General Motors (GM) has announced its best quarterly sales in over three years, with notable increases in full-size pickup trucks and all-electric vehicles (EVs). In the second quarter, GM reported sales of 696,086 vehicles, a 0.6% increase compared to the previous year and the highest quarterly units sold since Q4 2020. EV deliveries also saw a significant boost, rising 40% compared to the previous year to 21,930 units. However, EVs only accounted for 3.2% of GM’s total second-quarter sales.
One of the standout performers for GM was its full-size pickup trucks, with approximately 229,000 units sold in the second quarter, a 6% increase from the previous year. These figures mark the best quarterly sales for this vehicle category since 2021. Despite these successes, GM’s total sales for the first half of the year were down 0.4% compared to the previous year, totaling around 1.3 million vehicles.
While GM’s second-quarter sales are expected to outpace the overall industry, industry forecasters such as Cox Automotive and Edmunds predict that second-quarter sales industrywide will remain relatively stable compared to the previous year, including July 1st, due to slowing retail demand. However, a potential outlier in GM’s sales performance during this period is the cyberattack on dealer software provider CDK Global. The ransomware attack on June 19th forced CDK, a market leader, to shut down its dealer management system, affecting nearly half of all dealerships in North America.
The cyberattacks on CDK have had a significant impact on dealerships during the second half of June, disrupting what is typically a lucrative and busy time for sales. Jessica Caldwell, Edmunds’ head of insights, stated that “sales shouldn’t be lost or severely deferred but rather pushed into the third quarter.” GM acknowledged the challenges resulting from the cyberattacks and mentioned that some deliveries may be delayed until Q3. Dealerships, including major publicly traded ones, had to delay sales or find alternative solutions to continue selling vehicles during this period.
Meanwhile, Toyota reported a 9.2% increase in its second-quarter sales, totaling 621,549 vehicles compared to the previous year. The Hyundai brand also saw a 2.2% increase in sales during the second quarter, selling 214,719 vehicles. However, Kia experienced a 6.5% decrease in June sales and a 2% decline in sales for the first half of the year, with 386,460 vehicles sold.
In conclusion, GM’s strong second-quarter sales performance, driven by increased sales of full-size pickup trucks and EVs, is a positive sign for the company. Despite facing challenges from the cyberattacks on CDK Global, GM expects the delayed sales to be pushed into the third quarter rather than lost or severely deferred. It will be interesting to see how GM and other automakers navigate the evolving market conditions and continue to adapt to changing consumer preferences for electric vehicles.
 best quarterly sales in over three years, fueled by increased sales of full-size pickup trucks and all-electric vehicles (EVs). With 0.6% growth compared to the previous year, GM sold 696,086 vehicles, marking the highest quarterly units sold since Q4 2020. EV deliveries also soared, rising by 40% to 21,930 units. However, despite these successes, EVs accounted for only 3.2% of GM's total second-quarter sales. Find out how GM overcame challenges from cyberattacks on CDK Global and how the market continues to adapt to changing consumer preferences for electric vehicles.){kind=link}