Automakers are starting to report their monthly sales results for June and the second quarter. General Motors’ light-vehicle sales fell 15% in Q2 as global supply shortages and shipping issues continued to hinder automakers’ ability to produce cars.
Car part shortages and raw material price hikes have caused EV companies grief, including key players like Chevrolet, GMC, Buick, and Cadillac. The most surprising drop in inventory was Buick, as they fell short 53% and falling. GM is struggling to the point where over 95,000 vehicles are sitting in a warehouse storage unit waiting for parts to fix and finish the cars.
Toyota reported an 18% decline in June deliveries to 170,155, and Q2 volume declined in Q2 531,105 after surpassing GM previously.
Sales at Toyota fell 18% in June, marking the brand’s eleventh consecutive month of decline. Lexus fell 15%, marking its fifth straight month of decline as well.
Leading Toyota models: Camry (down 27%), Highlander (down 34%), and Tacoma (down 14%) all had double-digit reductions in June.
Nissan Motor Corp.’s second-quarter volume fell 39% to 183,171, the company’s most significant drop in the previous four quarters.
Due to decreased deliveries, volume at Hyundai and Kia fell in June by 13% and 4.9%, respectively. For both automakers, it was the fourth consecutive month of decline.
Hyundai is also disappointed by their numbers as they dropped 13%. The expected car production for Hyundai was 18,641. However, they only reached 17,922 cars by the end of June. Car market analysts are still waiting on second quarterly reports for other EV companies like Ford Motor Co. and Volvo. Experts only expect Tesla to rise higher in second-quarter sales compared to first-quarter sales, but even Tesla is slow in production.
According to projections, June’s SAAR will total 13 million to 13.8 million, up from May’s rate of 12.81 million, which was the lowest of the year thus far.
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