(Finance) – The car manufacturer General Motors has sold 582,401 vehicles in the United States in the second quarter of 2022, in 15% decrease year over year. Despite this, the company increased its sales and market share sequentially for the third consecutive quarter.
GM ended the month with 247,839 vehicles in dealership inventory, including units in transit to dealerships. However, the wholesale volumes of vehicles were affected by the shortage of semiconductor supplies and other outages supply chain, mainly in June.
Consequently, GM will have approx 95,000 vehicles without certain components in the company inventory until their completion and will recognize revenues when they are sold to dealers, which is expected to happen in the second half of 2022. The impact of these events it should not have an impact on guidance on earnings for the full year, the company points out.
In 2021, for the first time since 1931, General Motors it wasn’t the automaker that sold the most vehicles in the nation, overtaken by the Japanese Toyota.