General Motors (GM) sold 642,250 cars in the United States during the first quarter of the year, an increase of 3.9% over the same period in 2020, thanks to a strong increase in demand for the company’s high-end brands that has expressed optimism about the country’s economic development .
General Motors reported Thursday that sales of the Buick brand rose 35.2% to 45,784 units, while sales of Cadillac, the group’s luxury brand, grew 22.9% to 37,277 units.
The company, specializing in the production of SUVs and SUVs, sold 10.5% more, with 131,239.
However, consumer brand Chevrolet lost 1.7% of its sales in the first three months of the year, with 427,950 units delivered in the first three months of the year.
GM noted that sales to individuals increased 19% and that its four brands benefited from the increased flow of consumers to dealerships.
The company also asserted that despite the shortage of microprocessors, which has curtailed production across the sector, GM has prioritized producing its most profitable vehicles at the expense of other models.
GM inventory at the end of the first quarter of 2021 was 334,628 units, 76,247 less than at the end of the fourth quarter of 2020.
“Sales are off to a strong start in 2021, and we are running our four-wheel drive and full-size truck plants to full capacity and are planning to compensate for the production loss of small cars and SUVs in the second half of the year when this is possible,” he explained. General Motors and the company president for North America, in a statement.
GM also indicated that the sales trend for the first quarter indicated a recovery in the US economy and estimated that if the pace continues in the coming quarters this year, 16.7 million cars will be sold in the US.
Consumer confidence and spending will continue to rise thanks to (economic) stimulus, high vaccination rates, and a growing re-opening of the economy. Eileen Bachberg said demand for cars should remain strong throughout the year.
The manufacturer said its optimism about the US economy was boosted because in the first quarter, demand for vehicles from small businesses increased 27%.
Sales to commercial and government customers decreased 15%, while sales to rental companies decreased 55%.
The Chevrolet Silverado pickup truck was the best-selling vehicle for the GM Group, with 126,591 units, although demand decreased 12.5% compared to the first quarter.