General Motors (GM) announced an impressive 21% surge in its third-quarter U.S. auto sales, marking a notable rebound compared to the same period the previous year. The company attributed this significant uptick in sales to several key factors, including improved supply chain conditions and continued robust demand for their SUVs and pickup trucks.
During the third quarter, GM managed to sell a total of 674,336 vehicles in the United States, a substantial increase from the 555,580 vehicles sold in the corresponding quarter of the prior year. This surge in sales mirrors a broader trend in the U.S. automotive market, where customers have been showing a strong appetite for purchasing new vehicles, particularly in the categories of SUVs and trucks.
This positive performance is not unique to General Motors alone. Other major automakers operating in the U.S. market, such as Toyota, Kia, and Hyundai, also reported gains in their third-quarter U.S. auto sales. These companies have benefited from a combination of factors, including improved supply chain stability and enticing financing offers that have incentivized consumers to invest in personal mobility.
However, it’s important to note that not all is smooth sailing for the automotive industry in the United States. The ongoing coordinated strike by the United Auto Workers (UAW) union, which has targeted specific facilities at the Detroit Three automakers, poses a potential threat to the supply of new vehicles in the coming fourth quarter. While General Motors did not explicitly address the impact of this latest strike in their announcement, history provides a cautionary tale. A 40-day UAW strike in 2019 resulted in a 6% decline in sales for GM in the fourth quarter of that year and incurred significant costs, totaling $3.6 billion for the automaker.
