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4.12.2001
GM November sales up 13% - Automaker increases fourth-quarter production forecast

GM announces an increase in fourth quarter 2001 production and the impact on fourth quarter earnings guidance. GM November retail truck sales are up 42%, GM retail car sales up 7%, and total sales are up despite steep decline in rental fleet sales. Fourth quarter production estimate for GM Europe is 444,000 vehicles, an increase of 5,000 vehicles from the previous estimate.

GM dealers in the United States sold 363,721 new cars and trucks in November, spurred on by GM's successful 'Keep America Rolling' program. Despite a steep decline in rental fleet sales, robust retail sales (up 26 percent) contributed to the 13 percent year-over-year increase.

GM increased its industry truck leadership with 223,165 sales in November, putting GM on pace to have its best truck sales year in history. In November, GM retail deliveries were up seven percent. Chevrolet Impala, Malibu and Cavalier, as well as the Pontiac Grand Am remained in the top-10 best selling cars CYTD.

Production, Earnings Guidance

GM has increased its fourth-quarter 2001 forecast to 1.285 million vehicles from its most recent estimate of 1.270 million vehicles, although still down nearly 6 percent from last year's final quarter. In November, GM produced 446,000 vehicles in North America, down from 460,000 vehicles produced in November 2000.

Additionally, GM's first-quarter 2002 production forecast is 1.3 million vehicles, a 7 percent increase from the 1.214 million vehicles in the first quarter of 2001, when production was curtailed due to high inventories and moderating demand.

The following are production estimates for GM's international regions:

  • GM Europe: The fourth-quarter production estimate is 444,000 vehicles, an increase of 5,000 vehicles from the previous estimate. The first-quarter 2002 production estimate is 498,000 vehicles.
  • GM Asia Pacific: Fourth-quarter production estimate is 72,000 vehicles. First-quarter 2002 production estimate is 67,000 vehicles.
  • GM Latin America, Africa and the Middle East: Fourth-quarter production estimate is 121,000 vehicles. First-quarter 2002 production estimate is 118,000 vehicles.