GM Reports January Sales of 293,086, Down 2 Percent

February 3, 2003

Cadillac Continues Resurgence With 23 Percent Increase
GM Announces January Production Results, Q1 Production Forecast Unchanged

Detroit - General Motors Corp. dealers sold 293,086 new cars and trucks in January in the United States, a 2 percent decrease versus January 2002. GM's overall car sales (144,475) were up 24 percent, while truck sales (148,611) declined 19 percent.

"Considering GM's very strong performance in December, our January results were in line with our expectations," said John Smith, group vice president of North America Vehicle Sales, Service and Marketing. "However, with our industry leading lineup of trucks, a revitalized Cadillac division, and exciting new products coming into showrooms this year, we're confident that we will continue the market leadership we've established in key segments of the business."

GM Truck Sales
GM truck sales (148,611) declined 19 percent in January, due in part to record December sales and some constrained inventories. Total January utility vehicle sales for GM (67,496) decreased 15 percent from last year. GM's midsize utility sales for the month were 35,174, a decrease of 8 percent, and full-size utility sales (25,844) declined 27 percent.

GM Car Sales
GM car sales (144,475) were up 24 percent over last January. Cadillac, Pontiac and Saturn cars posted solid retail gains over last January of 43 percent, 10 percent and 21 percent respectively. GM's low partition cars posted a 17 percent gain over last year on the strength of Chevrolet Cavalier (16,992), Pontiac Vibe (5,070) and the new Saturn ION (5,386). Other GM cars which had solid sales in January include the Saab 9-3 (up 73 percent), Saab 9-5 (up 42 percent), and the Chevrolet Impala (up 31 percent).

Certified Used Vehicles
GM's industry-leading certified car program sold approximately 37,875 total certified used vehicles in January, including the Cadillac, Saturn and Saab certified brands. The GM Certified Used Vehicle brand alone posted another solid month, selling 32,117 units. "Thanks to the efforts of GM dealers, GMAC and the entire VSSM organization, GM became the industry leader in certified used vehicles in 2002," said Smith. "We fully expect to build on that success and continue to grow the certified used business in 2003."

GM Announces January Production Results, Q1 2003 Production Forecast Unchanged

In January, GM produced 484,000 vehicles (216,000 cars and 268,000 trucks) in North America, compared to 409,000 vehicles (179,000 cars and 230,000 trucks) produced in January 2002. (Production totals include joint venture production of 15,000 vehicles in January 2003 and 5,000 vehicles in January 2002.)

In addition, GM's 2003 first-quarter production forecast for North America remains unchanged at 1.43 million units (584,000 cars and 846,000 trucks). In the first quarter of 2002, GM North America produced 1.353 million vehicles (600,000 cars, 753,000 trucks).

GM also announced current production forecasts for the first quarter of 2003 for its international regions:

GM Europe -The region's current first-quarter production forecast is 496,000 units, up 6,000 vehicles from last month's forecast.
GM Asia Pacific - GM Asia Pacific's current first-quarter forecast remains unchanged at 72,000 vehicles.
GM Latin America, Africa and the Middle East - The region's current first-quarter production forecast is 127,000 units, down11,000 units from last month's guidance.