27th January, 2009

General Motors sold 8.35 million vehicles in 2008, thus becoming the world's second largest vehicle manufacturer, following 77 consecutive years as the world's largest maker of motor vehicles.

First place now belongs to Toyota. The Japanese manufacturer sold 8.97 million vehicles in 2008.

The worldwide new vehicle market, during 2008, was estimated at over 60 million units according to Next Car's Managing Editor, Stephen Walker.

The sales numbers were down for both General Motors and Toyota in 2008 in comparison to their 2007 sales.

Toyota sales were down 4%, whilst GM sales slipped 11 per cent. The worldwide market fell 5.7% in 2008.

Both manufacturers are prepared for a tough year in 2009, particularly General Motors as they continue their struggle with profitability.

Brief Summary of GM Sales Performance

• GM Asia Pacific sales volume grows 3 per cent; Chevrolet sales in China grows 16 per cent to nearly 200,000 vehicles; 1.09 million GM vehicles sold in China sets record with 6 per cent volume growth
• Third consecutive year of more than 2 million vehicles sold in Europe; Chevrolet sales breakthrough 500,000 mark with record share; Opel sets sales record in Central and Eastern Europe with volume up 13 per cent
• GM beats the industry with more than 1.27 million total vehicle sales in Latin America, Africa and Middle East Region led by top-selling Chevrolet Corsa, Celta and Aveo
• GM continues emerging markets leadership with 2008 market share growth in 14 of 26 markets

More Detail

Record-setting sales performance in GM's Latin America, Africa and Middle East and Asia Pacific regions, and a third consecutive 2 million vehicles sales performance in Europe during 2008, helped General Motors sell more than 8.35 million vehicles globally last year. GM's nearly 3 per cent growth in both the Asia Pacific and Latin America, Africa and Middle East regions partially offset North America sales that declined 21 per cent, and growing pressure in Europe that resulted in 7 per cent fewer sales. Compared with 2007, GM's total sales were down 11 per cent, reflecting global economic pressures from H2 onwards that include tightening credit, falling commodities prices and lack of GDP growth.

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In 2008, GM sold 5.37 million vehicles outside the U.S., accounting for 64 per cent of total GM global sales volume compared with 59 per cent a year ago.

In the fourth quarter of 2008, GM sales of 1.70 million vehicles were down 26 per cent compared with the same quarter a year ago. Most of that decline was reflected in 379,000 fewer vehicles sold in North America as the market yielded to a crushing lack of consumer confidence, and tightened credit requirements, in the United States.

GM Continues Growth in Emerging Markets

"GM's 2008 sales performance shows that we are continuing to take advantage of new emerging market opportunities and are meeting customer needs with fuel-efficient products that offer compelling design and great value - such as the award-winning Opel/Vauxhall Insignia in Europe, the Buick Excelle in China and the Corsa in Latin America," Jonathan Browning, vice president, global sales, service and marketing, said recently. "We saw sales volume increases in the key four emerging markets of Brazil (up 10 per cent), Russia (up 30 per cent), India (up 9 per cent), and China (up 6 per cent)."

"The challenges in the global financial markets, including credit tightening, the drop in commodity prices, and economic uncertainty continue to negatively impact overall demand for new vehicles," Browning added. "For the total global industry, we saw about 3.5 million fewer vehicles sold in 2008 than the previous year."

With these market challenges comes significant opportunity and GM is positioning itself with new products either on showroom floors or on the way in the near future.

Chevrolet sales in Asia Pacific grew 14 per cent in 2008 compared with a year ago. Chevrolet sales in China (up 16 per cent) and India (up 9 per cent) powered much of this growth. The Wuling brand continued strong growth in China with sales up 17 per cent in 2008 compared with a year ago. The Buick channel is very strong in China with the all new Regal and soon-to-be-launched LaCrosse. The Chevrolet Cruze and Cadillac SRX will play important roles in taking advantage of China's growth in the months and years ahead.

In the Latin America, Africa and Middle East region - a traditional Chevrolet stronghold - 2008 sales grew 3 per cent compared with 2007. Chevrolet accounted for nearly 90 per cent of GM's sales in the region and Brazil remains the second-largest volume market for Chevrolet. Also, GMC, Cadillac and Saab showed impressive annual percentage increases in their sales volume - up 24, 22 and 16 per cent, respectively, compared with a year ago. GM sales in the LAAM region beat the expected industry performance, with more than 1.27 million vehicles sold.

A large, relatively young population with a low car-per-capita ratio, hold promise for the market in years to come. Several new Chevrolet product launches are on tap for 2009 including the Cruze, Malibu, Traverse and Camaro (see image opposite).

Chevrolet sales in Europe also contributed to the brand's solid 2008 results, growing 11 per cent and breaking though the 500,000 vehicle mark for the first time. Chevrolet is also performing strongly in emerging markets. It remains the top-selling import brand in Russia. In addition, Opel sales in Russia increased by 49 per cent, while Saab increased 68 per cent in 2008 compared with a year ago. The Opel Insignia won the prestigious European Car of the Year Award - a first for Opel in 22 years and a strong statement about GM's global mid-size vehicle architecture. Important launches for GM this year in the region include the Opel Insignia Sports Tourer and Astra; Chevrolet Cruze; and the new Saab 9-3X and 9-5.

A highlight of GM's North America regional performance was the all-new Chevrolet Malibu sedan (see image opposite) that achieved the highest percentage gain in annual sales volume (39 per cent) of any of the top 20 selling vehicles in the United States. While GM's total North America vehicle sales volume in 2008 declined 21 per cent, there were a number of bright future product opportunities highlighted at the Detroit Motor Show this month. They included the new Chevrolet Camaro and second generation Equinox; the second generation Cadillac SRX and all-new CTS sport wagon; and the Buick LaCrosse.

Sales of Cadillac outside of the United States were supported by growth of the brand in Latin America, Africa and the Middle East (up 22 per cent).

Note: Global sales results are based on preliminary figures and have been rounded.