SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549-1004
FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report
(Date of earliest event reported) June 1, 2001
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GENERAL MOTORS CORPORATION
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(Exact name of registrant as specified in its charter)
STATE OF DELAWARE 1-143 38-0572515
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(State or other jurisdiction (Commission File Number) (I.R.S. Employer
of incorporation) Identification No.)
300 Renaissance Center, Detroit, Michigan 48265-3000
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (313) 556-5000
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ITEM 5. OTHER ITEMS
On June 1, 2001, General Motors Corporation (GM) issued a news release
announcing May production results and revision of second quarter forecast. The
release is as follows:
GM May Sales Up 1%; Industry on Pace for Third-Best Sales Year
- Best Month Ever for GM Truck Sales -- Up 10%
- Car Sales Down 9%
GM Announces May Production Results; Second Quarter Forecast Revised
DETROIT -- General Motors dealers sold 459,050 new cars and trucks in April
in the United States, up one percent from May 2000. A 10 percent increase in
truck sales bolstered the GM lineup in May with exceptionally strong pickup and
utility sales. GM car sales decreased nine percent.
"We're very encouraged that demand remains healthy and the industry is on
pace for its third-best year in history," said Bill Lovejoy, group vice
president of North America Vehicle Sales, Service and Marketing. "Our strong
sales results in May were driven by outstanding dealer efforts and consumer
demand for GM products, especially our industry-leading lineup of truck brands.
GM buyers are the real winners in today's marketplace with our improving product
quality and innovative new products."
GM Truck Sales Highlights
-------------------------
GM's strongest results in May came from full-size truck sales (pickups and
utilities), which in total climbed 24 percent. With Silverado posting its best
month since October 1978, GM's full-size pickup sales rose 17 percent, full-size
utility sales rose 38 percent, and all eight individual GM brands in those
segments posted double-digit sales gains. Notably, all GM full-size utilities
posted double-digit May sales increases in excess of 20 percent.
GM expects to continue its strong truck sales performance as several new
and innovative entries increase in availability, including the Chevrolet
TrailBlazer, GMC Envoy, Oldsmobile Bravada, Buick Rendezvous, Chevrolet
Avalanche and Cadillac Escalade.
GM Car Sales Highlights
-----------------------
Saturn posted a significant 26 percent total increase in car sales with
L-Series sales up 31 percent and S-Series sales up 23 percent.
Chevrolet midsize car brands Impala and Malibu performed briskly with sales
up five percent and 19 percent, respectively.
The Chevrolet Impala, Malibu and Cavalier all rank on the top-10 list of
best-selling cars in America, making Chevrolet the only brand in the auto
industry with three top-10 best sellers.
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May Sales Records CYTD Records
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Saturn Saturn
Chevrolet Impala Chevrolet Impala
Saturn L-Series Saturn L-Series
GM Trucks GMC Pickups
Chevrolet Trucks GMC Sierra
GM Pickups GM Utilities
Chevrolet Tracker Chevrolet Utilities
GM Full-size Utilities GMC Utilities
Chevrolet Full-size Utilities Chevrolet Tracker
Chevrolet Suburban GM Midsize Utilities
Chevrolet Tahoe GM Full-size Utilities
GMC Full-size Utilities Chevrolet Suburban
GMC Yukon XL Chevrolet Tahoe
GMC Yukon GMC Full-size Utilities
Cadillac Escalade GMC Yukon
Hummer GMC Yukon XL
Best Month Ever
GM Trucks
Chevrolet Trucks
GM Full-size Utilities
Chevrolet Tahoe
GMC Full-size Utilities
GMC Yukon
GMC Yukon XL
Saturn
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GM Announces May Production Totals, 2nd and 3rd Quarter 2001 Estimates
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In May, GM produced 492,000 vehicles (229,000 cars and 263,000 trucks) in
North America, down from 548,000 vehicles (276,000 cars and 272,000 trucks)
produced in May 2000. (Production totals include joint venture production of
11,000 vehicles in May 2001 and 13,000 vehicles in May 2000.)
