GM's Numbers For 2Q23 Are Out -- The Report Is Horrendous For EVs -- CEO Says As Much -- GM Down 1.6% In Early Trading -- July 6, 2023

Locator: 45908AUTOS.   

Link here.

GM's numbers are out. Link here for 2Q23. A horrendous report, see this post.

Previous Post Brought Forward

Locator: 45874AUTO.

UPDATES

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GM

Since the original post from a couple of days ago,  social media is providing a bit of granularity.

The links:

• 2Q23 sales;
• 1H23 sales;
• GM Hummers;

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Stellantis 

Link here.

Higher sales of the Chrysler Pacifica minivan and Jeep Compass and Dodge Durango SUVs pushed Stellantis’ second-quarter U.S. new vehicle sales up 6.4% from a year earlier. The uptick is another sign of demand for new vehicles rebounding, as inventories of cars and trucks improve from historically low levels during the coronavirus pandemic and supply chain problems. [Those in bold are high-end models.]

Stellantis’ sales increase is expected to be among the lowest of the second quarter, according to auto industry forecasters who project industry sales to have increased 16% to 18% during that time compared with a year earlier.

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Rivian

RIVN: shares surges 2Q23 sales come in better than forecast.

ORIGINAL POST

 

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American Legacy: Ford vs Chevy

Ford vs Chevy, 1Q23: link here.

• y/y -- cars sold:
• Chevy: up 16%
• Ford: up 11%
• Tesla: up 83%
• total vehicles sold in 1Q23:
• Chevy: 398,141
• Ford: 456,972
• Tesla: 422,900 (in 2Q23: 466,140)
  

Market:

• Tesla: $820 billion
• Ford: $60 billion, pays 4%
• GMC: $53 billion, pays 1%

All car sales here: link here.

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Tesla

Tesla: update here.

China: Tesla production jumps 20%. Link here.

 

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More, pending.

Forbes, US auto sales will likely gain in June, 2023, on bigger inventory, pent-up demand.

• the large sales increase vs. a year ago is due to pent-up consumer demand, a modest return to incentives, and a bigger inventory of new cars and trucks, as the auto industry gradually recovers from a shortage of computer chips, 
• this is why JPow raising rates will make things worse:
• S&P Global Mobility predicts new, light-vehicle sales volume in June to reach 1.38 million units. That would be an increase of 17% compared with June 2022. For the second quarter, its forecast is about 4.1 million units, up 16.5%. For the first half, that would mean sales of 7.7 million, up about 12%. 
• Edmunds had a similar estimate for the second quarter of about 4 million, up 16.1%. 
• automakers in the U.S. market report quarterly sales on Wednesday, July 5.