GM's U.S. December Sales Fall 31%, 2008 YTD Sales Down 23%

GM's U.S. December Sales Fall 31%, 2008 YTD Sales Down 23%

Once again, General Motors recorded a significant drop in U.S. sales in December delivering 221,983 vehicles, down 31 percent compared with a year ago. GM's December car sales of 87,506 units were off 25 percent while its truck sales of 134,477 units were down 35 percent compared to the same month last year. Despite the plunge, GM officials seemed happy to report that December deliveries were up 30 percent compared with October and up 43 percent compared with November.

"Given the ongoing challenges and the difficult market environment, we were very encouraged to see a volume rebound for GM in December compared with both October and November," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing.

"We are building more vehicles than ever that provide great value and Americans enjoy owning. That is why, for the year, we are seeing our market share holding steady at just above 22 percent. That's 5 percentage points more and 760,000 vehicles more than our nearest competitor," added LaNeve.

For the year, GM sold 2,980,688 vehicles in the U.S. -down 23 percent compared with 2007, which allowed the company to maintain a market share just above 22 percent.

GM Offers New Loans as low as 0% to Revive Sales

GM Offers New Loans as low as 0% to Revive Sales

Strengthened by a $6 billion federal bailout, General Motors financing arm GMAC LLC, has not only resumed lending to customers with low credit scores in the U.S., but has also announced new reduced rate financing for up to 60 months on select cars and trucks. The rates that range from zero interest to 5.9 percent annually, are available to qualified buyers today through January 5, 2009 on many 2008 and select 2009MY vehicles (see the complete list after the jump). Many of the vehicles listed have can also be financed with cash rebated ranging from $500 to $4,250.

"We're very excited to offer this reduced rate financing through GMAC to encourage our customers to get back into the game," said Mark LaNeve, vice president, GM North America Vehicle Sales, Service and Marketing. "This enables even more qualified customers to finance through GMAC at their local GM dealership, and provides additional financing capacity with conventional and reduced rate APRs for our dealers to make sales."

2008MY vehicles and offers for qualified buyers:

• 0% APR for up to 60 months on '08 Chevrolet TrailBlazer; GMC Envoy; and Saab 9-3, 9-5, 9-7X
  
• 0.9% APR for up to 60 months on '08 Buick Lucerne
  
• 1.9% APR for up to 60 months on '08 GMC Yukon and Yukon XL; Chevrolet Tahoe, Suburban and Avalanche; Cadillac CTS, SRX, Escalade, DTS, STS and XLR
  
• 2.9% APR for up to 60 months on '08 Buick Lacrosse; HUMMER H2 and H3
  
• 3.9% APR for up to 60 months on '08 Chevrolet Equinox, Colorado Ext and Crew cab and Light Duty Silverado; Pontiac Torrent; GMC Canyon Ext and Crew cab, and Light Duty Sierra
  
• 4.9% APR for up to 60 months on '08 Saturn Astra and Sky; Pontiac Solstice; Chevrolet Corvette and Heavy Duty Silverado; and Heavy Duty GMC Sierra

2009MY vehicles and offers for qualified buyers:

• 3.9% APR for up to 60 months on '09 Chevrolet Cobalt; Pontiac G5; and Cadillac CTS
  
• 4.9% APR for up to 60 months on '09 Pontiac G6; Chevrolet Malibu, Light Duty Silverado and HHR; Saturn Aura; and Light Duty GMC Sierra
  
• 5.9% APR for up to 60 months on '09 Chevrolet Avalanche and Heavy Duty Silverado; and Heavy Duty GMC Sierra

GM's Holden to Build New Compact Model Based on Opel Astra & Chevy Cruze

GM's Holden to Build New Compact Model Based on Opel Astra & Chevy Cruze

The official teaser sketch you see above gives us our first glimpse of Holden's upcoming, Australian built compact car that will available in late 2010 in both four-door sedan and hatchback versions. The yet unnamed compact model will be based on GM's global Delta small car architecture that underpins the Chevy Cruze as well as the next-generation Opel / Vauxhall / Saturn Astra. It will be GM Holden's first locally produced car beyond the Commodore (sold in the States as the Pontiac G8) since the demise of the Vectra production in 1998.

Local design and engineering work on the Australian vehicle will take place at GM Holden's Port Melbourne headquarters in the State of Victoria. The front-wheel drive model will be offered with an array of 4-cylinder direct injected petrol and diesel engines while Holden said that it is also considering a range of alternative fuel or fuel saving technologies including E85, LPG, CNG and start-stop hybrid capability.

Further details about the compact model including its nameplate, design specifications and pricing will be revealed at a later date.

Production of Holden's second carline at the firm's Elizabeth manufacturing facility in South Australia will start in the third quarter of 2010 with support from the Federal and South Australian Governments. According to GM's Australian subsidiary, the program will require 500 to 600 existing employees at Elizabeth and is estimated to provide 500 to 600 local supplier positions.

GM Holden Chairman and Managing Director, Mark Reuss said the announcement provided opportunity to take a leading role in developing alternative fuel and fuel saving technologies in Australia for Australians. Mr Reuss said the program would be a major contributor to the economy, generating an estimated $70 million to $80 million in wages and $30 million in research and development.

"Together with Government, we are extending the scope and consumer appeal of our local manufacturing efforts," Mr Reuss said. "We have been building Holden cars to suit the needs of Australian motorists for 60 years. These plans build on that tradition. We recognise the needs and desires of motorists are evolving with growing concern around environmental factors and shifting consumer sentiment."

"Just as our leading Commodore range will continue to undergo technological development, this new vehicle will cater for growing demand for smaller cars focussed on economy," Mr Reuss added.

GM Studying European Recharging Infrastructure for Plug-In EVs

GM Studying European Recharging Infrastructure for Plug-In EVs

General Motors Europe and Spain's Iberdrola which is a leading private electric utilities worldwide and the largest renewable energy operator in the world, have signed an agreement to jointly perform a feasibility study to examine the technical requirements of a recharging infrastructure for the integrated marketing and viability of plug-in electric cars like GM's forthcoming Volt. The main areas of the study will be carried out in Spain and the United Kingdom with the two firms analyzing the requirements for the location of plug sockets in private homes and offices, and public or private parking, and for the installation of electricity meters.

In a joint-statement, GM Europe and Iberdrola said that in case the outcome of the viability study is positive, "both companies anticipate to evaluate possible agreements with the different European, national, regional and local governments, to support the implementation of this initiative".