GM announced its second-quarter North American production estimate is 1.349
million vehicles (629,000 cars and 720,000 trucks) in the second quarter, an
increase from the previous estimate of 1.332 million vehicles (618,000 cars and
714,000 trucks). The latest second-quarter estimate represents a 14 percent
decline from the 1.568 million vehicles (787,000 cars and 781,000 trucks) GM
produced in the second quarter of 2000.
Additionally, GM announced that third-quarter production is estimated at
1.235 million vehicles (572,000 cars and 663,000 trucks), a 6.4 percent decline
from the 1.319 million vehicles (689,000 cars and 630,000 trucks) GM produced in
the third quarter of 2000.
The increase in production for the second quarter reflects stronger demand
for GM products than anticipated as well as continued appropriate management of
inventories. Despite the ongoing heavy overall pricing pressures, GM believes
that the current analysts' estimate for second-quarter earnings of about $1.05
per share is reasonable. The company also affirmed its previously stated outlook
for the calendar year of $4.25 per share.
Additionally, GM announced the following second- and third-quarter 2001
production estimates for its international regions:
- GM Europe - The second-quarter estimate is 494,000 vehicles, down from
the previous estimate of 504,000. The third-quarter estimate is 386,000
vehicles.
- GM Asia Pacific - The second-quarter estimate is unchanged at 65,000
vehicles. The third-quarter estimate is 79,000 vehicles.
- GM Latin America, Africa and the Middle East - The second quarter
estimate is 170,000 vehicles, up from the previous estimate of 169,000.
The third-quarter estimate is 174,000 vehicles.
Note: GM sales and production results are available on GM Media Online at
http://media.gm.com by clicking on the Sales/Production icon.
-------------------
In this press release and related comments by General Motors management, our use
of the words "expect," "anticipate," "estimate," forecast," "objective," "plan,"
"goal" and similar expressions is intended to identify forward looking
statements. While these statements represent our current judgement on what the
future may hold, and we believe these judgements are reasonable, actual results
may differ materially due to numerous important factors that are described in
GM's most recent report on SEC Form 10-K (at page II-20) which may be revised or
supplemented in subsequent reports on SEC Forms 10-Q and 8-K. Such factors
include, among others, the following: changes in economic conditions, currency
exchange rates or political stability; shortages of fuel, labor strikes or work
stoppages; market acceptance of the corporation's new products; significant
changes in the competitive environment; changes in laws, regulations and tax
rates; and, the ability of the corporation to achieve reductions in cost and
employment levels to realize production efficiencies and implement capital
expenditures at levels and times planned by management.
# # #
2-1P
GM Car Deliveries - (United States)
May 2001
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Calendar Year-to-Date
(1) May January - May
--------------------------------------------------
%Chg
2001 2000 per S/D 2001 2000 %Chg
--------------------------------------------------
Selling Days (S/D) 26 26
---------------------------------------------------------------------------
Century 12,948 14,583 -11.2 52,381 65,782 -20.4
LeSabre 12,407 12,726 -2.5 54,118 56,261 -3.8
Park Avenue 3,564 3,932 -9.4 14,610 19,409 -24.7
Regal 4,661 4,879 -4.5 21,387 27,355 -21.8
Riviera 0 0 ***.* 2 34 -94.1
Buick Total 33,580 36,120 -7.0 142,498 168,841 -15.6
