GM Posts Some Very Real Earnings: Rejoice!
Well, this is good news for both Camaro owners/lovers and also for people who generally like the American economy. It looks like GM's restructuring has started to actually work pretty well, as they've now posted three straight quarters of profits, a run which is highlighted by their current Q2 $1.3 Billion profits. GM posted $33.2 Billion revenue with $1.3 Billion profit, thanks in large part to the fantastic sales of some of its more marquee models. Chief amongst those models was the Camaro, which has paved the way for the American muscle to return front and center since its release a little more than a year ago.
These numbers also bode well for Camaro lovers as they mean that for the foreseeable future GM will have the capital to produce newer and better versions of their vehicles and provide the Gen 5 Camaro fantastic new features and facelifts every year. It also means that a Gen6 Camaro is pretty much a lock, which is a great thing. So, this is good news, and bodes well for the current economic recovery. With Ford doing reasonably well and GM looking like their old selves again (dear god, I meant that in the best way possible) it seems as though the automotive industry has rebounded well. Now, if only my house value would go back up...
More GM Marketing News
In business it is typically understood that when profits drop, marketing allotments are one of the first things to follow. So, the recent news that GM is ramping their marketing budget back up to pre-deficit numbers must be a good thing! This year GM will see a rise in their marketing budget of 5%. That number is also, surely, a testament to the faith that the company has in their new head of marketing, Joel Ewanick. Ewanick has been with GM right around 3 months now, and in that time has begun to make large strides forward. The first major sign of his progress was the recent Corvette ZR1 national ad campaign which began, but that is just the beginning. This year will also mark the beginning of a new, full-scale, Camaro marketing campaign. This campaign presents faith in both Ewanick and the Camaro, and is a positive sign for GM moving forward. Ewanick has also announced that GM, and specifically the Chevrolet brand, will be returning to the Super Bowl. Last year, during their financial troubles, GM sat out the Super Bowl marketing blitz completely. The return this year presents more positive news for the company's economic outlook. Rounding out Ewanick's big moves is his new Cadillac marketing scheme which will begin this year. Cadillac is being given a new brand slogan, and with this new slogan will come a national marketing campaign as well. The slogan, "The new standard for the world" is catchy, but a little long-winded. I am no marketing genius, mind you, but I can't help but wonder if simply "The new standard" isn't a catchier slogan. It seems to me that adding the "for the world" at the end of it creates a little redundancy. Of course, the second part may be included to highlight Cadillac's high-end performance battle with companies like BMW and Mercedes. Their CTS-V, which puts of 556 HP stock and provides an incredible combination of luxury and performance, and definitely put a little fear in the eyes of BMW and MB as it outperforms equivalent priced vehicles from those competitors line-ups (see BMW M3, 5 Series, and MB S-Class). All in all, this set of news coming from GM and their new head of marketing is incredibly positive and points towards fairer pastures ahead. Here's to you, Mr. Ewanick, and the bright future you bring.
GM’s New On*Star Smartphone App
GM has officially announced their future iPhone and Android Smartphone On*Star App and has released a video providing details in to its workings. It seems like a fantastic function that any GM owner will enjoy coupling with their vehicle, as it allows (and is not limited to) such features as remote start, door locks, and vehicle monitoring. The App provides distance beyond what the remote key-fobs give, as it can be utilized anywhere you have phone service. I can see this being incredibly handy when leaving work, a mall, or a sporting event on a hot day as it allows you to start the vehicle (and consequently the A/C) from far enough away for the vehicle to be cool inside by the time you reach it. The monitoring of fuel levels, tire pressure, and other basic vehicle statistics via the phone is also fairly incredible. While it doesn't seem like an absolute necessity, it is a very nice touch. I see no reason why somebody, with the capability to, wouldn't utilize it to some manner. The video below is short but sweet, and provides some solid information and insight in to the phone application's function. It's a smart move by GM in the proper technological step, and I imagine we'll be seeing other, more "luxurious", brands begin implementing similar systems in the near future.
Camaro For the Queen! and Convertible Camaros!
