01-04-2022, 03:05 PM | #1 |
General Motors Aficionado
Drives: 2023 GMC Canyon, 2020 Colorado Join Date: Aug 2008
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GM Q4 2021 Sales Down 42.9%; Total 2021 Sales Down 12.9%, 2,218,228 units sold
Chevrolet Silverado and GMC Sierra Deliver GM’s 2nd Consecutive Year of Full-Size Pickup Sales Leadership in 2021
General Motors January 4, 2022
DETROIT — General Motors Co. (NYSE: GM) and its dealers delivered 2.2 million vehicles in 2021, with Chevrolet and GMC cementing the company’s eighth consecutive year of combined full-size and midsize pickup sales leadership, second consecutive year as the full-size pickup sales leader and its 21st consecutive year as the market leader in full-size SUVs. In addition, Cadillac Escalade deliveries rose 65 percent versus 2020 and a bevy of new and redesigned models helped drive Buick sales to the highest level since 2019. GM’s commercial truck business registered gains in key areas, including Chevrolet Silverado Medium Duty sales, which were up 39 percent. GM’s total sales were down about 13 percent year over year because of semiconductor supply chain issues. “All year we focused on delivering as many of our high demand, capacity-constrained products as possible and the strategy worked,” said Steve Carlisle, GM executive vice president and president, GM North America. “Our dealers and our engineering, supply chain, manufacturing and brand teams moved mountains to satisfy as many customers as possible in 2021, despite record low inventories caused by semiconductor supply chain issues during the third and fourth quarters.” “In 2022, we plan to take advantage of the strong economy and anticipated improved semiconductor supplies to grow our sales and share. We will also further strengthen our industry leadership in trucks and begin our drive to EV leadership in North America with the rollouts of the GMC HUMMER EV, Cadillac LYRIQ and the reveals of the Chevrolet Silverado EV and GMC Sierra EV,” Carlisle said. Chevrolet and GMC will stay on offense in the full-size pickup market in 2022 with new designs, the rollout of Super Cruise and more capacity, highlighted by the following:
GM expects economic growth in the U.S. and improving semiconductor availability to help drive U.S. total light industry sales from around 15 million in 2021 to around 16 million in 2022. “The key constraint for sales continues to be reduced inventory levels as a result of the semiconductor shortage. Those inventory levels are beginning to recover against a backdrop of strong fundamental demand conditions, with ample job openings, high household savings and low interest rates," said Elaine Buckberg, GM chief economist. “Consumers want to drive as much as before the pandemic, based on recent high levels of vehicle usage. High vehicle usage and deferred sales mean pent up demand for new vehicles in the millions and building. That pent up demand will support sales as vehicle supply improves.” Full-Year 2021 Highlights (vs. 2020)
Fourth-Quarter 2021 Highlights (vs. 2020) GM and its dealers sold 440,745 vehicles in the fourth quarter, down 43 percent compared with the fourth quarter of 2020, which was GM’s best quarter for retail sales since 2007. GM entered the quarter with record low inventories; however, the company’s fourth-quarter production and wholesale deliveries were up significantly from the third quarter as semiconductor supply conditions improved. Dealer inventory, including in-transit units on their way to dealers, was 128,757 units at the end of the third quarter and 199,662 at the end of the fourth quarter. Despite low inventories, several vehicle lines posted total sales increases including the Chevrolet Tahoe (up 8 percent), Chevrolet Suburban (up 3 percent), Buick Envision (up 10 percent), Cadillac Escalade (up 2 percent) and the Chevrolet Silverado MD (up 5 percent).
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