General Motors Increases Q1 Retail Sales 6%, Reports Overall 1.5% Dip

General Motors Co. in Detroit and its dealers increased retail sales by 6 percent year-over-year and delivered 594,233 vehicles in the U.S. in the first quarter of 2024. Overall sales were down 1.5 percent year-over-year due to lower fleet deliveries.
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Chevrolet Silverado Crew Cab
GM sold almost 600,000 vehicles in the first quarter of 2024, with sales of the Silverado Crew Cab LD/HD up 56 percent compared to 2023. // Photo courtesy of Chevrolet

General Motors Co. in Detroit and its dealers increased retail sales by 6 percent year-over-year and delivered 594,233 vehicles in the U.S. in the first quarter of 2024. Overall sales were down 1.5 percent year-over-year due to lower fleet deliveries.

GM reported temporary production constraints affected the sale of its Envolve fleet business unit, which saw sales drop 23 percent.

According to GM, the company continued its industry leadership in full-size pickup, full-size SUV, and affordable small SUV sales, and its scaling of Ultium platform EV production is on track.

“Our brands are all performing well,” says Marissa West, senior vice president and president, North America for General Motors. “GM gained retail market share year-over-year with strong mix and pricing, our inventories are in good shape heading into the spring, and production and deliveries of Ultium Platform EVs are rising, led by the Cadillac Lyriq. We’re on plan.”

GM reported total first quarter sales of 594,233. The Buick brand reported Envista enjoyed its best quarterly sales ever. About 70 percent of Envista buyers were new to the brand and Buick leads mass-market brands in customer satisfaction with dealer service, according to independent reports.

Total full-size pickup sales reached 197,000, the company’s best first quarter in that category since 2020. Total full-size SUV sales were 51,000, while what GM calls affordable SUV sales reached 90,000.

GM also reported the company was number one in overall loyalty to manufacturer for the eighth consecutive year.

The Chevrolet brand reported its best first quarter Silverado Crew Cab LD and HD retail sales, which were up 56 percent. The redesigned Chevrolet Colorado was reported to be the fastest growing midsize pickup in the month of March. Trax sales were up 481 percent for the quarter, while crossover retail sales were up 11 percent. Corvette sales were up 9 percent for the quarter.

Cadillac reported sales for the brand were up 9 percent in the first quarter of 2024 compared to the same time in 2023. That was good enough for Cadillac to have its second best first quarter since 2015. Lyriq sales reached 5,800 units and the Escalade retail sales were up 10 percent, including a 56 percent increase for the Escalade V-Series edition of the vehicle. XT6 sales were up 6 percent.

The GMC brand reported a slight sales increase of 3 percent for the first quarter of 2024. Canyon sales were up 4 percent and the Sierra LD/HD edition saw a 4 percent increase, making it the best first quarter for the model.

GM expects the rest of 2024 to be busy for the company. Chevrolet is launching the 2024 Traverse in the second quarter, while the 2025 Chevrolet Equinox will hit showrooms in mid-2024. GMC is launching the 2024 Acadia in the second quarter, while the 2024 Silverado EV RST will be available in the second half of the year. The 2024 Equinox EV is coming soon and the 2024 GMC Sierra EV will be launched this summer.