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8-K - 8-K - General Motors Coa2014q3globalsales8-k.htm


Exhibit 99.1
For Immediate Release: Oct. 15, 2014
GM Delivers its Best Third Quarter Global Sales Since 1980
Chevrolet up 9 percent in North America
Cadillac up 63 percent in China
Buick global sales up 7 percent
DETROIT - General Motors Co. (NYSE: GM) sold 2,449,595 vehicles around the world in the third quarter of 2014, up 2 percent compared with a year ago. It was the company’s best third quarter since 1980. In the first nine months of 2014, GM sold 7,371,743 vehicles, up 2 percent.
Third quarter sales in the United States and China, the company’s two largest markets, were up 8 percent and 14 percent, respectively. Year to date, sales in the United States and China were up 4 percent and 12 percent, respectively.

GM is on track to surpass sales of 3 million vehicles in China for the second consecutive year and the company expects to top last year’s record sales of 3.16 million vehicles. During September, GM’s cumulative sales in China surpassed 20 million vehicles.

“GM delivered its best third quarter global sales in 34 years thanks to solid growth in the United States and China, and steady improvement in Opel’s market share,” said GM CEO Mary Barra. “We have launches now underway, including the Chevrolet Colorado and GMC Canyon in North America, the Opel/Vauxhall Corsa in Europe, and the Buick Envision and Cadillac ATS-L in China, that will keep our momentum going.”

Highlights (vs. 2013)
Chevrolet had record sales in China in the third quarter, up 13 percent to 169,830 units. For the first nine months of year, the brand is up 7 percent to a record 505,316 units. September was Chevrolet’s best month ever in China.
Calendar year to date, Chevrolet sales in South Korea are at record levels.
The success of the new Chevrolet Silverado and GMC Sierra helped GM increase its estimated share of the U.S. retail market for large pickups from 35.8 percent in the first quarter of 2014 to 37.4 percent in the second quarter and 37.9 percent in the third quarter.
Buick’s global sales were up 7 percent in the third quarter to 284,540 units and they are up 11 percent calendar year to date to 858,046 units, driven by strong growth in the United States and China. Buick’s China sales were up 8 percent in the quarter to 220,578 units and they were up 11 percent to 670,999 units in the first nine months of the year.
In China, combined, sales of small SUVs - the Buick Encore, Chevrolet Trax and Captiva - were up 90 percent in the third quarter. In the United States, the Buick Encore has been the best-selling vehicle in its segment for six months in a row. The Chevrolet Trax will launch in the United States in early 2015.
Cadillac’s global sales were up 4 percent in the third quarter and they are up 9 percent year to date, driven by strong growth in China. Cadillac’s China sales were up 48 percent in the quarter to 18,665 units and they were up 63 percent to 52,425 units in the first nine months of the year.
Opel/Vauxhall gained market share in 11 European countries in the first nine months of this year, including Germany, where the brand earned 7 percent of the market, up 0.3 points.

General Motors Co. (NYSE:GM, TSX: GMM) and its partners produce vehicles in 30 countries, and the company has leadership positions in the world's largest and fastest-growing automotive markets. GM, its subsidiaries and joint venture entities sell vehicles under the





Chevrolet, Cadillac, Baojun, Buick, GMC, Holden, Jiefang, Opel, Vauxhall and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in vehicle safety, security and information services, can be found at http://www.gm.com.

# # #
CONTACT:
Jim Cain
GM Communications
313-407-2843
james.cain@gm.com

Forward-Looking Statements    
In this press release and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar expressions is intended to identify forward-looking statements that represent our current judgment about possible future events. We believe these judgments are reasonable, but these statements are not guarantees of any events or financial results, and our actual results may differ materially due to a variety of important factors. Among other items, such factors might include: our ability to realize production efficiencies and to achieve reductions in costs as a result of our restructuring initiatives and labor modifications; our ability to maintain quality control over our vehicles and avoid material vehicle recalls; our ability to maintain adequate liquidity and financing sources and an appropriate level of debt, including as required to fund our planned significant investment in new technology; the ability of our suppliers to timely deliver parts, components and systems; our ability to realize successful vehicle applications of new technology; and our ability to continue to attract new customers, particularly for our new products. GM's most recent annual report on Form 10-K and quarterly reports on Form 10-Q provides information about these and other factors, which we may revise or supplement in future reports to the SEC.






 
Q3 '14
 
2014 Calendar Year-to-Date
 
Region
Total Sales
YOY Change
Pct Change
 
Total Sales
YOY Change
Pct Change
 
GM North America
884,435
76,529
9.5%
 
2,558,869
109,424
4.5%
 
GM Europe
284,479
(59,184)
(17.2)%
 
958,047
(100,057)
(9.5)%
 
GM South America
216,942
(55,579)
(20.4)%
 
642,216
(127,506)
(16.6)%
 
GM International
213,891
(13,857)
(6.1)%
 
631,481
(29,594)
(4.5)%
 
GM Greater China
849,848
104,822
14.1%
 
2,581,130
268,712
11.6%
 
Total
2,449,595
52,731
2.2%
 
7,371,743
120,979
1.7%
 
 
 
 
 
 
 
 
 
 
 
Q3 '14
 
2014 Calendar Year-to-Date
 
Top Five Markets
Total Sales
YOY Change
Pct Change
 
Total Sales
YOY Change
Pct Change
 
China
849,848
104,822
14.1%
 
2,581,130
268,712
11.6%
 
United States
752,020
54,907
7.9%
 
2,207,888
90,429
4.3%
 
Brazil
138,798
(32,033)
(18.8)%
 
418,026
(58,298)
(12.2)%
 
United Kingdom
75,426
(2,387)
(3.1)%
 
235,720
3,320
1.4%
 
Canada
70,639
12,114
20.7%
 
189,287
9,364
5.2%
 
 
 
 
 
 
 
 
 
 
 
Q3 '14
 
2014 Calendar Year-to-Date
 
Sales by Brand
Total Sales
YOY Change
Pct Change
 
Total Sales
YOY Change
Pct Change
 
Chevrolet
1,189,897
(58,048)
(4.7)%
 
3,559,412
(187,590)
(5.0)%
 
Opel/Vauxhall
257,926
3,629
1.4%
 
832,189
24,170
3.0%
 
Buick
284,540
18,576
7.0%
 
858,046
81,540
10.5%
 
Cadillac
69,608
2,705
4.0%
 
194,614
15,742
8.8%
 
All Others
647,624
85,869
15.3%
 
1,927,482
187,117
10.8%
 
 
 
 
 
 
 
 
 
 
Notes:
 
 
 
 
 
 
 
 
GM North America = United States, Canada, Mexico, and other North American markets
 
GM Europe = Western, Central and Eastern Europe
 
GM International = Asia-Pacific, Africa and the Middle East*
 
GM China = China
 
*Cuba, Iran, North Korea, Syria and Sudan are excluded from sales volume calculations.