General Motors 2013 Annual Report Download - page 35

GENERAL MOTORS COMPANY AND SUBSIDIARIES
GMSA Total Net Sales and Revenue and EBIT-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 .... $ 16,478 $ 16,700 $ (222) (1.3)% $ — $ 0.6 $ 0.9 $ (1.7) $ (0.2)
EBIT-adjusted .............. $ 327 $ 457 $ (130) (28.4)% $ — $ 0.3 $ 0.9 $ (1.3) $ (0.1)
(Vehicles in thousands)
Wholesale vehicle sales ....... 1,053 1,050 3 0.3%
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 ..... $ 16,700 $ 16,632 $ 68 0.4% $ (0.6) $ 1.6 $ 0.5 $ (1.4) $ 0.1
EBIT-adjusted ............... $ 457 $ 158 $ 299189.2% $ (0.2) $ 0.4 $ 0.5 $ (0.4) $ 0.3
(Vehicles in thousands)
Wholesale vehicle sales ....... 1,050 1,090 (40) (3.7)%
n.m. = not meaningful
GMSA Total Net Sales and Revenue
In the year ended December 31, 2013 Total net sales and revenue decreased due primarily to: (1) Other of $1.7 billion due primarily to
unfavorable net foreign currency effect due to the strengthening of the U.S. Dollar against the Brazilian Real and Argentinian Peso and the
devaluation of the Venezuelan Bolivar of $1.9 billion; partially offset by increased revenue from parts and accessories sales of $0.1 billion;
partially offset by (2) favorable vehicle pricing primarily due to high inflation in Venezuela and Argentina; and (3) favorable vehicle mix due
to increased sales of the Chevrolet Trailblazer, Chevrolet Captiva, Chevrolet Orlando, Chevrolet Tahoe and Chevrolet S10.
In the year ended December 31, 2012 Total net sales and revenue increased due primarily to: (1) favorable vehicle mix due to
increased sales of Chevrolet Cruze and Chevrolet S10; and (2) favorable vehicle pricing primarily due to high inflation in Venezuela
and Argentina; partially offset by (3) decreased wholesale volumes due to deteriorated market share driven by increased competition
and aggressive pricing in the market; and (4) Other of $1.4 billion due primarily to unfavorable net foreign currency effect due to the
strengthening of the U.S. Dollar against the Brazilian Real and Argentinian Peso and the devaluation of the BsF of $1.5 billion;
partially offset by increased revenue from parts and accessories sales of $0.1 billion.
GMSA EBIT-Adjusted
In the year ended December 31, 2013 EBIT-adjusted decreased due primarily to: (1) Other of $1.3 billion due primarily to
unfavorable net foreign currency effect as a result of the strengthening of the U.S. Dollar against the Brazilian Real and Argentinian
Peso and the devaluation of the Venezuelan Bolivar of $1.1 billion; increased selling, general and administrative expense mainly due
to a decrease in contingency reserves of $0.1 billion in the corresponding period of 2012 due to the resolution of certain items at
amounts lower than previously expected; and a gain of $50 million on the purchase of GMAC de Venezuela CA in the corresponding
period of 2012; partially offset by (2) favorable vehicle pricing effect primarily driven by high inflation in Venezuela and Argentina;
and (3) favorable net vehicle mix.
In the year ended December 31, 2012 EBIT-adjusted increased due primarily to: (1) favorable vehicle pricing; and (2) favorable net
vehicle mix; partially offset by (3) unfavorable net wholesale volumes; and (4) Other of $0.4 billion due primarily to increased
material, freight and manufacturing costs of $0.5 billion; and increased administrative and advertising and sales promotion expenses
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