Buick Invista 2024.
GM
Detroit — “ General Motors The US automaker on Tuesday reported a 1.5% decline in US auto sales in the first quarter compared to last year, as the overall auto industry returned to normal after years of turmoil and volatile results.
The decline to 594,233 vehicles sold during the first three months of the year was largely due to a 22.9% year-over-year decline in sales to fleet customers, the Detroit automaker said. GM said retail sales to customers rose 6%.
GM's sales fell short of expectations for the overall industry, which Cox Automotive expected to rise 5.5% from a year earlier.
Buick was the only GM brand to record an increase in sales during the quarter, up 16.4% from the previous year. The GMC truck brand saw a decline of about 5%, while Cadillac and Chevrolet each fell about 2%.
General Motors announced that sales of its full-size pickup trucks reached approximately 197,000 units during the first quarter, an increase of 3.6% from the previous year, representing its best performance during that period since the first quarter of 2020.
“General Motors has gained market share in the retail market year-over-year on strong mix and pricing, our inventories are in good shape heading into spring, and production and deliveries of Ultium Platform EVs are on the rise, led by the Cadillac Lyriq. We're going according to plan,” said Marissa West. President of General Motors North America in a statement.
Electric car sales
Sales of GM's all-electric vehicles, which Wall Street is closely watching, remained thin during the first quarter. Total electric vehicle sales reached 16,425 units, or 2.8% of the automaker's total sales during this period.
General Motors is ramping up production of its latest electric vehicles, including the Cadillac Lyriq and Blazer EV, while reducing sales of the Chevrolet Bolt models, which were discontinued in December.
Blazer EV sales in the first quarter were limited, totaling 600 units, due to a sales halt that was in effect from late December through early March to resolve software issues.
Hyundai and other automakers
Other automakers reported mixed first-quarter results, with inventories and sales returning to levels not seen since before the COVID-19 pandemic began.
Randy Parker, CEO of Hyundai Motor America, noted that the industry is becoming more competitive as automakers try to maintain the profits of recent years without overly propping up sales.
“The market is changing rapidly, and it's becoming much more competitive,” Parker said Tuesday during a media call.
Hyundai reported its best March sales ever last month, with 76,920 vehicles sold, but first-quarter sales were up just 0.2% compared to the previous year.
Separately, Hyundai's luxury brand Genesis reported sales of 14,777 vehicles during the first quarter, up 7.3% year-on-year.
Here's how other major automakers fared in U.S. sales compared to the first quarter of 2023:
toyota motor Reported a 16% increase in sales, including a 16.1% increase in March. The company sold nearly 388,000 cars during the first three months of the year.Honda MotorIt announced a 17.3% jump in sales to nearly 334,000 vehicles sold, including a 10.1% increase in March. Kia reported sales of 179,621 vehicles during the first quarter, down 2.5% year over year.
