GM second-quarter sales increase 18.8% as supply chain stabilizes

Detroit – General Motors’ U.S. auto sales rose 18.8% in the second quarter compared with a year-ago lackluster performance as the automaker grapples with 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 industry sales to grow 16% to 18% in the second quarter 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’s EV sales topped 36,300 in the first half of the year, including 15,652 in the second quarter.

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 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 2021 at the top of the list.That year was the first time since 1931 that GM wasn’t the best-selling car company in America

Wednesday, Toyota report As of June, US auto sales topped 1 million.