Photo: GM / Toyota
The United States automotive sales were only subtly on the rise during the year's second quarter as customers didn't like the still-high prices despite the increasing discounts and down-trending MSRPS.
The situation could brighten on the horizon – according to The Washington Post, automotive industry analysts predict further price drops, and the potential of interest-rate cuts might help loans become slightly more affordable. According to preliminary data, US sales rose just 0.1% compared to 2023, and June was especially catastrophic due to cyberattacks that crippled dealership software.
Companies such as General Motors said that some sales had to be pushed to the third quarter of the year due to the problem. Still, analysts say that, nevertheless, inventories are on the rise for pickup trucks and other high-priced vehicles as people wait for larger discounts. Together, automakers have sold around 4.13 million vehicles during Q2, putting them on track for deliveries of around 16 million units this year, slightly above last year's total of 15.6 million.
Separately, GM barely kept its lead across the US market as it delivered 696,086 vehicles during the second quarter – up 0.6% and totaled 1,290,319 units after the first six months of the year. The performance is overall negative – it slipped 0.4% year-over-year. "We have an incredible portfolio of diverse vehicles, and we're flexible, so we can win as more customers embrace EVs, and we can keep winning if they want to stay with the engine technologies they know," said Marissa West, GM senior vice president, and president, North America.
The company said it is growing in terms of EV sales, pulling ahead in the pickup truck category (but Ford hasn't yet shared the sales data at the time of writing this article), and is loading all the bases it can find with new SUVs. Well, it remains to be seen if it will be enough to keep them ahead of their closest pursuer – Toyota. The Japanese automaker said that its Toyota Motor North America (TMNA) division reported second-quarter sales of 621,549 vehicles, up 9.2 percent compared to Q2 of 2023.
The total is an impressive 1,186,647 units, a rise of 14.3% after the first half of the year – and it's just 103,672 vehicles behind General Motors. This will surely make a very interesting second half of the year. Meanwhile, Stellantis is free-falling without a parachute – they only announced the Q2 results at the moment, with the first-half tally reserved for another presentation on July 25.
They're breaking up the bad news, for sure, as the Q2 sales plummeted 21% to just 344,993 vehicles. Naturally, they're countering the slump with new offers: "Beginning today (July 02), we are launching a national 'Summer Select Inventory Bonus Cash' incentive campaign, which will provide up to $2,000 cashback across many of our nameplates," said Matt Thompson, head of US retail sales.
Companies such as General Motors said that some sales had to be pushed to the third quarter of the year due to the problem. Still, analysts say that, nevertheless, inventories are on the rise for pickup trucks and other high-priced vehicles as people wait for larger discounts. Together, automakers have sold around 4.13 million vehicles during Q2, putting them on track for deliveries of around 16 million units this year, slightly above last year's total of 15.6 million.
Separately, GM barely kept its lead across the US market as it delivered 696,086 vehicles during the second quarter – up 0.6% and totaled 1,290,319 units after the first six months of the year. The performance is overall negative – it slipped 0.4% year-over-year. "We have an incredible portfolio of diverse vehicles, and we're flexible, so we can win as more customers embrace EVs, and we can keep winning if they want to stay with the engine technologies they know," said Marissa West, GM senior vice president, and president, North America.
The company said it is growing in terms of EV sales, pulling ahead in the pickup truck category (but Ford hasn't yet shared the sales data at the time of writing this article), and is loading all the bases it can find with new SUVs. Well, it remains to be seen if it will be enough to keep them ahead of their closest pursuer – Toyota. The Japanese automaker said that its Toyota Motor North America (TMNA) division reported second-quarter sales of 621,549 vehicles, up 9.2 percent compared to Q2 of 2023.
The total is an impressive 1,186,647 units, a rise of 14.3% after the first half of the year – and it's just 103,672 vehicles behind General Motors. This will surely make a very interesting second half of the year. Meanwhile, Stellantis is free-falling without a parachute – they only announced the Q2 results at the moment, with the first-half tally reserved for another presentation on July 25.
They're breaking up the bad news, for sure, as the Q2 sales plummeted 21% to just 344,993 vehicles. Naturally, they're countering the slump with new offers: "Beginning today (July 02), we are launching a national 'Summer Select Inventory Bonus Cash' incentive campaign, which will provide up to $2,000 cashback across many of our nameplates," said Matt Thompson, head of US retail sales.
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