[ad_1]
General Motors (GM) reported slightly better-than-expected sales during the third quarter, with a 2.2% drop compared to the previous year, totaling 659,601 vehicles sold. Forecasters had anticipated a larger decline, but GM’s sales outperformed expectations. The company’s sales of electric vehicles (EVs) saw a significant increase of about 60% year-over-year, with approximately 32,100 units sold during the quarter. This surge in EV sales helped GM maintain a market share of 9.5% in the U.S. EV market, up 3 percentage points from earlier in the year.
GM’s lineup of all-electric vehicles, priced between $35,000 and over $300,000, contributed to the sales momentum in the EV segment. The Cadillac Lyriq crossover led GM’s EV sales with 7,224 units sold, followed by the Hummer EV pickup and SUV at 4,305 units. In addition to EVs, sales of small gas-powered crossovers like the Chevrolet Trax and Buick Envista also saw notable increases compared to the previous year.
Overall, GM’s total sales for 2024 through the third quarter amounted to 1.95 million vehicles, a 1% decrease from the same period in 2023. Various factors such as the impact of Hurricane Helene on vehicle sales in the South and the strike at U.S. East Coast and Gulf Coast ports may influence sales in the fourth quarter.
Throughout the third quarter, other automakers also reported their sales performance compared to the previous year. Hyundai’s total sales saw a 5% increase, with the Genesis luxury brand achieving its best-ever third quarter. Toyota Motor reported an 8% decrease in third-quarter sales, while Nissan experienced a 2.2% sales decline to 212,068 vehicles sold.
[ad_2]
SOURCE
Emily Jensen, graduated from the London School of Economics and Political Science (LSE) in the UK in 2015 with a degree in Economics. She specializes in financial markets and international trade. After graduating, she worked as an analyst at an investment bank in London, where she developed expertise in global economic trends. She later transitioned into consulting, focusing on fintech ventures and providing insights into global economic developments. Emily is passionate about the intersection of finance and technology and aims to drive innovation in the financial sector.