Request from Milton Snide: With so many profits and sales on GM (and Ford and RAM and GMC) building and selling large vehicles, why aren’t they everywhere promoting ethanol to replace gasoline so that all the bullshit of electric vehicles and MPG could disappear? [email protected]
More than 40% of U.S. retail customers in the full-size pickup market purchased Chevrolet and GMC trucks in the first quarter, while the retail share of full-size SUVs approached 70%
DETROIT – General Motors Co. sold 512,846 vehicles in the United States in the first quarter of 2022, with improved semiconductor supply supporting higher production and market share in key truck segments.
“Our ability to meet pent-up demand has improved significantly thanks to the tremendous efforts of our supply chain and manufacturing teams to keep our factories operating at near-normal levels,” said Steve Carlisle, executive vice president and president of GM North America. “Supply chain disruptions are not entirely behind us, but we expect to continue to exceed 2021 production levels, particularly in the second half.”
According to GM Chief Economist Elaine Buckberg, industry light vehicle volumes will increase this year and reach 2021 levels, thanks to a strong labor market, higher vehicle production and demand. repressed.
“Normally, such a strong US economy would translate to light vehicle sales in the 17 million range,” she said. “Supply chain improvements should boost auto sales this year, despite headwinds from rising inflation and fuel prices.”
Highlights of production, deliveries and stocks
GM estimates the total number of SAAR light vehicles for the first quarter was 14.1 million, down from 16.8 million a year ago, due to lower inventory and production levels. GM’s first-quarter deliveries were down 20% from a year ago, but up 16% from the fourth quarter.
GM’s production in North America has increased sequentially every quarter since late September 2021, and the company ended the first quarter with 273,760 vehicles in inventory at dealerships, including units in transit, which are increasing. Inventories were 128,757 units at the end of the third quarter of 2021 and 199,662 at the end of the fourth quarter. GM expects inventories to remain relatively low throughout the year due to strong demand.
GM extends truck leadership
GM’s performance, coupled with a more stable operating environment, has already translated into market share gains for GM in key truck segments:
- According to JD Power PIN, the combined retail market share of Chevrolet Silverado HD and GMC Sierra HD pickup trucks led the segment at 41.5% in the first quarter, up more than 10 percentage points from a year ago and GM’s strongest quarter in HD retail. market share in more than a decade.
- The Chevrolet Silverado 1500 and GMC Sierra 1500 also led their segment during the quarter, with a combined retail market share of nearly 42%, up 2.6 points year-over-year, according to JD Power PIN.
- The combined retail market share of the Chevrolet Tahoe, Chevrolet Suburban and GMC Yukon and Yukon XL reached 69% in the first quarter, up 5 points year-over-year. GM’s sales in this segment increased 10%.
- The Cadillac Escalade had its best first quarter since 2007, with sales up 7%.
Another sign of robust economic growth, commercial customers are modernizing and expanding their fleets. GM posted its best commercial sales quarter in nearly three years, with sales velocity at the end of the quarter hitting a 15-year high. In the commercial market, sales of full-size pickups increased by 5%, those of compact SUVs by 131% and those of midsize pickups by 23%.
In the first quarter, total Chevrolet Low Cab Forward deliveries were up 48 percent from a year ago. The medium-duty Chevrolet Silverado lineup, which is a popular choice for upfitters, grew 23 percent.
Fleet sales, which accounted for 24% of GM’s total first-quarter sales, were up 10% year-over-year, with commercial and government deliveries up 14% and 18%, respectively. Chevrolet Tahoe sales to government customers increased 243%.
Production of electric vehicles is accelerating
In the first quarter, GM achieved several milestones as the company expands electric vehicle capacity in North America to more than one million units by the end of 2025.
- The launch of the HUMMER EV by GMC is proceeding on schedule, with early production focused on fulfilling Launch Edition orders.
- Production of the Chevrolet Bolt EV and Bolt EUV will resume on April 4. Chevrolet dealerships continue to repair customer vehicles and recently resumed shipments of certain completed Bolt EVs and Bolt EUVs in stock.
- Production of the Cadillac LYRIQ began on March 21, nine months ahead of the company’s original target. Cadillac will begin taking orders for future editions on May 19.
General Engines is a global company focused on advancing an all-electric future that is inclusive and accessible to everyone. At the heart of this strategy is the Ultium battery platform, which powers everything from consumer vehicles to high-performance vehicles. General Motors, its subsidiaries and joint ventures sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. For more information about the company and its subsidiaries, including OnStar, a global leader in vehicle safety and security services, visit https://www.gm.com.