Sport Investors League
  • Politics
  • Stocks
  • Investing
  • Business

Sport Investors League

  • Politics
  • Stocks
  • Investing
  • Business
Business

GM reports best U.S. quarterly sales since 2020

by admin July 3, 2024
July 3, 2024
GM reports best U.S. quarterly sales since 2020

DETROIT — General Motors reported 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 its highest quarterly units sold since the fourth quarter of 2020.

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.

Auto industry forecasters such as Cox Automotive and Edmunds expect second-quarter sales industrywide, which included July 1, to be roughly level from a year earlier amid slowing retail demand.

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 June 19 ransomware attack forced CDK, a market leader, to shut down its dealer management system, impacting close to half of all dealerships in North America.

“The 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,” said Jessica Caldwell, Edmunds’ head of insights.

Dealers, including the industry’s largest publicly traded ones, were forced to delay sales or figure out workarounds to sell vehicles since the attacks occurred.

All six of the major publicly traded franchised dealership groups have disclosed their exposure to the CDK issue. Five of the six — Asbury Automotive Group, AutoNation Inc., Group 1 Automotive Inc., Lithia Motors Inc. and Sonic Automotive Inc. — use CDK as their primary dealership management system provider, according to Automotive News. 

“The good news is — unlike other black swan events that the industry has contended with in the past — sales shouldn’t be lost or severely deferred, but rather pushed into the third quarter,” Caldwell said.

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
‘NEETS’ and ‘new unemployables’: Why some young adults aren’t working
next post
Noble Minerals Initiates Temporarily Delayed Drill Program in proximity to the Location of a 140 kg, Mineralized Boulder Found near Hearst, Ontario

Related Posts

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025

UnitedHealth CEO suddenly steps down for ‘personal reasons’

May 14, 2025

Increased sausage demand may be a red flag...

August 27, 2024

Amazon taps Xbox co-founder to lead new team...

May 31, 2025

In wake of L.A. wildfires, a diverse small...

March 4, 2025

Starbucks union announces strike to last through Christmas...

December 21, 2024

Credit card delinquency rates hit a nearly 12-year...

July 25, 2024

Walmart to pay $10 million to settle lawsuit...

June 24, 2025

Skechers to be acquired by 3G Capital in...

May 6, 2025

What a stake in Intel could mean for...

August 27, 2025

    Get free access to all of the retirement secrets and income strategies from our experts! or Join The Exclusive Subscription Today And Get the Premium Articles Acess for Free


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent

    • Moderate Dem undercuts Jeffries on ObamaCare compromise as government shutdown wears on

      October 9, 2025
    • MIKE DAVIS: The Supreme Court betrayed again — this time from the bench

      October 9, 2025
    • Senate Democrats defy White House warnings, again block GOP bid to reopen government

      October 9, 2025
    • Greta Thunberg slammed for using image of starved Israeli hostage to show Palestinians suffering in Gaza

      October 9, 2025
    • Screaming match erupts between Hakeem Jeffries, Mike Lawler as government shutdown chaos continues

      October 9, 2025

    Categories

    • Business (1,116)
    • Investing (3,215)
    • Politics (3,916)
    • Stocks (1,155)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: sportinvestorsleague.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 sportinvestorsleague.com | All Rights Reserved