General Motors 2015 Annual Report Download - page 36
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Table of Contents
In the year ended December 31, 2015 EBIT-adjusted increased due primarily to: (1) favorable pricing and mix in the Middle East due primarily to sales of
new full-size trucks and SUVs; and (2) favorable Other of $0.1 billion due primarily to favorable material and freight costs of $0.2 billion, offset by
unfavorable foreign currency effect of $0.2 billion; partially offset by (3) decreased net wholesale volumes.
In the year ended December 31, 2014 EBIT-adjusted decreased due primarily to: (1) decreased wholesale volumes; and (2) unfavorable net vehicle mix due
primarily to higher cost of the Commodore sedan and Colorado in Australia; partially offset by (3) favorable vehicle pricing; and (4) favorable Other of $0.6
billion due primarily to favorable engineering cost of $0.3 billion, favorable equity income from Automotive China JVs of $0.3 billion and favorable fixed
costs of $0.1 billion related to manufacturing costs and depreciation, amortization and impairment charges.
Total net sales and revenue $ 7,820
$ 13,115
$ (5,295)
(40.4)%
$ (3.9)
$ 0.6
$ 0.9
$ (2.9)
EBIT (loss)-adjusted $ (622)
$ (180)
$ (442)
(245.6)%
$ (0.7)
$ 0.1
$ 0.9
$ (0.8)
Wholesale vehicle sales 603
886
(283)
(31.9)%
Total net sales and revenue $ 13,115
$ 16,478
$ (3,363)
(20.4)%
$ (2.4)
$ 0.1
$ 1.1
$ (2.1)
EBIT (loss)-adjusted $ (180)
$ 327
$ (507)
n.m.
$ (0.5)
$ (0.1)
$ 1.1
$ (1.0)
Wholesale vehicle sales 886
1,053
(167)
(15.9)%
________
n.m. = not meaningful
In the year ended December 31, 2015 Total net sales and revenue decreased due primarily to: (1) decreased wholesale volumes associated with lower
demand for the Chevrolet Celta, Onix and Prisma small vehicles and Cobalt sedan in Brazil and decreases across the portfolio primarily in Chile and
Colombia caused by difficult economic conditions; and (2) unfavorable Other of $2.9 billion due primarily to unfavorable foreign currency effect due to the
weakening of all currencies across the region against the U.S. Dollar; partially offset by (3) favorable pricing due primarily to high inflation in Venezuela and
Argentina; and (4) favorable vehicle mix due to decreased sales of lower priced vehicles in Brazil and increased sales of the Chevrolet Silverado and Cruze in
Venezuela.
In the year ended December 31, 2014 Total net sales and revenue decreased due primarily to: (1) decreased wholesale volumes associated with lower
demand for the Chevrolet Celta, Classic and Agile small vehicles in Brazil and decreases across the portfolio in Argentina and Venezuela caused by difficult
economic conditions; and (2) unfavorable Other of $2.1 billion due primarily to unfavorable net foreign currency effect due to the strengthening of the U.S.
Dollar against all currencies across the region; partially offset by (3) favorable vehicle pricing primarily due to high inflation in Argentina and Venezuela.
In the year ended December 31, 2015 EBIT (loss)-adjusted increased due primarily to: (1) decreased wholesale volumes; and (2) unfavorable Other of $0.8
billion due primarily to net unfavorable foreign currency effect of $0.6 billion due to the weakening of all currencies across the region against the U.S. Dollar,
which includes favorable impact of $60 million in Argentina; partially offset by (3) favorable pricing; and (4) favorable product mix.
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