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DETROIT – General Motors Co. (NYSE: GM) sold 582,401 vehicles in the United States in the second quarter of 2022 and the company increased its sales and market share sequentially for the third consecutive quarter. GM’s second quarter sales were down 15% year over year, but market share was up 1 point to an estimated 16.3% (J.D. Power PIN).

“GM’s sales and market share have grown each of the last three quarters, even with lingering supply chain disruptions,” said Steve Carlisle, GM executive vice president and president, North America. “Our long-term momentum will continue to build thanks to the launches of groundbreaking new EVs like the GMC HUMMER EV and Cadillac LYRIQ, and the tremendous customer response to the Chevrolet Silverado and GMC Sierra.”

Second Quarter Sales Highlights

  • GM extended its leadership in full-size pickup truck retail market share for the 13th consecutive quarter, despite very low inventory, with 203,041 combined total sales of the Chevrolet Silverado and GMC Sierra. Their estimated retail market share was 44%. The Chevrolet Silverado remains the fastest growing full-size pickup truck in the industry (J.D. Power PIN), with Silverado HD recording its best first half in retail sales since 2007.
  • Pent-up demand and improved availability helped drive large year-over-year increases in deliveries of the Chevrolet Camaro, up 63%; Chevrolet Colorado, up 52%; Chevrolet Malibu, up 563%; Cadillac XT4, up 116%; and Cadillac CT5, up 70%.
  • GMC delivered its best-ever first half retail market share (J.D. Power PIN). Total sales of the GMC Canyon grew 40% and GMC Terrain grew 37% in the quarter. The GMC Sierra HD, which was up 31% in the quarter, delivered its best second quarter and first half on record.
  • GM’s commercial, government and daily rental deliveries were up a combined 29%, with each category posting double-digit growth as customers took advantage of improved availability to refresh and expand their fleets, which reflects strong employment and the recovery in the travel and leisure industries. Sales to commercial and government customers were 73% of the fleet sales mix.
  • Commercial demand was especially strong for full-size vans, up 12%; full-size pickups, up 14%; medium-duty trucks, up 13%; and midsize pickups up 65%.
  • Electric vehicle sales were over 7,300 units, including some of the first deliveries of the BrightDrop Zevo 600 and GMC HUMMER EV Pickup, as well as the resumption of Chevrolet Bolt EV and Bolt EUV production.
  • Cadillac LYRIQ production is accelerating, with initial deliveries in process. Orders for the 2023 model year sold out within hours and preorders for the 2024 model opened on June 22.
  • GM will gradually increase production of the Cadillac LYRIQ and GMC HUMMER EV Pickup in the second half of 2022. Ultium Cells LLC begins producing cells in Ohio to support expanded EV manufacturing starting in August.
  • GM’s sales incentives remained near record lows in the quarter at 2.3% of average transaction prices, according to J.D. Power PIN estimates.
  • The second quarter SAAR was an estimated 13.4 million light vehicles compared to 17 million a year ago.

Production, Delivery and Inventory Updates

GM vehicle production was strong during the second quarter and the company finished the month with 247,839 vehicles in dealer inventory, including units in-transit to dealers. However, GM’s second quarter vehicle wholesale volumes were impacted by the ongoing semiconductor supply shortage and other supply chain disruptions mostly in June.

As a result, GM will hold about 95,000 vehicles manufactured without certain components in company inventory until they are completed and will recognize revenue when they are sold to dealers, which is expected to happen throughout the second half of 2022. The impact of these events, which is not expected to impact GM’s full-year earnings guidance, is discussed in an SEC Form 8-K filed today.

“We appreciate the patience and loyalty of our dealers and customers as we strive to meet significant pent-up demand for our products, and we will work with our suppliers and manufacturing and logistics teams to deliver all the units held at our plants as quickly as possible,” said Carlisle.










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I'm a stockholder and I can't guess what this is about unless it's about to report an abysmal sales 1/4.
 

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Here's the link to the press release on GM's website. It does not contain the sales/deliveries spreadsheet with detailed model by model numbers like we're used to. Maybe that will come later.

GM Continued to Gain U.S. Market Share and Extended its Truck Leadership in the Second Quarter

The new GM newsroom is seriously the worst.
 

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Malibu sales up triple digits? Not surprising since GM quit producing them for nearly a year and what few sales happened was off inventory that dwindled to nearly nothing.
+1
In Q2 2021, GM sold fewer than 5,000 Chevy Malibu in the U.S. So the 563% increase in sales GM is touting for that model in Q2 2022 is meaningless.

