GM Says 2Q Sales Up 40% On Year
July 01 2021 - 10:34AM
Dow Jones News
By Michael Dabaie
General Motors Co. said it sold 688,236 vehicles in the U.S. in
the second quarter, up 40% from a year ago.
The auto maker said the quarterly sales happened in "a unique
market bolstered by strong customer demand, but constrained by low
inventories resulting from the global semiconductor shortage."
GM ended the quarter with 211,974 units in inventory, down from
334,628 at the end of the first quarter.
GM said fleet sales, which were severely affected by pandemic
shutdowns a year ago, are beginning to recover as the company
prioritizes production of its most in-demand vehicles. Fleet
deliveries were up 69% year over year in the second quarter, the
company said.
GM fleet sales were about 14% of total sales, which is lower
than the company's pre-pandemic fleet mix of about 20%, due to
supply constraints caused by the semiconductor shortage. Rental
sales represented 4% of GM's total sales, the company said.
The company said it is taking steps to meet customers' future
needs. GM said production of HD pickups will increase by about
1,000 trucks per month beginning in mid-July as a result of
production line efficiencies. GM also said it will return full-size
pickup production to Oshawa Assembly in Canada at the end of
2021.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
July 01, 2021 11:29 ET (15:29 GMT)
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