Vehicles will be available on June 20, 2024 at a General Motors dealership in Lincolnwood, Illinois.
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Detroit – General Motors reported its best quarterly sales in more than three years, with significant growth in full-size pickup trucks and all-electric vehicles.
The Detroit automaker on Tuesday reported second-quarter sales of 696,086 vehicles, an increase of 0.6% from the year before, its highest quarterly sales since the fourth quarter of 2020.
Its electric vehicle delivery volume increased by 40% year-on-year to 21,930 units. Despite this, electric vehicles accounted for only 3.2% of total sales in the second quarter.
Auto industry forecasters such as Cox Automotive and Edmunds expect industry-wide sales in the second quarter, including July 1, to be roughly the same as last year due to slowing retail demand.
One unknown anomaly in the second quarter is how much of an impact a cyberattack on dealer software provider CDK Global will have on sales. A June 19 ransomware attack forced market leader CDK to shut down its dealer management system, affecting nearly half of its dealers in North America.
“The CDK cyberattack significantly impacted sales in the second half of June, impacting one of dealers’ most profitable and busiest periods of the month and quarter,” said Jessica Caldwell, director of insights at Edmunds.
Since the attacks, dealers, including the industry’s largest publicly traded dealers, have been forced to postpone sales or find workarounds to sell vehicles.
All six major publicly traded franchise dealer groups have disclosed exposure to CDK issues. Five out of six—— asbury automotive group, AutoNation, First Group Automobile Company, Lithia Motors and Sonic Cars — uses CDK as its primary dealer management system provider, according to Automotive News.
“The good news is that unlike other black swan events the industry has dealt with in the past, sales should not be lost or significantly delayed but into the third quarter,” Caldwell said.
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