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GM’s Sales Increase 40% on Strong Consumer Demand
Despite constrained inventory and a global semiconductor shortage, GM sold 40% more vehicles in its second quarter.
Like virtually every automaker, GM has been impacted by a global semiconductor shortage, as a result of the COVID-19 pandemic. GM has been forced to halt production at some plants, and has resorted to shipping some trucks without their full complement of fuel economy chips, resulting in 1 MPG less for the life of the vehicle.
Despite these challenges, GM posted sales of some 688,236 vehicles in the US during the second quarter. This represents an increase of 40% over the year-ago quarter.
The company’s SUV and EV sales were an especially strong bright spot. The Chevy Bolt EV, along with the Traverse SUV, had its best ever second-quarter and first-half sales.
“The U.S. economy is accelerating, consumer spending is robust and jobs are plentiful,” said Elaine Buckberg, GM chief economist. “Consumer demand for vehicles is also strong, but constrained by very tight inventories. We expect continued high demand in the second half of this year and into 2022.”
“The agility and creativity of our supply chain, purchasing, engineering and manufacturing teams, in collaboration with our suppliers and dealers, have helped us continue to satisfy customers and gain market share in some of the highest demand segments of the market,” said Kurt McNeil, U.S. vice president, Sales Operations.
GM’s Sales Increase 40% on Strong Consumer Demand
Matt Milano
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