---------------------------------------------------------------------------
Catera 1,314 1,924 -31.7 4,493 5,842 -23.1
DeVille 5,926 7,897 -25.0 35,536 48,485 -26.7
Eldorado 614 928 -33.8 3,115 4,730 -34.1
Seville 1,973 2,302 -14.3 8,918 11,376 -21.6
Cadillac Total 9,827 13,051 -24.7 52,062 70,433 -26.1
---------------------------------------------------------------------------
Camaro 3,165 4,408 -28.2 14,027 18,856 -25.6
Cavalier 18,261 20,909 -12.7 106,448 96,420 10.4
Corvette 2,847 2,725 4.5 13,501 13,811 -2.2
Impala 17,147 16,296 5.2 85,418 75,276 13.5
Lumina 340 3,754 -90.9 17,397 18,875 -7.8
Malibu 22,666 19,024 19.1 86,156 92,552 -6.9
Metro 33 3,115 -98.9 6,430 18,713 -65.6
Monte Carlo 5,423 5,791 -6.4 29,001 32,008 -9.4
Prizm 5,303 3,931 34.9 25,231 22,872 10.3
Chevrolet Total 75,185 79,953 -6.0 383,609 389,383 -1.5
---------------------------------------------------------------------------
Alero 10,234 11,441 -10.5 55,789 58,424 -4.5
Aurora 1,561 2,564 -39.1 12,857 7,647 68.1
Cutlass 3 72 -95.8 15 979 -98.5
Cutlass Supreme 0 0 ***.* 0 0 ***.*
Eighty Eight 1 19 -94.7 3 405 -99.3
Intrigue 2,857 5,213 -45.2 17,840 26,780 -33.4
Oldsmobile Total 14,656 19,309 -24.1 86,504 94,235 -8.2
---------------------------------------------------------------------------
Bonneville 3,248 5,881 -44.8 18,810 25,652 -26.7
Firebird 2,158 3,288 -34.4 10,184 14,238 -28.5
Grand Am 17,721 20,183 -12.2 80,658 93,420 -13.7
Grand Prix 11,360 13,489 -15.8 47,703 65,282 -26.9
Sunfire 5,780 8,420 -31.4 36,570 36,569 0.0
Pontiac Total 40,267 51,261 -21.4 193,925 235,161 -17.5
---------------------------------------------------------------------------
900 0 1 ***.* 0 38 ***.*
9000 0 0 ***.* 0 16 ***.*
9-3 1,783 1,901 -6.2 7,911 7,829 1.0
9-5 1,231 1,561 -21.1 5,554 5,672 -2.1
Saab Total 3,014 3,463 -13.0 13,465 13,555 -0.7
---------------------------------------------------------------------------
Saturn EV1 0 12 ***.* 0 184 ***.*
Saturn L Series 11,910 9,063 31.4 44,393 35,130 26.4
Saturn S Series 21,021 17,026 23.5 77,855 79,644 -2.2
Saturn Total 32,931 26,101 26.2 122,248 114,958 6.3
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GM Total 209,460 229,258 -8.6 994,311 1,086,566 -8.5
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GM Car Deliveries by Production Source
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GM North America * 205,132 223,871 -8.4 976,353 1,067,169 -8.5
---------------------------------------------------------------------------
GM Import 4,328 5,387 -19.7 17,958 19,397 -7.4
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GM Total 209,460 229,258 -8.6 994,311 1,086,566 -8.5
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* Includes U.S./Canada/Mexico
2-1P
GM Car Deliveries - (United States)
May 2001
---------------------------------------------------------------------------
Calendar Year-to-Date
(1) May January - May
--------------------------------------------------
%Chg
2001 2000 per S/D 2001 2000 %Chg
--------------------------------------------------
Selling Days (S/D) 26 26
---------------------------------------------------------------------------
GM Car Deliveries by Production Source and Marketing Division
---------------------------------------------------------------------------
Buick Total 33,580 36,120 -7.0 142,498 168,841 -15.6
Cadillac Total 8,513 11,127 -23.5 47,569 64,591 -26.4
Chevrolet Total 75,185 79,953 -6.0 383,609 389,383 -1.5
Oldsmobile Total 14,656 19,309 -24.1 86,504 94,235 -8.2
Pontiac Total 40,267 51,261 -21.4 193,925 235,161 -17.5
Saturn Total 32,931 26,101 26.2 122,248 114,958 6.3
GM North America
Total * 205,132 223,871 -8.4 976,353 1,067,169 -8.5
