November 27, 2022

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GM’s third-quarter sales increased 24% over 2021 totals

GM's third-quarter sales increased 24% over 2021 totals

People look at the Cadillac Lyric electric car at the Cadillac booth at the North American International Auto Show in Detroit, Michigan on September 14, 2022.

Jeff Robbins | AFP | Getty Images

Detroit – ‘General Engines’ Auto sales in the third quarter were up 24% compared to a year ago, when supply chain issues further impacted the company’s production.

The Detroit automaker said Monday that it sold 555,580 vehicles from July through September, up from 447,000. a year ago, when sales fell due to supply problems related to Malaysia for semiconductor chips. The increase was in line with or above expectations of industry analysts for an increase of at least 21.6%.

Regarding electric vehicles, General Motors said it plans to ramp up production Chevrolet Bolt EV and EUV After the cars posted their best quarterly sales ever at 14,709 units. GM intends to increase calendar year production for global markets from about 44,000 vehicles in 2022 to more than 70,000 in 2023.

The surge in GM’s older Bolt models contrasts with the production of the expensive GMC Hummer EV pickup. As of late November, the company said Monday that it will pause production of the pickup truck for several weeks in order to move forward with the chassis shop upgrades. The upcoming electric Chevrolet Silverado.

The company has been producing the Hummer EV pickup, which was the first vehicle to feature GM’s next-generation Ultium platform and batteries, at a slower pace than its typical production of vehicles.

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GM didn’t immediately release sales of individual vehicles like the Hummer EV, which it usually owns every quarter.

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General Motors is among the first major automakers to report third-quarter sales on Monday. Overall, analysts estimate that automakers sold 3.4 million new lightweight vehicles in the United States, down less than 1% from the same period last year.

Automakers continue to grapple with supply chain issues – from semiconductors and wire harnesses to smaller parts like these As vehicle and company logos.

GM ended the third quarter with 359,292 vehicles in dealer inventory, including trans units, an increase of 111,453 units from the previous quarter. That’s nearly triple the stock available at the end of the third quarter of 2021, when supply chain issues related to Covid affected production.

This is an evolving story. Please check back for additional updates.