GM sales down 11% for August

GM sales down 11% for August

POSTED: Wednesday, September 1, 2010 - 9:31am

UPDATED: Wednesday, September 1, 2010 - 8:05pm

GM Press Release...


DETROIT – August sales for Chevrolet, Buick, GMC and Cadillac decreased by a combined 11 percent to 184,921 units, compared to last August, a month in which the automotive industry experienced the highest level of sales in 2009 due to the Cash for Clunkers stimulus program. Compared to July 2010, sales for GM’s brands were down 7 percent.

Through August, Buick remained the industry’s fastest-growing brand with sales up 61 percent year to date. Cadillac leads the luxury vehicle industry in sales growth this year, with sales 50 percent higher through August.

“Last year’s Cash for Clunkers program spiked industry sales in 2009, so results this August were, not surprisingly, a bit mixed,” said Don Johnson, vice president, U.S. Sales Operations. “Importantly, three of our four divisions showed solid gains. This is further evidence that our performance is the result of balanced contributions across our brands.”

Combined sales for Buick, GMC and Cadillac were up 37 percent for the month, compared to a year ago. Buick sales increased 66 percent, propelled by retail sales that more than doubled during the month. Cadillac dealers reported sales that were 83 percent higher than last year, and the brand’s retail sales also rose 83 percent. GMC total sales were up 12 percent during the month, driven by strong retail sales. Chevrolet, which benefited the most from last year’s federal stimulus, had a total sales decline of 22 percent compared to last year, while retail sales were down 31 percent.

Total sales of GM’s full-size pickups rose 4 percent during the month, while its full-size utilities increased 7 percent on strong retail sales growth.

Johnson noted that key product launches for the remainder of this year will continue the company’s momentum.

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If I could clarify a bit. All the majors except for Chrysler were down this month. Last August was Cash for Clunkers, so nobody looks good compared to that.

Also, GM has filed for it's IPO, so stock will be sold during the fall to start going private again. Actually, all the domestics are having a great year.

It's been done before with Chrysler and Sematech under Reagan and Lockheed under Nixon/Ford, and worked out well.

Roger Gray
Auto Editor

As a life-long GM customer, I am saddened and resentful of the take-over and will not buy anything from gov't-motors as long as the current arrangement continues.

Not looking too good for Government Motors.

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