Basic Motors reported a modest enhance in automobile gross sales in North America for the primary quarter, however its operations proceed to be hampered by a scarcity of pc chips.
GM mentioned Thursday it bought 642,250 automobiles and lightweight vehicles within the first three months of the 12 months, up simply 4 % regardless that gross sales a 12 months in the past slowed sharply when the coronavirus pandemic hit.
In distinction, Toyota Motor confirmed a robust rebound in gross sales in comparison with a 12 months in the past. The Japanese firm mentioned gross sales in North America have jumped 22 % within the first three months of 2021, to 603,066 automobiles and lightweight vehicles. Its March gross sales have been report for that month.
Toyota’s massive leap helped overtake Ford Motor, which was additionally hit by the shortage of semiconductors. Ford gross sales within the first quarter elevated simply 1 %, to 521,334. Stellantis – the corporate shaped by the merger of Fiat Chrysler and France’s Peugeot SA – mentioned its gross sales in the USA elevated by 5 % within the first quarter.
Ford and GM each noticed a considerable enhance in gross sales to particular person prospects at dealerships whereas reporting decreases in gross sales to fleet operators comparable to automobile rental firms and governments.
GM and Ford needed to cease or sluggish manufacturing in a handful of vegetation. GM has resorted to creating some automobiles with out components containing pc chips with the intention of putting in these parts earlier than promoting when provide improves.
In a press release, GM mentioned its technique to construct automobiles with none parts would assist it “reply rapidly to sturdy buyer demand all year long.”
This method to constructing automobiles “underscores the horrible nature” of the shortage of semiconductors, a CFRA Analysis analyst, Garrett Nelson, mentioned in a report. “One of many key questions is how a lot better the restoration of U.S. auto gross sales can get from there.”
Chip shortages are mirrored within the unusually low stock of 334,628 GM automobiles. It’s about 76,000 lower than on the finish of the fourth quarter and is half the variety of automobiles its sellers had in inventory a 12 months in the past. Ford’s stock was 56,100 decrease on the finish of 2020.
GM’s sluggish gross sales have been restricted to its Chevrolet model, with gross sales down 2 % within the first quarter. That included a 13 % lower in gross sales of its full-size Silverado truck, a vital revenue for the corporate. Buick, Cadillac and GMC manufacturers reported sturdy gross sales within the quarter.
Toyota has additionally reported a drop in gross sales of its full-size pickup, the Tundra. However the decline was greater than offset by giant gross sales development of its RAV4, Highlander and 4Runner sport utility automobiles and automobiles of its luxurious model Lexus.
Additionally Thursday, Honda Motor reported first-quarter gross sales in North America elevated 16% to 347,091 automobiles.
