OUCH! GM sales plummet 21%

[H3 Builder]

Her is some of what was put out by GM:

DETROIT ? GM dealers in the United States delivered 326,300 vehicles in June, down 24 percent, compared with year-ago monthly sales. The decline was partly attributed to a planned reduction of an additional 13,487 daily rental sale vehicles in the month. GM now has taken more than 92,000 daily rental vehicles out of the sales totals in 2007.
?Given the planned reduction in daily rental sales, we expected June would be a tough comparison to a year ago. Our retail performance for the month was also below the solid running rate we?ve experienced for the first half of the year which we attribute to a soft industry and lower incentive spending than our competitors. However, we continue to believe that maintaining a disciplined approach to both incentives and daily rental car sales is key to making our marketing strategy work in the long run,? said Mark LaNeve, vice president, GM North American Sales, Service and Marketing.
?We continue our focus on the retail side of the equation and first-half results were solid,? LaNeve added. ?We are delighted with the continuing success of new products, especially the GMC Acadia, Saturn OUTLOOK and Buick Enclave. As with many of our vehicles, these all-new crossovers offer great fuel economy, terrific performance and outstanding value. For example, a year ago we were selling only about 3,000 mid-utility crossover vehicles. This June we blew the doors off the segment with deliveries in excess of 15,000.?
Increased sales of the Saturn AURA, as well as the new mid-size crossovers GMC Acadia, Saturn OUTLOOK and Buick Enclave, demonstrate GM?s strong positioning in the marketplace for fuel-efficient vehicles. The GMC Acadia, Saturn OUTLOOK and Buick Enclave had retail sales of more than 12,000 vehicles, pushing a significant retail increase in GM?s mid-crossover segment. GM?s total sales of more than 15,000 vehicles in this segment pushed monthly performance up more than 377 percent, compared with the same month last year.
The all-new Chevrolet Silverado and GMC Sierra full-size pickup trucks ? fuel efficiency leaders in their class ? helped the GM full-size pickup segment post a first half 2007 sales increase, compared with the same period a year ago, in a challenging industry environment. The Silverado and Sierra also offer the best warranty coverage and residual values in segment, a winning combination for these products.


Sales for Hummer were:
H1 - 5 verses 57 for 2006 -57.9%
H2 - 945 verses 1365 for 2006 -33.3%
H3 - 4143 verses 4239 for 2006 -5.9%

Hummer Total 5093 verses 5661 for 2006 -13.4%

So H3 wasn't all that far off. The V-8 should help pick up sales.

H3 sales are holding up. H2 sales slide continues.

H3 sales are holding pretty steady. H2 sales slide continues.

[djallar]

Originally Posted by Steve - SanJose

H3 sales are holding pretty steady. H2 sales slide continues.

I would have gladly bought an H2, but couldn't come up with another $30,000. It was hard enough to convince my wife to let me spend $40,000...

[usetosellhummer]

I belive builders post supports my statement. Fleet sales were killing retail. Why spend 20 k on a G6 or other product when you can get the fleet dump of same model year for 6 k less. I still belive now is the time to buy GM stock. I don't have the cash but they will come back. World markets are going to make GM grow.

Originally Posted by usetosellhummer

I belive builders post supports my statement. Fleet sales were killing retail. Why spend 20 k on a G6 or other product when you can get the fleet dump of same model year for 6 k less. I still belive now is the time to buy GM stock. I don't have the cash but they will come back. World markets are going to make GM grow.

GM and Ford have been spewing crap about fleet sales for 10 years. And the numbers fluctuate but they are still huge. Fleet sales/rental cars kill the resale values which increases the cost of ownership to the average retail buyer.

I prefer Apple stock personally, got in cheap during the last market slump. But GM does look like it might be worth taking a position, but still very risky.

[Spuds]

At least GM has the Saturn line, the Silverado and Corvette, Cadillac and the H3 to keep them strong.

Ford has.......

Ford has........

Mazda!

It must suck to be Ford.....

[phantom2]

I can't begin to tell you how many times I have purchased and sold GM stock.Whenever I purchased it,it was with the blessing of my broker.I have never made a penny on GM and I have learned my lesson.I was brought up on GM and Chevrolet and I'm very disappointed in the way the company has evolved.I don't think they will recover from their poor reputation for quality that they earned through the 70s and 80s.

[usetosellhummer]

I owned a Chevy Citation. POS
I know all too well. I have no real money so I can't say much about investing.

[marin8703]

Originally Posted by phantom2

I can't begin to tell you how many times I have purchased and sold GM stock.Whenever I purchased it,it was with the blessing of my broker.I have never made a penny on GM and I have learned my lesson.I was brought up on GM and Chevrolet and I'm very disappointed in the way the company has evolved.I don't think they will recover from their poor reputation for quality that they earned through the 70s and 80s.

the time to get it was a little while back in 06, but now is still good. I made some money

btw, brokers suck, they dont know shiet from...???...anything else. your better off following the market yourself if you have time.

[Dani]

Unfortunately due to the recent dealings I've had with GM- I will not purchase another vehicle from them. I absolutely love my H3- don't get me wrong and it's killing me to get rid of it...BUT...It's just a lemon and GM doesn't wanna do crap for me. I can't support a company that refuses to stand behind their product. I'm waiting for the outcome from the Better Business Bureau/Lemon Law. Once it's done with- I'll be at a dealership to buy something foreign. Maybe I'll go back to a BMW or perhaps I'll grab a Mercedes this time but GM is definitely out. Hell- they could give me the vehicle for free and I'd still not take it.