Then again, Chevy Malibu itself is meaningless to non-fleet new car buyers these days anyway.
 

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The new GM newsroom is seriously the worst.
Thanks FenwickHockey65, the deliveries spreadsheet is now available (see attached). Or I just missed it previously.
 

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Q2 2022 sales numbers for GM's EV in the U.S. market:
  • Bolt EV/EUV: 6,945
  • Hummer EV: 272
  • ZEVO 600: not more than 132*
* GM did not include a line item for ZEVO 600 sales in the deliveries spreadsheet, but did include the statement "Vehicle Total Includes ZEVO 600 and discontinued models" at the bottom of the document. Subtracting the "GM Vehicle Total" for Q2 of 582,401 from the sum of Buick, Cadillac, Chevrolet, and GMC which is 582,269 gives a result of 132.
 

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Buick ouch sales down -56.1%, wow Malibu that big jump GM star-turn in Q2.
 

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Q2 2022 sales numbers for GM's EV in the U.S. market:
  • Bolt EV/EUV: 6,945
  • Hummer EV: 272
  • ZEVO 600: not more than 132*
gm Electric the future - That Q2 sales what's that a month? 2,315 Bolt EV/EUV & 90 Hummer EV not much bonus for the gm Electric management team in Q2, down to McDonald to spend the bonus on a portion of small fries each.

Cleaner that works on the Malibu line that accidentally pushed the production line speed control lever to full speed mode, gets June GM employee of the month award.
 

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Buick yearly sales are so abysmal it looks like GM is phasing out the brand in the US. Cadillac has outsold them thus far this year by nearly 14k units. That's a rarity.
 

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Falling 15% premarket isn't the problem, it's the ~50% decline in the last 6 months that is the problem...
 

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gm Electric the future - That Q2 sales what's that a month? 2,315 Bolt EV/EUV & 90 Hummer EV not much bonus for the gm Electric management team in Q2, down to McDonald to spend the bonus on a portion of small fries each.

Cleaner that works on the Malibu line that accidentally pushed the production line speed control lever to full speed mode, gets June GM employee of the month award.
EDIT: They sold 272, much better!

GMC Hummer EV Sales!?
- So Q1 must have had a lot of pent-up demand, already seeing a sales decline?
 
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The new GM newsroom is seriously the worst.
Thanks, FenwickHockey65 (and gkr778) for posting.

I get the spin (e.g., Malibu), but most sensible people can see through that and don't pay much attention to it.

I hope the real, longer-lasting performances of certain models (e.g., HD) is apparent to management. That is to say, constant, regular, substantive updates will be necessary to remain competitive and cement a positive brand image.
 

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I'm a stockholder and I can't guess what this is about unless it's about to report an abysmal sales 1/4.
This will be a big hurt on their cash flow as they'll have to pay the suppliers, etc. for the building of these vehicles with no offsetting revenue from the sale of them. But otherwise no impact to the Income Statement as the costs of these 95k units stay on the balance sheet until the vehicles are sold.

I guess the big concern is if they can't get the parts for these vehicles and they just sit there.. I'm not sure how much of an additional cost there will be to install parts on 95,000 vehicles after the fact...

Nothing like a bad 2021 to make things look good now. The important part is market share is improving.
 

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This will be a big hurt on their cash flow as they'll have to pay the suppliers, etc. for the building of these vehicles with no offsetting revenue from the sale of them. But otherwise no impact to the Income Statement as the costs of these 95k units stay on the balance sheet until the vehicles are sold.

I guess the big concern is if they can't get the parts for these vehicles and they just sit there.. I'm not sure how much of an additional cost there will be to install parts on 95,000 vehicles after the fact...

Nothing like a bad 2021 to make things look good now. The important part is market share is improving.
I don't put much weight into the 95K number, compared to annual sales, not a big deal, compared to any of the last 4-5 quarters, is it that much different? GM's had 1/2 built vehicles piling up for well over a year.

Mary is coming up on 10 years of exceptional leadership.
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So we can't blame the pathetic newsroom/marketing department on anyone but her, great point!
 

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I don't put much weight into the 95K number, compared to annual sales, not a big deal, compared to any of the last 4-5 quarters, is it that much different? GM's had 1/2 built vehicles piling up for well over a year.



So we can't blame the pathetic newsroom/marketing department on anyone but her, great point!
Tell that to Wall St as we have that other thread about GM's stock being halted:D I myself don't see what the big todo is... Wall St overreaction.

Though they are up $.27 now.
 
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