Weak fleet sales cause 1.5% decline in General Motors’ overall sales

General Motors Slightly Dips Sales in First Quarter, But Remains Competitive

General Motors experienced a slight decrease in sales during the first quarter, mainly due to challenges in its fleet business. Despite selling 594,233 new vehicles from January to March, which was a 1.5% decrease from the previous year, General Motors saw a 6% increase in retail sales compared to early 2023. This improvement helped the company surpass Toyota’s U.S. sales of 565,098 vehicles.

Despite the slight decline in General Motors’ sales, there has been an overall increase in demand in the automotive industry. Edmunds forecasts quarterly sales of approximately 3.8 million units, up by 5.6% year-over-year. It is noted that Asian brands, led by Toyota’s 20% sales increase, are likely to be the main drivers of this growth. The competition among foreign companies, including Honda and Hyundai, for American consumers is intensifying.

One standout performer for General Motors was its pickup lineup, which experienced a 3.6% increase in sales, marking the best quarter since the start of the pandemic. On the other hand, sales of electric vehicles (EVs) saw a significant drop due to software issues and production delays, particularly affecting the Chevrolet Bolt

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