GM Says Q3 U.S. Total Deliveries 659,601 Down 2.2% YoY; Q3 U.S. Total EV Deliveries 32,095 Up 60% YoY, Up 46% Over Q2; On Track To End 2024 With 50-60 Day Range Supply Of Vehicles Per Plan; 627,048 Units Of Inventory Heading Into Q4
Portfolio Pulse from Benzinga Newsdesk
General Motors (GM) reported a 2.2% year-over-year decline in total U.S. deliveries for Q3, with 659,601 vehicles delivered. However, GM's electric vehicle (EV) deliveries surged by 60% year-over-year, reaching 32,095 units, and increased by 46% compared to Q2. The company is on track to end 2024 with a 50-60 day supply of vehicles, with 627,048 units of inventory heading into Q4.
October 01, 2024 | 3:03 pm
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General Motors reported a 2.2% decline in total U.S. deliveries for Q3, but EV deliveries increased by 60% year-over-year. The company is maintaining a strong inventory position heading into Q4.
Despite a decline in overall deliveries, the significant increase in EV deliveries is a positive indicator for GM's future growth in the EV market. The company's ability to maintain a strong inventory position suggests good supply chain management, which is crucial for meeting future demand.
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