DETROIT \u2014\u00a0General Motors\u00a0reported its best quarterly sales in more than three years, including notable increases in full-size pickup trucks and all-electric vehicles.<\/p>\n
The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and\u00a0its highest quarterly units sold since the fourth quarter of 2020.<\/p>\n
Its EVs deliveries increased 40% compared to a year earlier to 21,930 units. Still, EVs made up only 3.2% of its total second quarter sales.<\/p>\n
Auto industry forecasters\u00a0such as Cox Automotive\u00a0and Edmunds expect second-quarter sales industrywide, which included July 1, to be roughly level from a year earlier amid slowing retail demand.<\/p>\n
An unknown outlier in the second quarter is how much of an impact cyberattacks on dealer software provider CDK Global will have on sales. The\u00a0June 19 ransomware attack\u00a0forced CDK, a market leader, to shut down its dealer management system, impacting close to half of all dealerships in North America.<\/p>\n
\u201cThe CDK cyberattacks have thrown a monkey wrench into sales during the second half of June, affecting what is arguably one of the most lucrative and busiest times of the month and quarter for dealerships,\u201d said Jessica Caldwell, Edmunds\u2019 head of insights.<\/p>\n
Dealers, including the industry\u2019s largest publicly traded ones, were forced to delay sales or figure out workarounds to sell vehicles since the attacks occurred.<\/p>\n
All six of the major publicly traded franchised dealership groups have disclosed their exposure to the CDK issue. Five of the six \u2014\u00a0Asbury Automotive Group,\u00a0AutoNation Inc.,\u00a0Group 1 Automotive Inc.,\u00a0Lithia Motors Inc.\u00a0and\u00a0Sonic Automotive Inc.\u00a0\u2014 use CDK as their primary dealership management system provider, according to Automotive News.\u00a0<\/p>\n
\u201cThe good news is \u2014 unlike other black swan events that the industry has contended with in the past \u2014 sales shouldn\u2019t be lost or severely deferred, but rather pushed into the third quarter,\u201d Caldwell said.<\/p>\n<\/p>\n
DETROIT \u2014\u00a0General Motors\u00a0reported its best quarterly sales in more than three years, including notable increases in full-size pickup trucks and all-electric vehicles. The Detroit automaker on Tuesday reported sales of 696,086 for the second quarter, up 0.6% from a year earlier and\u00a0its highest quarterly units sold since the fourth quarter of 2020. Its EVs deliveries […]<\/p>\n","protected":false},"author":0,"featured_media":5761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-5760","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5760","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/comments?post=5760"}],"version-history":[{"count":0,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/posts\/5760\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media\/5761"}],"wp:attachment":[{"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/media?parent=5760"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/categories?post=5760"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstriumphs.com\/index.php\/wp-json\/wp\/v2\/tags?post=5760"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}