-eight for last year.
* American Isuzu Motors, Inc., dealer sales of commercial vehicles distributed by General Motors Corporation as reported to General Motors by American Isuzu Motors, Inc.