The vehicle will go on sale at a GM dealership in Lincolnwood, Illinois, on June 20, 2024.
Scott Olson | Getty Images
Detroit – General Motors It reported its best quarterly sales in three years, and included notable increases in full-size pickup trucks and electric vehicles.
The Detroit automaker reported second-quarter sales of 696,086 vehicles on Tuesday, up 0.6% from a year earlier and marking its highest quarterly sales since the fourth quarter of 2020.
EV deliveries were up 40% from a year ago, reaching 21,930 units. Still, EVs accounted for just 3.2% of total sales in the second quarter.
Auto industry forecasters including Cox Automotive and Edmunds expect overall auto sales for the second quarter, which ends July 1, to be roughly flat compared with the same period last year amid weak retail demand.
The unknown outlier in Q2 is how much of a hit will the cyberattack on dealer software provider CDK Global have on sales. A ransomware attack on June 19 forced market leader CDK to shut down its dealer management system, affecting nearly half of its dealerships in North America.
“The CDK cyberattack derailed sales in the second half of June, impacting one of the most profitable and busiest months and quarters for dealerships,” said Jessica Caldwell, Edmunds’ director of insights.
Dealers, including some of the industry’s largest publicly traded companies, have had to postpone vehicle sales or figure out how to sell them since the attacks.
All six major publicly traded franchise dealership groups have disclosed exposure to CDK issues. Five of the six — Asbury Automotive Group, Autonation Inc., Group 1 Automobile Co., Ltd., Lithia Motors Ltd. and Sonic Automotive, Inc. According to Automotive News, CDK is being used as a major dealership management system supplier.
“The good news is that — unlike other black swan events the industry has experienced in the past — this will not result in lost or significantly delayed revenue, but rather will be pushed into the third quarter,” Caldwell said.
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