GM Sales: Up 4% Up In June

GM Announces Strong June Sales

• Total June Sales Up 4 Percent
• Truck Sales Up 6 Percent
• GM Trucks And Utilities Continue To Set Industry Benchmark

DETROIT - General Motors dealers sold 458,876 new cars and trucks in June in the United States, up 4 percent over last year. GM's overall June truck sales were up 6 percent and June retail truck deliveries were up more than 9 percent as GM remains on pace to establish a new industry truck sales record. GM's overall car sales were up 3 percent as daily rental volume continued to stabilize. For the year, GM sales are down a modest 2 percent while retail truck deliveries are up 7.5 percent.

"Overall we had a strong month in June led once again by exceptional truck sales," said Bill Lovejoy, group vice president of North America Vehicle Sales, Service and Marketing. "We continue to perform well in the retail market, despite grappling with some lean inventories. Our total truck business continues on pace to set the all-time industry record and we are maintaining momentum in cars including Cavalier, Impala, Corvette and Saab models. The combination of those cars with exciting new entries like the Pontiac Vibe and Cadillac CTS, is improving our position in a very competitive passenger car market.

"Our dealers continue to do a great job of moving vehicles from the showroom into the hands of consumers and keeping our momentum strong as we head into the second half of the year," said Lovejoy.

For June, GM's industry leading truck lineup, with deliveries up 6 percent, maintained its pace to establish an all-time industry record. GM achieved overall utility vehicle leadership with an exceptional sales month (108,069), an increase of 13 percent over year-ago levels. Once again, GM achieved midsize utility leadership (54,358), an increase of 19 percent, on the strength of the Chevrolet TrailBlazer (22,974) and the GMC Envoy (10,257).

GM had another robust month in full-size utility vehicle sales (42,744 units) as the Cadillac Escalade increased 22 percent. GM small utilities, the Saturn VUE and Chevrolet Tracker, continued to gain momentum, with 10,967 sales. Complementing its exceptional strength in utilities, GM had another stellar month in full-size pickups delivering 76,654 units, an increase of 12 percent over last June.

GM car sales (up 3 percent) showed improvement in critical areas and fleet volumes continued to stabilize. Several GM cars had strong sales performances in June. Chevrolet Impala (15,655) maintained its strong sales pace, and Chevrolet Corvette and Cavalier sales increased 12 percent and 3 percent respectively over last June. Pontiac Vibe, with deliveries of 4,027 units, had strong sales once again.

GM luxury vehicle sales continued momentum in June. Cadillac luxury vehicle sales were up 19 percent and Saab sales were up 26 percent over last June. Saab maintained its sales momentum with 9-3 sales increasing 29 percent and 9-5 sales increasing 21 percent over last year. Solid sales of the new CTS (3,477 units) have contributed to Cadillac's luxury car sales increasing 10 percent over last year.

GM's industry leading certified used car program sold approximately 31,738 total certified used vehicles in June, including the Cadillac, Saturn and Saab certified brands. The GM Certified Used Vehicle brand had another stellar month, selling 28,054 units. Lovejoy commented on the growing success of GM Certified Used Vehicles, "We set out to sell 200,000 units this year and after the first six months, we are on track to shatter that goal, a tribute to our dealers and the entire VSSM organization."

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

In June, GM produced 465,000 vehicles (209,000 cars and 256,000 trucks) in North America, compared to 466,000 vehicles (211,000 cars and 255,000 trucks) produced in June 2001. (Totals include joint venture production of 9,000 vehicles in June and 10,000 vehicles in June 2001.)

In the second quarter GM produced 1.553 million vehicles (688,000 cars and 865,000 trucks) in North America, up nearly 14 percent from GM's 2001 second-quarter production when the company produced 1.364 million vehicles (638,000 cars and 726,000 trucks).

GM's current third-quarter production forecast for North America remains unchanged at 1.245 million vehicles (550,000 cars and 695,000 trucks), up 0.6 percent from third-quarter 2001 production levels of 1.238 million vehicles (573,000 cars and 665,000 trucks).

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

• GM Europe - GM's current third-quarter production forecast for its European region is 425,000 vehicles, an increase of 5,000 vehicles from last month's forecast. GM Europe produced 457,000 vehicles in the second quarter.
• GM Asia Pacific - GM's third-quarter production forecast for the region is 74,000 vehicles, an increase of 4,000 vehicles from the prior forecast. The region built 74,000 vehicles in the second quarter.
• GM Latin America, Africa and the Middle East - The company's third-quarter forecast for the region is 151,000 vehicles, a decrease of 4,000 vehicles from last month's forecast. The region built 143,000 vehicles in the second quarter.

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.