General Motors' Q1 was less general and closer to exceptional. 🎩
The company's deliveries increased by 18% YOY to just over 600K. The increase was beefed up by a 38% increase in commercial fleet sales. 🐮
⚡️Electrification? Along with the Q1 reports, GM announced it will build 50K EVs in the first half of 2023 and plans to ramp that number up to 100K in the second half of the year. Which is a weird way to say 150K in 2023, but they get to decide how they talk, just like the rest of us. 🤔
🧅Tucked into GM's good quarter like a bonus onion ring in your order of tots is our good friend, Chevy. More specifically, their BEV sales. 💍
The brand's Q1 had a 15.7% increase in deliveries compared to 2022 but didn't quite hit 2021 numbers. 📈
🪫Of the 398K delivered, almost 20K were BEVs. Around 5% of total deliveries isn't an impressive stat on its own, but compared to Q1 2022's 358 deliveries, it tells a story. 🔋
💰Since both the Bolt and the Bolt EUV are among the most affordable EVs in the US and are covered by $7,500 tax credits, Q2 2023 could be another record quarter for the brand's EV deliveries. 🏆
🛶Unfortunately, Toyota North America didn't catch the rising tide with other automakers. 🌊
The company reported an 8.8% decrease in sales volume in Q1, with a 9.1% decline in March alone.📉
Despite a drop for the quarter, Toyota North America still sold almost 470K vehicles, placing units sold above some companies reporting increased quarters. 🌋
Brand leadership says they will continue to improve inventory while introducing move EV options through 2023. 👩🏭🧑🏭👨🏭