General Motors Co. (NYSE: GM) announced it sold 688,236 vehicles in the U.S. in the second quarter of 2021 – an increase of 40 percent compared to a year ago – in a unique market bolstered by strong customer demand, but constrained by low inventories resulting from the global semiconductor shortage.
“The U.S. economy is accelerating, consumer spending is robust and jobs are plentiful,” said Elaine Buckberg, GM chief economist. “Consumer demand for vehicles is also strong, but constrained by very tight inventories. We expect continued high demand in the second half of this year and into 2022.”
“The agility and creativity of our supply chain, purchasing, engineering and manufacturing teams, in collaboration with our suppliers and dealers, have helped us continue to satisfy customers and gain market share in some of the highest demand segments of the market,” said Kurt McNeil, U.S. vice president, Sales Operations.
GM is well positioned in 2021 to lead the industry in full-size and mid-size pickup sales for the seventh consecutive year. During the quarter, GM earned 40.6 percent of the retail market for full-size pickups, up 4.5 percentage points year over year (J.D. Power PIN), with more than 237,000 Chevrolet Silverados and GMC Sierras sold in the quarter.
The company is taking steps to meet customers’ future needs, especially in capacity-constrained segments:
GM announced that production of HD pickups will increase by about 1,000 trucks per month beginning in mid-July as a result of production line efficiencies delivered by the team at Flint Assembly in Michigan.
Also, GM will return full-size pickup production to Oshawa Assembly in Canada at the end of 2021.
Shipments of Chevrolet Colorado and GMC Canyon mid-size pickups built at Wentzville Assembly in Missouri increase by about 30,000 total units from mid-May through early July as the team completes dynamic vehicle testing on units held at the plant due to semiconductor supply disruptions.
GM ended the quarter with 211,974 units in inventory, down from 334,628 at the end of the first quarter.
- Chevrolet Bolt EV delivers record second-quarter and first-half deliveries.
- Buick sales rise 86 percent on strong demand for new Encore GX, redesigned Envision, and Enclave, creating the brand’s best quarter in more than 15 years.
- GMC records best second quarter and best first half since 2005 driven by Yukon and Yukon XL.
- Chevrolet Silverado and GMC Sierra sales up a combined 36 percent, with light-duty models posting strong segment share gains.
- Cadillac’s second quarter retail sales were its best since 2015.