U.S. GM Sales Down 1.5 Percent During First Quarter 2024

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1. 

   The overall market is pretty flat with annual sales projections to be similiar to last years despite burgeoning supply. Some expensive models like trucks are starting to stack up as inflation weary consumers deal with interest rates and next phase inflation such as auto and home insurance
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2. 

   It’s post-holidays / pre tax-season, this is to be expected.
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   1. 

      no it isnt. tax seasons affects 1000$ buy here clunker market

      and im not aware of anyone who ever has decided yukon for 80k or christmas party for 80k…………………..
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      1. 

         Point being a lot of “markets” slow down in that quarter but let’s pick nits, shall we?
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   2. 

      Tell that to Toyota whose sales were up 20% to 565,000 units. Over a third of which were hybrids.
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      1. 

         GM made the wrong bet ignoring hybrids and aiming for Tesla. Looking back, Volt (and Honda Clarity) PHEVs are super hybrids but presented as EVs with a gas back up engine capable of getting up to 300 miles a tank.
         Had GM used this design, called them Ultra Hybrids, sales would be far stronger. Even if they copied Toyota th ik NHS would be better.
         I’m in the minority thinking advanced hybrids are a better ssd solution than pure EVs.
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   3. 

      I thought truck sales would be down around the Suburban level or at least the Tahoe. Suburban High Country in Alberta is $130,000!!!!! I just don’t see how they can maintain these prices when the cost of living is so expensive. Unfortunately the mindset of the average American and Canadian is buy now, don’t save and worry about it later. I guess that’s why American consumers have $1.15 trillion in credit card debt. That’s disgusting. Several big box stores in America surveyed people under 25 and asked them what they preferred, self checkout or one with an employee. Over 50% said, self checkout because it’s easier to steal because we don’t have enough money. 10-20 years from now these kids won’t be buying trucks and large SUVs. Society’s in a crazy space right now.
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   4. 

      There wasn’t a “post-holidays / pre tax-season” in 2023?
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3. 

   This decrease in sales is due to the failure in execution of Barra’s EV strategy.
   – Getting rid of the Bolt without a <$30k replacement ready to go
   – Related: the Equinox EV (which is about $10,00 more expensive) was supposed to replace the Bolt. Where is it? Oh, not here yet in meaningful numbers. Another market sequencing fail.
   – Taking forever to get the Lyriq produced in meaningful numbers (this is the first quarter where it finally has traction)
   – The Silverado EV launching as an overstuffed, overpriced, overfeatured vehicle. Silverado is not a boutique nameplate, yet that is what Chevy has made it for the EV.
   – The Blazer EV has been a glitchy mess from the start

   People are looking to alternatives to Tesla (see their numbers today). GM has been passed by Hyandai / KIA in pure electrics, and with the market shifting to hybrids, it is trying to regain glory it previously had that has been taken by Ford and Toyota. GM has some good product, some very good, but it is too scattered in both strategy and execution to achieve its true potential.
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   1. 

      its not even EVs. it is scandals like failing engines (a ford trademark now part of the gm heritage) out of the factory, totally random lack of parts.. hey thanks for ordering, too bad your option is no longer available and we have no eta, spyware software selling your data, the push back of the updated interiors by a year.. built vehicles sitting in a lot for weeks\months unable to be shipped to dealer (end customer) and not to mention 4000 different models of CUTEs with no real sedan options. most people have no idea what all those new gm models called are even about. except they are all the same size and look the same……..

      on the HD segment them still charging 10k for the updated interior instead of offering it standard..

      dealers who think they are selling porsches. chevy dealers now act like they are a tuxedo affair
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   2. 

      We gave up a 3rd gen Chevy Volt hybrid that will come to bite them right in the @ss. She needs to step down.
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      1. 

         Her linked in page is full of how successful she is, despite a stock that is stuck in the same place for close to a decade, even with stocks buy backs.
         She has a board that is in her back pocket, which she has hand-picked. All sustainable types.
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4. 

   I’m surprised Sales are as high as they are tbh.

   Think about how much farther ahead of the curb GM would be if they never abandoned hybrids and diesels. I’m not against EVs, but they’re nowhere near ready for prime time yet (in the way GM and Ford were banking on).

   Also, the junk they’re putting out currently. Junk infotainment systems, junk engines, seems like the 10 spd is finally a decent trans, but that’s about where it ends.
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   1. 

      Shoulda/coulda/woulda has been the story for GM for about 50 years.
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5. 

   Congratulations to Buick for having an increase in sales (while other GM brands decreased).
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6. 

   I’ve been blaring the air raid siren on the Koreans for years. GM is asleep at the wheel. A whole &@#$!?% generation is driving Korean now. No way GM (or any domestic) is winning back those consumers for the long-term without class-leading, exciting products.

