DETROIT - General Motors sold a record 2.38 million cars and trucks around the world in the third quarter of 2007, a 4 percent increase compared with last year, according to preliminary sales figures released today. GM also reported record sales outside the United States, marking the 21st consecutive quarter of year-over-year sales increases outside the U.S.
"GM's record third quarter sales were driven by exceptionally strong demand in emerging markets and our improving competitiveness in developed markets. GM global sales of 7.06 million vehicles for the first nine months of the year reflects solid results and more than 2 percent growth. We're on track to have our second-best annual sales performance in our almost 100-year history," John Middlebrook, GM vice president, Global Sales, Service and Marketing Operations, said today. "In the third quarter we experienced record sales around the globe including a 22 percent increase in Latin America, Africa and the Middle East - an all-time quarterly record for that region - and 16 percent growth in the Asia-Pacific region. We're also pleased to post a sales gain of 15 percent in Europe where we sold more than 523,600 vehicles and set a Q3 record."
Global sales highlights include:
Record third quarter 2007 global sales of 2.38 million vehicles, up 4 percent.
Record third quarter sales outside the United States, marking the 21st consecutive quarter of year-over-year sales increases. At 1.34 million vehicles, Q3 2007 sales outside of the United States accounted for about 56 percent of GM's total global sales, growing at close to 14 percent compared with Q3 2006, outpacing the industry average growth rate of 10 percent.
Record third quarter sales in the Latin America, Africa and Middle East region, up almost 22 percent to 329,400 vehicles. Record sales in Brazil were up 29 percent for the quarter. Cadillac sales were up 45 percent; Chevrolet sales were up 27 percent; Saab sales were up 17 percent and HUMMER saw a triple-digit increase in the region. For the first nine months of the year, GM LAAM region sales are up almost 20 percent, to 893,800 vehicles.
Record third quarter sales in the Asia-Pacific region of 327,500 vehicles were 16 percent higher than the previous year's third quarter. Sales by GM China (including sales by SAIC-GM-Wuling) of 230,000 vehicles posted a more than 21 percent sales increase compared with 2006. GM is on pace to become the first group to sell 1 million vehicles a year in China. Cadillac sales were up 122 percent; Chevrolet sales were up 46 percent; and Saab sales were up 12 percent in the region. For the first nine months of the year, GM Asia-Pacific region sales are up more than 14 percent to 1.05 million vehicles.
GM posted record third quarter sales in Europe with deliveries of 523,600 vehicles, up 15 percent. GM had the highest quarterly volume increase of the top-ten manufacturers in Europe. Growth in Russia led the increase with a record 65,700 vehicles sold, up 75 percent. GM's growth in Russia is also supported by the start of Opel Antara production in St. Petersburg. GM is on track to sell more than 200,000 vehicles in Russia this year. Chevrolet achieved record European sales of 113,000 vehicles, up 28 percent. Opel/Vauxhall grew volume more than 12 percent in Europe. Cadillac sales were up 61 percent and HUMMER sales were up 28 percent in the region. For the first nine months of the year, GM Europe regional sales are up more than 8 percent to 1.65 million vehicles.
In North America, planned reductions in daily rental sales and softness in the U.S. market due to increasing fuel prices and concerns about housing, resulted in sales of 1.20 million vehicles, a decline of 6 percent compared with last year. Despite a competitive U.S. market for full-size pickups, GM continued to show pickup truck segment leadership in the quarter thanks to the North America Truck of the Year Chevrolet Silverado and all-new GMC Sierra. GM's mid-car and mid-utility crossover segments also saw retail sales gains on the strength of mid-cars Saturn Aura, Pontiac G6 and Chevrolet Impala, and mid-utility crossovers GMC Acadia, Saturn Outlook and Buick Enclave. The newly-launched 2008 Chevrolet Malibu is building momentum as dealer demand is taxing available supply.
Chevrolet global sales of 1.18 million vehicles in the third quarter of 2007 were up more than 5 percent compared with a year ago. The brand grew by 46 percent in Asia-Pacific, 28 percent in Europe and 27 percent in Latin America, Africa and the Middle East.
GMC sales in North America were up 8 percent in Q3, largely due to the popularity of the Acadia mid-utility crossover and all-new Sierra full-size pickup truck. Saturn sales for the first nine months of the year were up more than 13 percent due to the sales performance of three new vehicles, the Sky roadster, Aura mid-car and Outlook mid-utility crossover vehicle.
Note: Global sales results are based on preliminary numbers reported and have been rounded.
I'm a GM fanboy - I need to get that out of the way before I start.
How does a company that can sell so MANY cars, do so poorly? I am contunually astonished at how much "trouble" GM is in, when it's selling so much.
I am very glad to see this news, as I would hate for the General to go down, and I am ANXIOUSLY awaiting the arrival of the 2009 Camaro.
'06 Lotus Elise, '07 Saturn Sky Redline
Well, part of it is that GM is profitable in other markets; part of it is that GM is suffering under a crippling load of pension/health care liabilities that add roughly $1,500 to the bottom line cost of every vehicle GM makes.Originally Posted by damen
Also, GM screwed up badly during the late 1980s and through the '90s - allowing the imports to eat its lunch. A good example is the way the import Japanese brands built up their luxo brands almost overnight - with no real response from GM until rather recently. That was inexcusable. Equally inexcusable - GM failed to build a Honda/Toyota-competitive small car until it finally retired the obsolescent Cavalier and introduced the Cobalt. This should have happened 10 years ago; not two years ago.
Etc.
I'm not sure that I agree.
Not about the past blunders, mind you. They were definitely hugely slow to respond the the overseas threats. And I agree about the issues with UAW.
But I'm not sure that the way for them to recover is to do what Toyota/Honda do.
Yeah, they sell a lot of cars. But they sell a lot of BORING cars. Toyota, in particular.
I dont think the way for GM to regain lost ground is by following in those footsteps. Sure, they're fuel efficient, but there's no passion there.
I think excitement is the key. I also think GM has figured this out. Look at the Sky/Solstice. That's a decent start (I have some design complaints with those, but that's another matter). Look at the new Camaro. Look at the incredibly gorgeous new Corvettes.
Now, the trick is lining up fuel economy and reliability with performance. This is hard to do, but its not impossible. Direct Injected Turbos are the key. High-performing 4 cylinders are key. Dont lose the big V8 - that's what makes GM special. But learn how to make the 4-bangers not suck.
Anyway, that's just my little GM rant.
'06 Lotus Elise, '07 Saturn Sky Redline
"Yeah, they sell a lot of cars. But they sell a lot of BORING cars. Toyota, in particular."
I don't think it's so much that Toyotas are boring as they were (and still are) good values; well-built (and in past years, significantly better-built than GM, Ford vehicles) and generally more sophisticated in terms of their features/design. Toyota gets away with "boring" because its cars are so "blue chip." I'm not saying I like Toyotas; I am saying many millions of buyers clearly do - and that, ultimately is the bottom line.
GM has a huge job ahead of it convincing people it burned in the past - and who "went Toyota" (and Honda, etc.) - to give GM another shot.
"I dont think the way for GM to regain lost ground is by following in those footsteps. Sure, they're fuel efficient, but there's no passion there."
I agree; passion is important; but market realities may be different than they were in past years. Cars are much more like appliances today than they were in the '60s and '70s. That said, the current crop of GM vehicles is very impressive - esp. the Saturn Sky, GMCAcadia/Buick Envoy, Chevy Corvette and Malibu. Cadillac has also really turned itself around. I just hope it's not too late.
It may be.
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