People take a look at the Cadillac Lyriq electrical car on the Cadillac sales space on the North American International Auto Show in Detroit, Michigan on September 14, 2022.
Geoff Robins | AFP | Getty Images
DETROIT – General Motors’ third-quarter car gross sales elevated 24% in comparison with a yr in the past, when provide chain points weighed extra closely on the corporate’s output.
The Detroit automaker on Monday stated it offered 555,580 automobiles from July by means of September, up from about 447,000 a yr earlier, when gross sales had been depressed attributable to Malaysia-related provide problems with semiconductor chips. The enhance was in step with or increased than trade analysts’ expectations of an not less than 21.6% enhance.
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Regarding electrical automobiles, GM stated it plans to extend manufacturing of its Chevrolet Bolt EV and EUV after the automobiles recorded their greatest quarterly gross sales ever at 14,709 models. GM intends to spice up calendar-year manufacturing for international markets from roughly 44,000 automobiles in 2022 to greater than 70,000 in 2023.
The enhance for GM’s older Bolt fashions is in distinction to manufacturing of the expensive GMC Hummer EV pickup. Beginning in late November, the corporate on Monday stated it’ll pause manufacturing of the pickup for a number of weeks to tug forward physique store upgrades for the upcoming electrical Chevrolet Silverado.
The firm has been producing the Hummer EV pickup, which was the primary car to characteristic GM’s next-generation Ultium batteries and platform, at a snail’s tempo in comparison with its typical output of automobiles. The automaker has solely offered 782 Hummer EVs, which presently price greater than $100,000.
Through the primary 9 months of the yr, GM’s gross sales totaled 1.65 million, down 7.1% in comparison with the identical time interval in 2021.
GM ended the third quarter with 359,292 automobiles in vendor stock, together with models in-transit, a rise of 111,453 models from the earlier quarter. That’s practically 3 times the stock out there on the finish of the third quarter of 2021, when Covid-related provide chain points impacted manufacturing.
GM was among the many first main automakers to report third-quarter gross sales Monday. Overall, analysts estimate automakers offered 3.4 million new light-duty automobiles within the U.S., down lower than 1% from the identical time final yr.
Automakers proceed to cope with provide chain points – from semiconductors and wire harnesses to smaller elements corresponding to car and firm logos.
Others automakers to report September and/or third-quarter gross sales embrace:
Toyota Motor stated its third-quarter gross sales declined 7.1% from the identical time final yr to 526,017 automobiles.Stellantis (previously Fiat Chrysler) offered 385,665 automobiles in the course of the third quarter, down about 6%.Hyundai Motor reported gross sales of 184,431 within the third quarter, up about 3%.Honda Motor stated its gross sales declined 36% from the identical time final yr to 222,050 automobiles.Nissan Motor offered 154,086 automobiles in the course of the third quarter, down about 23%.BMW reported gross sales elevated 3.8% from the identical time final yr to 85,209 automobiles.