   This is a complete failure of senior leadership. Mary and crew HAVE to go before it’s just too late.
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7. 

   Had a beer with an old neighbour after work. Toyota dealership called him and said a deal fell through on a Camry Hybrid, do you want it. Salesman said to hurry because there’s none in Calgary. He went and bought it right out of the showroom. If you put a Malibu next to this car it would be pretty embarrassing. It’s a nice looking car inside and out. And you can drive it for 4 years and still get your money out of it. 52 mpg sounds pretty good too.
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8. 

   It is simple. GM is starving every brand that isn’t called “ultium” or “buick”.
   GM loves propping up Buick in the USA thinking that translates to sales in China.
   And as long as GM offers 8% interest rates, this trend will accelerate.
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   1. 

      Going to be an interesting next decade+ of rotation to EVs continue. Companies are going to have to continue to produce viable ICE and EV products. If you go full EV or try to ride out ancient ICE models you are going to loose a significant number of customers you will have to regain in the future. Already seeing some companies to include Nissan, Audi and Volvo failing to update ICE models. They are going to have a gap of declining sales years they will have to recover from

      Reality is that profits on old ICE designs with elevating prices will be used to prop up EVs for the near future as well.
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   2. 

      Buick has just four models, and you say that other GM brands are starving?
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9. 

   Something is awry because most automakers had increases. Either they’re building the wrong things or not enough of the right things. I do think that GM is being the most aggressive automaker with incentives, so that’s not the problem.
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10. 

    Amazing how Chinese made Envision is the most popular Buick. It has a beautiful, premium design that looked even better last year before the new front lighting design.
    Buick must be pure very profitable w/ Envision coming from a pre-existing Chinese line, Encore and Envista sharing so much with Chevy. Even Enclave rides on a platform used by every GM US division. Sharing dealerships with GMC even reduces the need for advertising.
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11. 

    The Chevrolet figures don’t add up, literally.
    1). The Bolt EUV is not included.
    2). The Q1 2023 figures shown add to 385,183 not the total shown of 398,141. The difference of 12,958 comprises 12,808 Bolt EUV sales and 150 Spark sales that GM Authority reported this time a year ago.
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    1. 

       Good catch
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    2. 

       Bolt sales of 7040 includes both EV & EUV and this is 64% less than the 19,700 YoY. Yes after stopping production in 2023-Q4, they are just selling the inventory. With this total GM EV sales dropped 20%.

       It could be even more in 2024-Q2 since only 1K of Bolt is in inventory and unless their Ultium based EV sales increase, their total EV sales could decrease drastically.a
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12. 

    I think if we all took deep breath and thought about it for a few minutes, most of us would agree (for the most part) on the following.. GM has made so many poor decisions and made so many mis-steps in the last few years that there may be no coming back from it. There has been a wholesale abandonment of innovation in ICE vehicles. instead opting for a “Lets just make 5 different sized Blazers” strategy in Chevrolets case. All while removing customer options and raising prices to a level that is not obtainable for most people in todays economy. for example, you cannot expect a customer to spend 80K for a new Tahoe and then tell them, “Sorry, sunroofs are not available”. All the company energies is goin into EV’s to keep Washington happy but the execution has been stunningly poor…to the point customers are no longer even willing to consider an EV from GM. The quality is swirling the drain, my god they cant even make a reliable V8 anymore (bad Lifters and cams). I’m not even going to start on their logistics nightmare. But the biggest offense is that they stopped listening to their customers. Someone at the RenCen better wake up before it is too late. They are bleeding customers to other brands. I am a lifelong GM fan and owner. But I am about done with them.
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13. 

    Toyota sales in USA increased 20% and their electrified vehicles (Hybrids + BEV) increased 74%. If we exclude the electrified, then the net sales increase is just 2%. Globally their electrified vehicle sales crossed 40%.
    This is a forewarning to GM that electric + other types of hybrids are going to dominate soon.
    And GM wants to slow down their EV production without any interest in selling hybrids. Dont know how this could turn out.
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14. 

    Dear editor: May I know why you removed my earlier post which mentioned that GM EV sales has actually decreased.
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15. 

    Surprising fact about US 2024-Q1 sales is that the RAM 1500 which normally takes #3 slot after F-150 and Silverado is now pushed to #7. Is it a 1 time thing because of newly redesigned MY-2025 which entered the market.

    Still it could have come in Top-5. Looks like more people are moving towards crossovers which can still take the 6 foot long items by folding the rear seat. Nissan Titan also has gone down.

    Share of pickups are dropping slowly. GM should take notice of this.
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