General Motors 2013 Annual Report Download - page 31

GENERAL MOTORS COMPANY AND SUBSIDIARIES
GME Total Net Sales and Revenue and EBIT (Loss)-Adjusted
Years Ended December 31,
Year Ended
2013 vs. 2012 Change Variance Due To
2013 2012
Favorable/
(Unfavorable) % Volume Mix Price Other Total
(Dollars in millions) (Dollars in billions)
Total net sales and revenue ........ $ 20,110 $ 20,689 $ (579) (2.8)% $ (0.6) $ — $ (0.2) $ 0.2 $ (0.6)
EBIT (loss)-adjusted ............. $ (844) $ (1,939) $ 1,095 (56.5)% $ (0.1) $ (0.2) $ (0.2) $ 1.6 $ 1.1
(Vehicles in thousands)
Wholesale vehicle sales .......... 1,047 1,079 (32) (3.0)%
Years Ended December 31,
Year Ended
2012 vs. 2011 Change Variance Due To
2012 2011
Favorable/
(Unfavorable) % Volume Mix Price Other Total
(Dollars in millions) (Dollars in billions)
Total net sales and revenue ........ $ 20,689 $ 25,154 $ (4,465) (17.8)% $ (2.4) $ 0.4 $ (0.2) $ (2.3) $ (4.5)
EBIT (loss)-adjusted ............. $ (1,939) $ (1,041) $ (898) 86.3% $ (0.5) $ (0.4) $ (0.2) $ 0.2 $ (0.9)
(Vehicles in thousands)
Wholesale vehicle sales ........... 1,079 1,240 (161) (13.0)%
GME Total Net Sales and Revenue
In the year ended December 31, 2013 Total net sales and revenue decreased due primarily to: (1) decreased wholesale volumes due
to the weak European economy; and (2) unfavorable vehicle pricing primarily resulting from increased incentive support associated
with difficult market conditions; partially offset by (3) Other of $0.2 billion due primarily to favorable net foreign currency effect.
In the year ended December 31, 2012 Total net sales and revenue decreased due primarily to: (1) decreased wholesale volumes due
to the weak European economy; (2) unfavorable price effects primarily resulting from increased incentive support associated with
strong competition; and (3) Other of $2.3 billion due primarily to unfavorable net foreign currency effect of $1.7 billion resulting from
the strengthening of the U.S. Dollar against the Euro, Russian Ruble, Hungarian Forint, Turkish Lira and British Pound; decreased
parts, accessories and powertrain engine and transmission sales of $0.5 billion associated with lower demand; and a decrease of $0.1
billion due to the deconsolidation of VMM in June 2011; partially offset by (4) favorable vehicle mix due to the new generation Astra
GTC, Opel Mokka and Ampera and increased sales of other higher priced vehicles.
GME EBIT (Loss)-Adjusted
In the year ended December 31, 2013 EBIT (loss)-adjusted decreased due primarily to: (1) Other of $1.6 billion due primarily to
decreased manufacturing costs of $0.7 billion mainly resulting from decreased depreciation expense because of asset impairments in
December 2012, which decreased the depreciable base; decreased engineering expenses of $0.3 billion; favorable material and freight
costs of $0.3 billion; and a favorable net effect of changes in the fair value of an embedded foreign currency derivative asset of $0.2
billion associated with a long-term supply agreement; partially offset by (2) unfavorable net vehicle mix due to lower proportion of
higher priced vehicles; (3) unfavorable vehicle pricing; and (4) decreased wholesale volumes.
In the year ended December 31, 2012 EBIT (loss)-adjusted increased due primarily to: (1) decreased wholesale volumes;
(2) unfavorable net vehicle mix; and (3) unfavorable price effects; partially offset by (4) Other of $0.2 billion due primarily to lower
manufacturing and material costs of $0.4 billion; and favorable net foreign currency effect of $0.1 billion resulting from the
strengthening of the U.S. Dollar against the Euro, Russian Ruble, Hungarian Forint, Turkish Lira, and British Pound; partially offset
by a decrease of $0.2 billion resulting from the net effect of changes in an embedded foreign currency derivative asset associated with
a long-term supply agreement; and decreased parts, accessories and powertrain engine and transmission sales of $0.2 billion,
associated with lower demand.
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