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Weak fleet sales cause 1.5% decline in General Motors’ overall sales


Apr 3, 2024

General Motors experienced a small decrease in sales during the first quarter, mainly due to challenges in its fleet business. However, the company managed to maintain its position as the top-selling automaker in the United States. Despite selling 594,233 new vehicles from January to March, which was a 1.5% decrease from the previous year, General Motors saw a 6% increase in retail sales compared to early 2023. This improvement helped the company surpass Toyota’s U.S. sales of 565,098 vehicles.

One standout performer for General Motors was its pickup lineup, which experienced a 3.6% increase in sales, marking the best quarter since the start of the pandemic. On the other hand, sales of electric vehicles (EVs) saw a significant drop due to software issues and production delays, particularly affecting the Chevrolet Bolt. Moreover, fleet sales for the automaker decreased by approximately 23% from the previous year.

Of all the brands under General Motors, only Buick reported an increase in year-over-year sales, with a growth of 16.4%. While overall pickup deliveries improved, the company’s GMC brand focused on trucks saw a decline of around 5%. Sales for Chevrolet and Cadillac also experienced marginal decreases compared to the previous year.

Despite the slight decline in General Motors’ sales, there has been an overall increase in demand in the automotive industry. Edmunds forecasts quarterly sales of approximately 3.8 million units, up by 5.6% year-over-year. It is noted that Asian brands, led by Toyota’s 20% sales increase, are likely to be the main drivers of this growth. The competition among foreign companies, including Honda and Hyundai, for American consumers is intensifying.

By editor

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