General Motors' U.S. sales jump 18% in the first quarter
Publishing timestamp: 2023-04-03 13:38:49
Summary
General Motors reported an 18% increase in first-quarter U.S. sales, with over 600,000 vehicles delivered. Sales of Chevrolet Silverado and GMC Sierra full-size pickups were up 9% from the previous year, and GM confirmed plans to build 50,000 EVs in the first half of 2023 and double that in the second half of the year. The company also noted that it sold over 20,000 EVs in the quarter for the first time, with most being Chevrolet Bolts and 968 being the brand-new Cadillac Lyriq EVs. GM is ramping up production of its Ultium-based electric vehicles, including the electric Chevrolet Equinox crossover due later in 2023. The company's EV sales volumes are expected to increase sharply in 2024 and 2025.
Sentiment: NEUTRAL
Keywords: business, general motors co, united states, ford motor co, business news, transportation,
Source: https://www.cnbc.com/2023/04/03/general-motors-us-sales-q1.html