GM Achieves Record U.S. Quarterly Sales in 2021

Money | July 2, 2024, 10:14 a.m.

General Motors had a successful second quarter with its best sales in over three years, driven by strong demand for full-size pickup trucks and all-electric vehicles. The Detroit automaker reported sales of 696,086 units, a 0.6% increase from the previous year, with electric vehicle deliveries up 40% to 21,930 units. Despite this growth, EVs only made up 3.2% of total sales. Sales of GM's full-size pickup trucks were also impressive, reaching around 229,000 units, the best quarterly sales since 2021. However, GM's total sales for the first half of the year were down 0.4% compared to the previous year. The industry is cautiously optimistic about sales in the second quarter despite cyberattacks on dealer software provider CDK Global impacting sales at dealerships. GM is working to meet strong customer demand despite the challenges posed by the cyberattack. Other automakers such as Toyota and Hyundai also reported strong sales for the quarter.