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General Motors experiences a 1.5% decline in sales due to weakened fleet business

General Motors faced a minor decrease in sales during the first quarter, mainly due to challenges in its fleet business. However, despite the overall decline, the company still managed to maintain its position as the best-selling automaker in the United States. Retail sales increased by 6%, helping General Motors surpass Toyota as the top-selling automaker in the U.S.

Despite an overall decline in sales for General Motors, there were significant variations among its brands. Buick reported an increase of 16.4% year-over-year, while GMC experienced a 5% decline in sales. Sales for Chevrolet and Cadillac decreased slightly compared to the previous year.

The company’s pickup lineup saw a significant increase in sales, with a growth of 3.6%, making it the best quarter since the start of the COVID-19 pandemic. In contrast, sales of General Motors’ electric vehicles dropped due to software issues and production delays, particularly affecting the Chevrolet Bolt. Fleet sales for the automaker decreased by approximately 23% compared to the previous year.

Edmunds forecasts that quarterly sales will reach around 3.8 million units, a 5.6% increase from the previous year, indicating an overall demand for vehicles has increased despite challenges faced by specific brands like General Motors’ fleet business and electric vehicles lineup. Although Toyota had a significant sales increase of approximately 20% in the same quarter, other foreign brands like Honda and Hyundai have also gained more market share, indicating heightened competition among foreign automakers for American consumers’ attention and preferences towards different car models and brands.

By Samantha Jones

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