Ford, GM Post Q2 Gains Due to Robust Truck Sales – The Detroit Bureau

Ford Motor Co. and General Motors Co. posted double-digit sales increases for the second quarter, while Volkswagen of America lost market share, according to the latest numbers.

Ford was America’s bestselling brand in the second quarter on the strength of its trucks, electric vehicles and new vehicle launches, beating out rival Toyota. Ford posted sales gains of 11.2% for the quarter. 

Ford had strong quarter

“Ford achieved both bestselling brand and truck for six consecutive months this year on the strength of F-Series, vans, our new Escape and F-150 Lightning,” said Andrew Frick, vice president, sales distribution, and trucks. 

“Our EV sales continue to grow. Improved Mustang Mach-E inventory flow began to hit at the end of Q2 following the retooling of our plant earlier this year, which helped Mustang Mach-E sales climb 110% in June.”

Ford is now the bestselling brand for six consecutive months this year. F-Series has been the top selling truck in America for 46 years in a row. Ford truck sales accelerated in during the second quarter, climbing 26.2% on the strength of the new Super Duty and improved inventory flow. 

GM said its total sales increased 18% in the second quarter, with a big lift from fleet sales for its new Bright Drop and Envolve units. Combined sales from the two units jumped 30%, according to the company’s second-quarter sales report.

With the seasonally adjusted annual rate of sales or SAAR running at 15.8 million units in June — well ahead of analysts’ predictions, GM said it sold 1,295,186 vehicles during the first half of 2023. The figures include a 15% increase in retail along with the 30% increase in fleet sales. It was the fourth consecutive quarter of retail share growth, GM said. The commercial vehicles sales were the best for GM since 2007, the company’s second quarter added.

Chevrolet sales increased by 15%, Cadillac sales increased by 15%, Buick sales increased by 48% and GMC sales increased by 18%.

Volkswagen sales stumble

Volkswagen of America saw its second-quarter sales drop 1.7% as sales of SUVs such as the Atlas and Atlas Cross Sport faltered. One bright spot for VW was the steady increase in sales of new battery electric vehicle the ID.4. For the first six months of the year, VW sales are up 1.1%, but it lost market share to American and South Korean rivals.

BMW brand sales increased 11.5% increase from the 78,905 vehicles sold in the second quarter of 2022. Through the first half of the year, BMW brand sales total 170,414 vehicles, an 11.7% increase as compared to the same time period last year, the German automaker reported.

Sales of BMW’s fully electric models continued to grow as inventory has become more available. In the second quarter of 2023, BMW’s three fully electric models — BMW i4, BMW iX, and BMW i7­ — accounted for 12.9% of total sales volume. Through the first six months of 2023, BMW sold a total of 17,964 fully electric vehicles, already surpassing the year-end total achieved in 2022.

“The word is out — the ‘Ultimate Driving Machine’ is also the ‘Ultimate Electric Driving Machine’,” said Sebastian Mackensen, president and CEO, BMW of North America. “As the enthusiasm around these great products grows, we continue to gain both momentum with customers and BEV share in the market.” 

Mini brand sales in the U.S. totaled 7,585 vehicles in the second quarter of 2023, an increase of 47.8%, versus the 5,131 vehicles sold in the second quarter of 2022.

Other brands fare well

Volvo Car USA reported sales of 12,933 cars in June, up 53.3% compared to the same period last year. The sale of Recharge models — those with a plug-in hybrid or fully electric powertrain — accounted for 29.3% of overall sales in the market, up 79% over the same period last year.  Furthermore, figures from June 2022 were negatively affected by lower production due to last year’s supply chain constraints.

For the first six months of the year, Volvo Car USA sales reached 59,750 cars, up 18.1% compared to the same period during 2022.

Mazda North American Operations reported some of the best numbers in the industry with total June sales of 29,786 vehicles, an increase of 96.9% compared to June 2022. Year-to-date sales totaled 183,783 vehicles; an increase of 28.7% compared to the same time last year. 

Mitsubishi Motors North America reported second quarter 2023 sales of 24,602, an increase of 12.5% over the same period in 2022. Stock levels of the brand’s SUVs began to match consumer demand through the quarter, with Mirage availability expected to increase in the coming months.

Despite dire predictions about the potential impact of a recession and higher interest rates, S&P Global Mobility projects calendar year 2023 new vehicle sales volume in the U.S. to reach 15.1 million units, growth of 9%, or an incremental 1.2 million units, from the 2022 level.

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• Source: https://www.thedetroitbureau.com/2023/07/ford-gm-post-q2-gains-due-to-robust-truck-sales/