“Retail improvements reflect increasing consumer confidence in GM’s long-term viability: Compared with May, 20 percent jump in cars, 13 percent boost in crossover deliveries.” Sure. I believe that. Consumers bought GM products because they thought, yup, New GM is here to stay! You know . . . when it gets here. Meanwhile, what the hell. We’ll buy a car from Old GM. Comparing June sales to May sales is, at best, disingenuous. (So much for Fritz’ Henderson transparency pledge to the Senate.) Last month was crap, this month is crap, but this month’s retail sales are less crap than last month’s. Anyway, the bottom line is still the bottom line: GM’s sales sunk 33.6 percent in June compared to last June, which, as I pointed out, was a horrible month in an of itself. Make way for the taxpayer-funded spin meisters!
Although GM retail sales were up in June [compared to May], fleet sales of 32,725 vehicles were down 49 percent compared to a year ago, contributing to an overall sales decline of 89,366 vehicles versus June 2008. This drop in fleet sales was a direct result of a strategic decision GM made to schedule down weeks at a number of its plants to tightly control inventories and better enable GM dealers to reduce their stock of vehicles. GM total truck sales in June (including crossovers) of 93,458 were down 40 percent, and car sales of 83,113 were off 24 percent compared with a year ago.
A strategic decision, eh? As opposed to the old dart board approach, I imagine. Sorry. I digest. There are a few stats that jump out at me. Sensibly enough, it looks like that “consumer confidence in GM’s long-term viability” doesn’t cast a warm glow over the brands it’s leaving behind. Saturn sales sank 60.2 percent. Saab slinked into the shadows with a 58.4 percent decline. HUMMER’s hummed “Taps” whilst absorbing a 48 percent hit.
Surprisingly, Cadillac (down 40.9 percent) and Chevrolet (down 33.3 percent) inspired less of that confidence than the doomed Pontiac brand (down 16.4 percent). In fact, it looks like the Australian-built G8’s a hit, with sales up 135.8 percent (3622 vs. 1536 units).
Depending on whether you’d like GM to build fuel-efficient vehicles or return taxpayer money, it’s good news/bad news for the company’s former [but maybe still current] cash cow. Sales at GMC dropped 33.7 percent, while Chevy’s trucks were off last June’s sales pace by 40.9 percent.
You know, as bad as these numbers are, and they’re right there in the mainstream of horrible, does anyone remember when GM’s CEO was busy telling Congress that it needed loans because it couldn’t possibly go bankrupt because sales would fall off the table? GM’s pre-C11 drop: 30 percent. Post: 33.4 percent. If GM had filed in 2003, would they be sucking on the taxpayer teat now?
Never mind. It’s all taxpayer money now. Profit and loss are mere abstractions, malleable to political will. How great is that?
In fact, it looks like the Australian-built G8’s a hit, with sales up 135.8 percent (3622 vs. 1536 units).
—–
GM exec: We’ve got a critically acclaimed car that outsold the Charger, Taurus, Crown Victoria, Avalon, CTS, and Lucerne.
Fritz: Let’s get rid of that shit right away. But, we sure could do with a few more compact crossovers on the Theta platform.
“This drop in fleet sales was a direct result of a strategic decision GM made to schedule down weeks at a number of its plants to tightly control inventories and better enable GM dealers to reduce their stock of vehicles.”
Yeah, and it might also reflect the poor economy for corporations along with a depression in car rentals.
Are NASCAR’s pickups as fake as NASCAR’s stock cars?
—
What’s the story on incentives? I notice Toyota is down more than GM. Does the vendor offering the most cash “win?”
I think that when the mid-year fleet sales results come out they will shed some light on GM’s ‘commitment ” to reduce their dependance there.
Bunter
I just got these stats off yahoo somewhere…doesn’t bode well for future recoveries in car sales…my bet is electric bikes sales will be worth watching though haha…
http://www.greenspeed.us/bionx_montague_swiss_bike.htm
(survey was of 13,500 respondants)
6% of survey respondents across the 18 markets say they will buy a used car in the next year, including 7% of Americans. 53% would be happy to pay more for a used car if it came with a manufacturer certification and warranty.
#
South Africa (18%) as well as the US, Malaysia and Thailand (all 15%) were tops among the households globally in which more than two cars can be found.
#
14% of respondents across the 18 markets say they will use public transport more often in the coming year. The highest level of agreement was in China at 39%. The lowest level of agreement was in the US at 2%.
#
9% of people globally, including 5% of Americans, said they would be riding bikes or walking more often.
Starting to see Ford pull away from GM and Chrysler….
Obama requests that GM and Chrysler stay around, the voters are denying his request one Ford at a time.
Wonder if he cares…
There are a lot of people like me who won’t consider a GM or Chrysler product as long as the government has its filthy paws on them.