---------------------------------------------------------------------------
Cadillac Total 1,314 1,924 -31.7 4,493 5,842 -23.1
Saab Total 3,014 3,463 -13.0 13,465 13,555 -0.7
GM Import Total 4,328 5,387 -19.7 17,958 19,397 -7.4
---------------------------------------------------------------------------
GM Vehicle Deliveries by Marketing Division
---------------------------------------------------------------------------
Buick Total 34,678 36,120 -4.0 143,632 168,841 -14.9
Cadillac Total 12,270 15,034 -18.4 62,157 81,690 -23.9
Chevrolet Total 250,234 242,728 3.1 1,105,737 1,157,351 -4.5
GMC Total 55,872 50,046 11.6 219,932 236,653 -7.1
Hummer Total 76 38 100.0 368 451 -18.4
Oldsmobile Total 20,461 26,313 -22.2 112,326 127,135 -11.6
Other-Isuzu Total 1,585 0 ***.* 6,940 0 ***.*
Pontiac Total 47,929 56,447 -15.1 227,379 265,465 -14.3
Saab Total 3,014 3,463 -13.0 13,465 13,555 -0.7
Saturn Total 32,931 26,101 26.2 122,248 114,958 6.3
GM Total 459,050 456,290 0.6 2,014,184 2,166,099 -7.0
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* Includes US/Canada/Mexico
3-1P
GM Truck Deliveries - (United States)
May 2001
---------------------------------------------------------------------------
Calendar Year-to-Date
(1) May January - May
--------------------------------------------------
%Chg
2001 2000 per S/D 2001 2000 %Chg
--------------------------------------------------
Selling Days (S/D) 26 26
---------------------------------------------------------------------------
Rendezvous 1,098 0 ***.* 1,134 0 ***.*
Total Buick 1,098 0 ***.* 1,134 0 ***.*
---------------------------------------------------------------------------
Escalade 2,443 1,983 23.2 10,095 11,257 -10.3
Total Cadillac 2,443 1,983 23.2 10,095 11,257 -10.3
---------------------------------------------------------------------------
Astro 6,253 11,143 -43.9 28,444 47,560 -40.2
C/K Suburban(Chevy) 14,938 11,513 29.7 60,487 56,811 6.5
Chevy C/T Series 628 944 -33.5 2,732 4,061 -32.7
Chevy P Models & Mtr Hms 0 41 ***.* 27 421 -93.6
Chevy W Series 157 247 -36.4 831 929 -10.5
Express Cutaway/G Cut 1,374 1,876 -26.8 5,859 9,196 -36.3
Express Panel/G Van 6,252 8,321 -24.9 27,850 34,072 -18.3
Express/G Sportvan 1,981 2,008 -1.3 7,186 6,841 5.0
S/T Blazer 13,928 21,430 -35.0 82,067 102,991 -20.3
S/T Pickup 19,381 19,310 0.4 69,951 93,356 -25.1
Silverado-C/K Pickup 70,324 59,160 18.9 291,987 284,398 2.7
Tahoe 19,822 13,612 45.6 79,382 59,651 33.1
Tracker 5,186 4,163 24.6 22,935 20,871 9.9
TrailBlazer 4,762 0 ***.* 6,209 0 ***.*
Venture 10,063 9,007 11.7 36,181 46,810 -22.7
Chevrolet Total 175,049 162,775 7.5 722,128 767,968 -6.0
---------------------------------------------------------------------------
C/K Suburban(GMC) 4 256 -98.4 29 4,334 -99.3
Envoy 4,102 0 ***.* 6,299 0 ***.*
GMC C/T Series 2,288 1,897 20.6 6,325 10,576 -40.2
GMC W Series 337 431 -21.8 1,862 2,071 -10.1
P Models & Mtr Hms(GMC) 1 22 -95.5 11 248 -95.6
S/T Jimmy 2,598 6,800 -61.8 22,284 34,245 -34.9
Safari (GMC) 1,722 3,597 -52.1 9,521 16,088 -40.8
Savana Panel/G Classic 2,215 3,989 -44.5 11,408 13,936 -18.1
Savana Special/G Cut 3,087 943 227.4 6,115 4,367 40.0
Savana/Rally 283 453 -37.5 1,001 1,694 -40.9
Sierra 19,933 17,846 11.7 80,720 84,865 -4.9
Sonoma 5,551 4,163 33.3 17,957 20,666 -13.1
Yukon 7,235 5,356 35.1 30,619 24,117 27.0
Yukon XL 6,516 4,293 51.8 25,781 19,446 32.6
GMC Total 55,872 50,046 11.6 219,932 236,653 -7.1
---------------------------------------------------------------------------
Hummer H1 76 38 100.0 368 451 -18.4
Hummer Total 76 38 100.0 368 451 -18.4
---------------------------------------------------------------------------
Bravada 2,134 3,092 -31.0 9,109 14,046 -35.1
Silhouette 3,671 3,912 -6.2 16,713 18,854 -11.4
