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GM
Detroit – general motors’ US auto sales increased 18.8% in the second quarter, compared to weak results a year ago when the automaker was grappling with supply chain issues.
The Detroit automaker reported Wednesday sales of 691,978 new vehicles from April through June. This compares to 582,401 vehicles during the second quarter of 2022. This is also a sequential increase compared to GM’s first-quarter sales of just over 600,000 new cars and trucks.
GM’s sales in the second quarter, along with those of other automakers such as Honda Motor, Nissan Motor and Stellantis, indicate that demand for new cars is rebounding as car and truck inventories improved from historically low levels during the coronavirus pandemic and supply chain problems.
Auto industry experts expect industry sales to rise 16% to 18% during the second quarter compared to a year earlier.
Cox Automotive recently increased its full-year new vehicle sales forecast to 15 million for the broader industry, up nearly 8% from 2022, when sales ended at 13.9 million due to lower inventory levels and inflated prices.
GM said retail sales increased 15% in the first half of the year, while its fleet business jumped 30%.
GM electric vehicle sales topped 36,300 during the first half of this year, including 15,652 in the second quarter.
The company said earlier that it plans to produce 50,000 electric vehicles during the first half of the year, followed by 100,000 during the second half of the year. A GM spokesperson did not immediately comment on whether the company had completed 50,000 units through June as production trail sales.
General Motors maintained its position as the nation’s largest automaker through the first six months of the year, with sales of nearly 1.3 million vehicles. The Detroit automaker regained that decades-old title last year after Toyota Motor took the top spot in 2021. That year marked the first time since 1931 that General Motors wasn’t the best-selling automaker in the United States.
On Wednesday, Toyota reported sales of more than 1 million vehicles in the United States through June.
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