GM’s first quarter sales up 3.9% on strong consumer demand

A buyer seems to be at a General Motors Co. Chevrolet car on the market at a automobile dealership in Colma, California, on Monday, Feb. 8, 2021.

David Paul Morris | Bloomberg | Getty Images

DETROIT – General Motors’ car sales have been buoyed by strong consumer demand within the first quarter as fleet sales cratered and an ongoing semiconductor chip scarcity shuttered some meeting crops.

The Detroit automaker mentioned Thursday it bought 642,250 autos throughout the first three months of the 12 months, up 3.9% in comparison with a 12 months earlier, when Covid-19 began forcing dealerships and auto crops to shutter in March.

GM is among the many first main automakers to report first-quarter sales on Thursday. Analysts anticipate sales throughout the trade to be up about 8% or 9% in comparison with the first quarter of 2020.

GM mentioned retail sales to particular person shoppers elevated 19% within the first quarter, whereas fleet sales to company and authorities shoppers declined 35% from a 12 months earlier. The automaker expects consumer demand to stay resilient all through this 12 months.

“Consumer confidence and spending will continue to increase due to stimulus, rising vaccination rates and the progressive reopening of the economy,” GM Chief Economist Elaine Buckberg mentioned in a launch. “Auto demand should remain strong throughout the year.”

GM’s Buick, Cadillac and GMC manufacturers skilled double-digit sales will increase throughout the first quarter, whereas Chevrolet – its largest model – declined 1.7%. Chevrolet’s drop was resulting from a 12.5% lower in sales of its Silverado full-size pickup vehicles.

Source hyperlink

What do you think?

Written by Business Boy


Leave a Reply

Your email address will not be published. Required fields are marked *



‘Godzilla vs. Kong’ scores $9.6 million opening day, a record for a pandemic release

A hint of what’s to come for dying malls: Phoenix mall owner sells out as property is rezoned for other uses