Welcome to Extreme Investor Network, where we provide you with the latest and most valuable information on business news. Today, we are diving into General Motors’ first-quarter sales report and how other major automakers are performing in the current market.
General Motors reported a 1.5% decline in first-quarter U.S. vehicle sales compared to a year ago, with a total of 594,233 vehicles sold. The decline was mainly attributed to a decrease in fleet customer sales by 22.9%, while retail sales to customers increased by 6%. Buick was the only GM brand to see a sales increase, up 16.4% from a year earlier. GM’s full-size pickups also performed well, totaling roughly 197,000 units, marking its best performance since the first quarter of 2020.
GM’s all-electric vehicle sales remained low during the first quarter, with EV sales totaling 16,425 units, or 2.8% of the automaker’s overall sales. The company is ramping up production of its newest EVs, including the Cadillac Lyriq and Blazer EV, while phasing out sales of Chevrolet Bolt models.
In the wider automotive industry, Hyundai reported its best March sales ever last month, with 76,920 vehicles sold. However, first-quarter sales were only up 0.2% compared to a year earlier. Hyundai’s luxury brand, Genesis, saw a 7.3% increase in sales year over year during the first quarter.
Other major automakers reported varying results for the first quarter, including Toyota Motor’s 16% increase in sales, Honda Motor’s 17.3% jump, and Nissan Group’s 7.2% increase. EV startup Rivian Automotive also reported strong numbers, with vehicle deliveries reaching 13,588 during the first quarter.
As the auto industry normalizes after years of disruptions, companies are navigating increased competition and changing market dynamics. Stay tuned to Extreme Investor Network for more exclusive insights and analysis on the latest business news and trends.
