• Sun. Apr 14th, 2024

GM Holds onto Top Spot as Sales Slightly Decline Amid Challenges in Fleet and Electric Vehicles

BySamantha Nguyen

Apr 3, 2024
General Motors experiences a 1.5% decline in sales due to weakened fleet business

General Motors saw a slight decline in sales during the first quarter, mainly due to challenges in its fleet business. However, the company still held onto its position as the top-selling automaker in the U.S., with retail sales increasing by 6% compared to the previous year. Despite this overall decrease, GM sold 594,233 new vehicles from January to March, only a 1.5% decrease from the year before.

One of GM’s biggest successes was in its pickup lineup, which saw an impressive 3.6% growth in sales during the quarter. This was the best performance since the start of the COVID-19 pandemic. On the other hand, sales of GM’s electric vehicles took a hit due to software issues and production delays, particularly affecting the Chevrolet Bolt. Fleet sales for GM dropped by approximately 23% compared to last year.

Among GM’s brands, only Buick reported an increase in sales, up by 16.4% year-over-year. While overall pickup deliveries improved slightly, GMC experienced a 5% decline in sales during the quarter. Sales for Chevrolet and Cadillac also decreased compared to last year but were not as significant as fleet or electric vehicle sales.

Despite these challenges for GM, demand for vehicles has increased overall across all brands. Edmunds forecasts that quarterly sales will reach around 3.8 million units – a 5.6% increase from last year’s figures – indicating strong consumer demand for new cars and trucks despite ongoing supply chain disruptions and production delays caused by COVID-19 and other factors.

In addition to GM’s struggles with fleet and electric vehicle sales, foreign automakers like Honda and Hyundai have also gained more market share over this period due to their strong performances during Q1 2021

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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