Oldsmobile Total 5,805 7,004 -17.1 25,822 32,900 -21.5
---------------------------------------------------------------------------
Other-Isuzu F Series 233 0 ***.* 985 0 ***.*
Other-Isuzu N Series 1,352 0 ***.* 5,955 0 ***.*
Other-Isuzu Total 1,585 0 ***.* 6,940 0 ***.*
---------------------------------------------------------------------------
Aztek 2,536 0 ***.* 13,588 0 ***.*
Montana 5,126 5,184 -1.1 19,866 30,279 -34.4
Trans Sport 0 2 ***.* 0 25 ***.*
Pontiac Total 7,662 5,186 47.7 33,454 30,304 10.4
---------------------------------------------------------------------------
GM Total 249,590 227,032 9.9 1,019,873 1,079,533 -5.5
---------------------------------------------------------------------------
GM TRUCK Deliveries by Production Source
---------------------------------------------------------------------------
GM North America * 248,102 226,570 9.5 1,013,170 1,077,474 -6.0
---------------------------------------------------------------------------
GM Import 1,488 462 222.1 6,703 2,059 225.5
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GM Total 249,590 227,032 9.9 1,019,873 1,079,533 -5.5
---------------------------------------------------------------------------
GM Light Duty Truck Deliveries by Production Source
---------------------------------------------------------------------------
GM North America * 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
---------------------------------------------------------------------------
GM Import 0 0 ***.* 0 0 ***.*
---------------------------------------------------------------------------
GM Total 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
---------------------------------------------------------------------------
* Includes U.S./Canada/Mexico
3-1P
GM Truck Deliveries - (United States)
May 2001
---------------------------------------------------------------------------
Calendar Year-to-Date
(1) May January - May
--------------------------------------------------
%Chg
2001 2000 per S/D 2001 2000 %Chg
--------------------------------------------------
Selling Days (S/D) 26 26
---------------------------------------------------------------------------
GM TRUCK Deliveries by Production Source and Marketing Division
---------------------------------------------------------------------------
Buick Total 1,098 0 ***.* 1,134 0 ***.*
Cadillac Total 2,443 1,983 23.2 10,095 11,257 -10.3
Chevrolet Total 174,952 162,586 7.6 721,580 767,317 -6.0
GMC Total 55,637 49,773 11.8 218,899 235,245 -6.9
Hummer Total 76 38 100.0 368 451 -18.4
Oldsmobile Total 5,805 7,004 -17.1 25,822 32,900 -21.5
Other-Isuzu Total 429 0 ***.* 1,818 0 ***.*
Pontiac Total 7,662 5,186 47.7 33,454 30,304 10.4
GM North America
Total* 248,102 226,570 9.5 1,013,170 1,077,474 -6.0
---------------------------------------------------------------------------
Chevrolet Total 97 189 -48.7 548 651 -15.8
GMC Total 235 273 -13.9 1,033 1,408 -26.6
Other-Isuzu Total 1,156 0 ***.* 5,122 0 ***.*
GM Import Total 1,488 462 222.1 6,703 2,059 225.5
---------------------------------------------------------------------------
GM Light Truck Deliveries by Production Source and Marketing Division
---------------------------------------------------------------------------
Buick Total 1,098 0 ***.* 1,134 0 ***.*
Cadillac Total 2,443 1,983 23.2 10,095 11,257 -10.3
Chevrolet Total 174,264 161,543 7.9 718,538 762,557 -5.8
GMC Total 53,246 47,696 11.6 211,734 223,758 -5.4
Hummer Total 76 38 100.0 368 451 -18.4
Oldsmobile Total 5,805 7,004 -17.1 25,822 32,900 -21.5
Pontiac Total 7,662 5,186 47.7 33,454 30,304 10.4
GM North America
Total* 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
---------------------------------------------------------------------------
