GM Reports February Sales of 333,572, Down 19 Percent

GM Reports February Sales of 333,572, Down 19 Percent

Cadillac Continues To Achieve Significant Gains With 16 Percent Increase
GM Announces February Production Results, Q1 2003 Forecast Unchanged, Initial Q2 2003 Production Forecast

Detroit March 3, 2003; General Motors Corp. dealers sold 333,572 new cars and trucks in February in the United States, a 19 percent decrease versus February 2002. GM’s overall truck sales (188,954) declined 21 percent, while car sales (144,618) were down 16 percent.

“February was a challenging month for the industry, with poor weather in most of the country and significant uncertainty impacting consumers and the overall economy,” said John Smith, group vice president of North America Vehicle Sales, Service and Marketing. “At GM, we had a tough comparison to our performance last February, which included record truck sales and a total share of nearly 31 percent. Yet, we’re pleased with gains in our retail share compared to January, and all of 2002, and the prospects of further increases that will result from the 16 new GM products being introduced this year.”

GM Truck Sales
GM truck sales declined in February, due in large part to record December sales and comparisons to record truck sales last February. Total utility vehicle sales for the month (81,843) decreased 20 percent from last year. GM sold 42,884 midsize utility vehicles for the month, a decrease of 16 percent, and full-size utility sales (31,445) decreased 30 percent. GM continues to strengthen its position in the small utility segment as Saturn VUE and Chevrolet Tracker combined increased 6 percent over last year.

GM Car Sales
Cadillac and Saturn cars posted solid retail gains again, with an increase of 12 percent and 10 percent respectively. Saturn ION continued to gain momentum (7,340), and the Pontiac Vibe (5,162) and Cadillac CTS (3,552) both had solid performances in February. Other GM cars which posted strong sales in February included Saab 9-3 and 9-5, up 44 percent and 10 percent respectively, the Cadillac Seville (up 28 percent), and the Chevrolet Impala (up 3 percent).

Certified Used Vehicles
GM’s industry leading certified vehicle program sold approximately 39,383 total certified used vehicles in February, including the Cadillac, Saturn and Saab certified brands. The GM Certified Used Vehicle brand alone continued to post impressive numbers, selling 33,525 units. “Our February sales nearly doubled last year’s total, as we continue to grow our dealers’ used car business and increase our industry leadership,” said Smith.

GM Announces February Production Results, Q1 2003 Forecast Unchanged, Initial Q2 2003 Production Forecast

In February, GM produced 477,700 vehicles (191,570 cars and 286,130 trucks) in North America, compared to 463,000 vehicles (215,000 cars and 248,000 trucks) produced in February 2002. (Production totals include joint venture production of 14,150 vehicles in February 2003 and 8,000 vehicles in February 2002.)

Also, GM North America’s current First-quarter production forecast remains unchanged at 1.43 million vehicles (584,000 cars and 846,000 trucks). In the first quarter of 2002, GM North America produced 1.353 million vehicles (600,000 cars, 753,000 trucks).

Additionally, GM’s initial 2003 second-quarter production forecast for North America is 1,390,000 units (557,000 cars and 833,000 trucks). In the second quarter of 2002, GM North America built 1.553 million vehicles (688,000 cars and 865,000 trucks). The second quarter decrease in production is attributable to consumer and economic uncertainty as well as the effect of product start-ups and plant conversions.

GM also announced initial 2003 second-quarter production forecasts for its international regions:

GM Europe –The region’s initial second-quarter production forecast is 491,000 units. GM Europe built 453,000 units in the second-quarter of 2002.

GM Asia Pacific – GM Asia Pacific’s initial second-quarter forecast is 82,000 vehicles. GM Asia Pacific built 74,000 vehicles in the second-quarter of 2002.

GM Latin America, Africa and the Middle East – The region’s initial second-quarter production forecast is 145,000 units, compared to 141,000 units built in the second-quarter of 2002

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Note: 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 judgment on what the future may hold, and we believe these judgments 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 11-15, 16) 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.

Curr S/D: 24 Prev S/D: 24	February			Calendar Year-to-Date January - February
	2003	2002	% Chg per S/D	2003	2002	% Chg
Vehicle Total	333,572	411,111	-18.9	626,658	710,745	-11.8
Car Total	144,618	172,010	-15.9	289,093	288,643	0.2
Truck Total	188,954	239,101	-21.0	337,565	422,102	-20.0
Light Truck Total	186,549	236,294	-21.1	333,111	417,000	-20.1
Light Vehicle Total	331,167	408,304	-18.9	622,204	705,643	-11.8
Market Division Vehicle Total
Buick	28,697	34,260	-16.2	58,389	53,595	8.9
Cadillac	15,500	13,353	16.1	29,554	24,795	19.2
Chevrolet	182,235	235,788	-22.7	331,492	416,936	-20.5
GMC	36,460	47,880	-23.9	64,667	82,920	-22.0
HUMMER	2,713	38	***.*	5,570	90	***.*
Oldsmobile	11,203	15,805	-29.1	20,261	26,863	-24.6
Other - Isuzu	841	921	-8.7	1,597	1,695	-5.8
Pontiac	32,896	42,734	-23.0	68,532	67,946	0.9
Saab	3,598	2,699	33.3	6,149	4,274	43.9
Saturn	19,429	17,633	10.2	40,447	31,631	27.9
Sales of Domestically Produced Vehicles
Car	141,019	169,252	-16.7	282,941	284,255	-0.5
Light Truck	186,549	236,294	-21.1	333,111	417,000	-20.1
Twenty-four selling days for the February period this year and twenty-four for last year.
* American Isuzu Motors, Inc., dealer sales of commercial vehicles distributed by General Motors Corporation as reported to General Motors by American Isuzu Motors, Inc.