GM, Ford U.S. Sales Rise; Mustang Mach-E Roars As VW Reports First ID.4 Sales

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Here is how automakers carried out in opposition to automotive data web site Edmunds’ expectations. The outcomes present Q1 volumes in addition to gross sales development or decline vs. a yr in the past.

General Motors

Q1 auto gross sales estimate: 645,516; up 4.4%.
Results: GM delivered 642,250 autos, up 3.9%, helped by usually sturdy SUV and truck gross sales. Retail gross sales elevated 19% and fleet gross sales fell 35%. All of its manufacturers grew Q1 gross sales double digits besides Chevy, which fell practically 2%. Bolt EV gross sales elevated 54% to 9,025, amid a refresh.

GM provided an replace on the worldwide semiconductor scarcity.

“GM is building some vehicles without certain modules when necessary. They will be completed as soon as more semiconductors become available, which will help GM quickly meet strong expected customer demand during the year. GM also targets recovering lost car and crossover production where possible in the second half of the year,” it mentioned within the Q1 gross sales launch.

GM ended Q1 with 334,628 models in stock, down 76,247 models from the tip of This autumn. To assist sellers drive sturdy gross sales with decrease stock, GM introduced the launch of recent proprietary software program and instruments.

GM stock rose 0.6% on the stock market today.

Toyota Motor

Q1 gross sales estimate: 594,283; up 19.9%.
Results: Toyota bought 603,066 autos, a 22% improve. March gross sales jumped 87%, lapping the pandemic hit to gross sales final March. In Q1, vehicles and SUV gross sales leaped greater than 30%, whereas passenger vehicles rose 6%. Toyota inventory fell 1.6=2%.

Ford Motor

Q1 auto gross sales estimate: 511,510; down 0.9%.
Results: Ford bought 521,334 autos, up 1%. Sales elevated 5% for Ford vehicles and 14% for SUVs, however dived 57% for passenger vehicles, as Ford ditches vehicles just like the Fusion and Fiesta. Retail gross sales jumped 23%.

Notably in Q1, Ford bought 6,614 Mustang Mach-E electrical crossover autos, up from simply 3 in This autumn.

Ford inventory dipped 0.65%.

Volkswagen

Volkswagen Q1 gross sales jumped 21% to 90,853 on strong SUV demand. That contains 474 models of the ID.4, which solely went on sale within the U.S. in late March.

VW inventory slid 2%.

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For Q1, Cox tasks U.S. auto gross sales of about 3.8 million autos, up about 9% from a yr earlier, as a surge in retail demand offsets weak fleet demand. Prices are additionally up, and J.D. Power estimates shopper spending on new vehicles jumped 31% in Q1 to a report $177.9 billion.

For the month of March, analysts at J.D. Power and LMC Automotive forecast an annualized fee of 16.5 million autos, up from February’s 15.7 million tempo and 11.4 million a yr in the past.

Due to the worldwide chip scarcity, Ford is slicing manufacturing at six North American crops, which make pickups, vans, SUVs and crossover, the corporate mentioned late Wednesday. Ford additionally idled a manufacturing facility that makes its bestselling F-150 vehicles for a number of days final week.

In February, GM halted manufacturing at factories in Kansas, Canada, Mexico, Brazil and South Korea. It now expects a few of these suspensions to proceed by April. This week, the scarcity compelled GM to droop manufacturing of midsize vehicles in Missouri and it additionally will prolong downtime by two weeks at a Michigan manufacturing facility.

Both GM and Ford earlier warned that the chip scarcity will reduce 2021 earnings by roughly $1 billion to $2.5 billion

Find Aparna Narayanan on Twitter at @IBD_Aparna

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