GM just announced that we'll be sending some American love to the lands of our British friends some time this year by releasing the Camaro in the UK! This is pretty cool, and it will certainly sell well there, even though the price of petrol will cause some customers to shy away. GM has not yet announced price points on the Camaro in the UK, or an exact date for when it will go on sale, but has stated that they will provide an official view of the Right-Hand Drive Camaro at the Goodwood Moving Motor Show on July 1st. In all, this is good news for GM, as the current strength of the British Pound ensures that GM will make a decent profit on their sales in the UK, even after the importing cost. The same packages and engine arrangements will be offered in the UK as in the US.
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Some more spy images of the preproduction Camaro convertible have hit the web today. The vehicles, two of them in total, were spotted in Canada out in some nasty weather for test drives. Hopefully we'll be able to get some glimpses of them with their tops down soon, too! As it was though, the drop-tops were there as protection from the elements (which was much needed on the day in mention!). The drop-tops look fantastic up though, and show the commitment to the Camaro Convertible that GM currently has. Expect to see the Camaro Convertible hitting show rooms early next year!
GM Makes $865 Million 1st Quarter Profit
Times had been rough for GM for awhile. This past year their numbers improved, but they were still stuck in a 10 quarter span of losses. This quarter, that bad streak has officially been broken though. Behind strong sales numbers from vehicles like the Camaro and Corvette, backed by a strengthening U.S. Economy and their own company restructuring, it appears as though GM has turned the corner and is looking to brighter pastures ahead. This $865 Million profit is a stark contrast to their same 1st quarter last year, where in the midst of company restructuring and bankruptcy, GM posted losses of $6 Billion. Of course, at that time, the Camaro had not yet been released (a major player in the improved economic situation for GM, combined with Chevrolet's Equinox , the GMC Terrain, Buick Lacrosse and Cadillac SRX sold in April at a combined rate nearly 300% over the vehicles they replaced). These vehicles have been so key, in fact, that they have accounted for more than 110,000 of the 183,614 vehicles GM sold last month.
What all of this positive economic news from GM means for us Camaro lovers and fans is a few thing: firstly, the positive economic situation means they can then reroute extra cash to developing further improvements for their vehicle line-up, such as new Camaro models (i.e. Z28 maybe!); secondly, that the Camaro is not the end-all be-all for them as it is, and they understand now in restructuring that they have to continually improve and evolve their vehicle line to make newer and greater vehicles as time progresses, and this also is a positive sign for what the Camaro's future holds. All in all, some great news for GM, GM fans, and the country in general in these positive numbers. Now, let's just hope that they keep rising!
Camaro Sales Rise, Mustang Sales Stagnate
Now, I am never happy or excited to report on something of this nature, but the Camaro's incredible sales have resulted in lay-offs at the factory where Mustangs are produced by Ford, as their sales have declined drastically. Nearly 900 positions were cut by Ford, which is by no means a happy bit of news. Of course, the flip side to this is that the Camaro production run resulted in many more hirings than 900 when it began, and its increased production and popularity has meant more hirings on the GM front. Who knows, maybe some of those former Ford employees may even be able to find work with GM. I hope they find work somewhere, best of luck to all people who lost their jobs at Ford because the Mustang is not as cool as the Camaro.
As for the Camaro, well, short of being too awesome it has done nothing wrong. Its sales continue to rise, and its popularity grows with each day that passes as it has more and more accolades lavished upon it. Here's to the future of the Camaro, may it continue to dominate the Sports Coupe market for years to come!
Camaro December Sales Numbers
Well, the Camaro is staying strong! A look at the December numbers for sales, and the 2009 production numbers are quiet impressive, and definitely offer a lot of hope towards GM's future. Let's also remember that the Camaro outsold the Mustang (by a considerable margin) for the 7th month in a row, which is its direct, popular, competitor.So, here's to selling another 60k+ Camaros in 2010 for you GM! If they want to guarantee improved numbers too they'll have to give the public new options. Maybe we'll see the return of the Z28 finally come to fruition this year! We can only hope!
Production Stats:
Camaros produced in December 09: 8,368
Total Camaros produced to date (since March 16, 2009): 82,188
Delivery (sales) Stats:
Camaro December Deliveries (actual sales): 7,548
Total April - December Deliveries (actual sales): 61,648