Big drop for the quarter, but the outlook improves
Deliveries of General Motors and Stelantis vehicles were down 33% and 19% in the third quarter compared to last year, largely due to ongoing chip shortages, which prompted automakers to dramatically reduce production. force to.
GM previously advised investors that it expected to lose about 200,000 units of production in North America in the second half of the year, with most of that coming in the third quarter, and reiterated that guidance on Friday.
Despite the decline, its total deliveries during the first nine months of the year remain flat compared to 2020, while its average transaction price reached $47,467 on the relative strength of its full-size truck sales.
“The semiconductor supply disruption that impacted our third quarter wholesale and customer distribution is improving,” GM North America President Steve Carlisle said in a release on the results.
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|KIMTF||Kia Motors Corp.||30.3||+2.30||+8.21%|
“As we look into the fourth quarter, a steady flow of vehicles housed at the plants will be released to dealers, we are resuming production at major crossover and car plants, and we will continue to have a more stable operation through the fall. Looking forward to the atmosphere.”
Stelantis also remained positive for the year, up 3%, and said sales of the Jeep Grand Cherokee, one of its top models, were up 45% during the quarter on the back of the release of the all-new. Grand Cherokee Lay three-row model.
Toyota and Honda also slid 22.4% and 24.7%, respectively, during the quarter, which includes their luxury brands Lexus and Acura, but remained more than 20% for the year to date.
“As we continue to navigate through supply chain challenges, we thank our loyal Toyota and Lexus customers for their patience and trust in our vehicles,” said Jack Hollis, Toyota Motor North America’s senior of automotive operations said the vice president.
Meanwhile, Hyundai and Kia posted 4% and 9% growth in Q3 deliveries, respectively, with Kia’s results setting a third quarter record for the brand.
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Cox Automotive this week lowered its 2021 US sales forecast from 16.5 million to a maximum of 15.5 million.
Ford is scheduled to release its sales report on Monday, October 4.