DETROIT, Mich. (WANE) General Motors released its 2nd quarter earnings report Friday which indicated supply chain issues are still plaguing the automaker.
GM reported it has kept about 95,000 vehicles from being sold due to the fact those vehicles are missing certain components.
Despite the supply chain issues, GM says it extended its leadership in full-size pickup truck retail market share for the 13th consecutive quarter, despite very low inventory, with 203,041 combined total sales of the Chevrolet Silverado and GMC Sierra. Their estimated retail market share was 44%. The Chevrolet Silverado remains the fastest growing full-size pickup truck in the industry (J.D. Power PIN), with Silverado HD recording its best first half in retail sales since 2007.
“GM’s sales and market share have grown each of the last three quarters, even with lingering supply chain disruptions,” said Steve Carlisle, GM executive vice president and president, North America. “Our long-term momentum will continue to build thanks to the launches of groundbreaking new EVs like the GMC HUMMER EV and Cadillac LYRIQ, and the tremendous customer response to the Chevrolet Silverado and GMC Sierra.”
GM’s second quarter sales were down 15% year over year, but market share was up 1 point to an estimated 16.3% as it sold 582,401 vehicles in the United States.