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General Motors
Detroit – General Motors’ U.S. auto sales rose 18.8% in the second quarter, compared with lackluster results a year ago when automakers faced supply chain issues.
detroit automakers report sales New vehicle sales for the April-June period came in at 691,978 on Wednesday. This compares to sales of 582,401 vehicles in the second quarter of 2022. That’s also up sequentially from GM’s first-quarter sales of just over 600,000 new cars and trucks.
Second-quarter sales by General Motors and other automakers including Honda, Nissan and Stellantis showed demand for new vehicles remained strong as car and truck inventories improved from record lows during the coronavirus pandemic and supply chain problems. strong.
Auto industry forecasters expect second-quarter U.S. new vehicle sales to rise 16% to 18% from a year earlier.
Cox Automotive recently raised its industry-wide full-year new-vehicle sales forecast to 15 million, up nearly 8% from 2022, when sales will eventually reach 13.9 million due to low inventory levels and rising prices.
GM said retail sales rose 15 percent in the first half of the year, while fleet business grew 30 percent.
GM maintained its status as the largest U.S. automaker in the first six months of the year, with sales rising 18.3 percent to nearly 1.3 million vehicles.The Detroit automaker regained its decades-long title last year Toyota Automotive Top of the list in 2021.That year was the first time since 1931 that General Motors wasn’t America’s best-selling car company
Wednesday, Toyota report As of June, US auto sales topped 1 million.
electric car sales
GM’s EV sales topped 36,300 in the first half of the year, including 15,652 in the second quarter. EVs accounted for just 2.8% of the company’s total sales in the first half of this year.
The company previously said it planned to produce 50,000 electric vehicles in the first half of the year and 100,000 in the second half.
A GM spokesman reconfirmed those goals on Wednesday but had no immediate comment on whether the company had met them. Sales track production due to logistics and inventory of dealer batches. The automaker is expected to discuss further production details when it reports second-quarter earnings on July 25, the spokesman said.
GM has been criticized for not ramping up electric vehicle production fast enough as tesla continue to dominate the US market.
The vast majority, or about 93%, of GM’s electric vehicle sales through the first six months of the year were sales of its outgoing Chevrolet Bolt model, which is due to end production later this year. GM has been slow to increase production of new electric vehicles such as the GMC Hummer and Cadillac Lyriq. The new electric car and its battery are collectively known as the Ultium car.
GM Chief Executive Mary Barra reiterated last week that production of the company’s new electric vehicles is being constrained because domestic production of its batteries is taking longer than expected.
“When people ask me if I can push a button and do something all over again, I’m going to do an electric car faster, but I just don’t,” she said at the Aspen Ideas Festival on June 26. From where we are now, we will go as fast as we can.”
GM rolled out several important electric vehicles in the second half of the year, including new versions of the Chevrolet Silverado, Blazer and Equinox. It also unveiled a new electric van and the Celestiq, a custom Cadillac EV worth more than $300,000.
Disclosure: NBCUniversal News Corporation (owned by CNBC) is a media partner of the Aspen Festival of Ideas.