GM Light Truck Deliveries by Marketing Division
---------------------------------------------------------------------------
Buick Total 1,098 0 ***.* 1,134 0 ***.*
Cadillac Total 2,443 1,983 23.2 10,095 11,257 -10.3
Chevrolet Total 174,264 161,543 7.9 718,538 762,557 -5.8
GMC Total 53,246 47,696 11.6 211,734 223,758 -5.4
Hummer Total 76 38 100.0 368 451 -18.4
Oldsmobile Total 5,805 7,004 -17.1 25,822 32,900 -21.5
Pontiac Total 7,662 5,186 47.7 33,454 30,304 10.4
GM Total 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
---------------------------------------------------------------------------
* Includes US/Canada/Mexico
Detroit -- General Motors dealers in the United States today reported the
following vehicle sales:
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Calendar Year-to-Date
May January - May
---------------------------------------------------------
Curr S/D: 26 % Chg
Prev S/D: 26 2001 2000 per S/D 2001 2000 % Chg
-------------------------------------------------------------------------------
Vehicle Total 459,050 456,290 0.6 2,014,184 2,166,099 -7.0
-------------------------------------------------------------------------------
Car Total 209,460 229,258 -8.6 994,311 1,086,566 -8.5
-------------------------------------------------------------------------------
Truck Total 249,590 227,032 9.9 1,019,873 1,079,533 -5.5
-------------------------------------------------------------------------------
Light Truck Total 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
-------------------------------------------------------------------------------
Light Vehicle Total 454,054 452,708 0.3 1,995,456 2,147,793 -7.1
-------------------------------------------------------------------------------
-------------------------------------------------------------------------------
Market Division
Vehicle Total Calendar Year-to-Date
May January - May
---------------------------------------------------------
% Chg
2001 2000 per S/D 2001 2000 % Chg
-------------------------------------------------------------------------------
Buick 34,678 36,120 -4.0 143,632 168,841 -14.9
Cadillac 12,270 15,034 -18.4 62,157 81,690 -23.9
Chevrolet 250,234 242,728 3.1 1,105,737 1,157,351 -4.5
GMC 55,872 50,046 11.6 219,932 236,653 -7.1
Hummer 76 38 100.0 368 451 -18.4
Oldsmobile 20,461 26,313 -22.2 112,326 127,135 -11.6
Other - Isuzu 1,585 0 ***.* 6,940 0 ***.*
Pontiac 47,929 56,447 -15.1 227,379 265,465 -14.3
Saab 3,014 3,463 -13.0 13,465 13,555 -0.7
Saturn 32,931 26,101 26.2 122,248 114,958 6.3
-------------------------------------------------------------------------------
Sales of Domestically Produced Vehicles
-------------------------------------------------------------------------------
Car 205,132 223,871 -8.4 976,353 1,067,169 -8.5
-------------------------------------------------------------------------------
Light Truck 244,594 223,450 9.5 1,001,145 1,061,227 -5.7
-------------------------------------------------------------------------------
Twenty-six selling days for the May period this year and twenty-six for last
year.
*American Isuzu Motors, Inc., dealers sales of commercial vehicles distributed
by General Motors Corporation as reported to General Motors by American Isuzu
Motors, Inc.
Please Note: The Light sub-totals will be different than reported the prior
year due to the implementation of 2001 Segmentation, which moved some Light
Trucks to Medium.
# # # #
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
GENERAL MOTORS CORPORATION
--------------------------
June 1, 2001
------------------
By
/s/Peter R. Bible
-------------------------------
(Peter R. Bible,
Chief Accounting Officer)