GM Posts Best Sales Since 2020 on Pickup Truck, EV Demand

By
Bill McColl
Bill McColl
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Bill McColl has 25+ years of experience as a senior producer and writer for TV, radio, and digital media leading teams of anchors, reporters, and editors in creating news broadcasts, covering some of the most notable news stories of the time.

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Published July 02, 2024
06:22 PM EDT
Chevrolet Silverado pick-up trucks at a dealership in Colma, California

 David Paul Morris / Bloomberg / Getty Images

Key Takeaways

  • General Motors posted its best quarterly sales figures since the end of 2020 on demand for pickup trucks and electric vehicles.
  • Second-quarter EV deliveries reached a record high.
  • Full-size pickup truck deliveries were the highest since 2021.

General Motors (GM) posted its best U.S. quarterly sales figures in more than three years, lifted by higher demand for full-sized pickup trucks and electric vehicles (EVs).

The country’s biggest carmaker said it delivered 696,086 vehicles in the second quarter, an 0.6% increase from a year ago and the most since the fourth quarter of 2020. 

The company set a record for EV sales of 21,930, a 40% gain year-over year, boosted by a jump in deliveries of the Cadillac Lyriq. Full-size pickup truck deliveries rose to their highest level since 2021.

For the first half of the year, GM sales were 1,290,319, a decline of 0.4%.

"We can win as more customers embrace EVs and we can keep winning if they want to stay with the engine technologies they know," said Marissa West, senior vice president and president of GM’s North America division,

GM shares rose 0.6% to finish Tuesday at $46.95. They're up about 30% so far this year.

Tesla also reported its latest deliveries data on Tuesday, beating analysts' estimates for the second quarter.

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  1. General Motors. "U.S. Q2 and First Half Sales," July 2, 2024.

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