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Friday, December 2, 2022
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US: GM Plug-In Vehicle Sales Disappoint In Q1 2022

The first quarter of 2022 happened to be very challenging for General Motors, as the total vehicle sales decreased 20% year-over-year to 512,846.

That includes 344,033 Chevrolet vehicles (down 19.6% year-over-year) and 121,437 GMC (down 7.5%). The two brands sold only 457 plug-in electric vehicles in the US and that’s all – a very disappointing 95% decrease year-over-year and 0.1% of the total volume.

While the company (and the entire automotive industry) is significantly impacted by manufacturing constraints, demand appears to remain strong.

Specifically, demand for plug-in electric vehicles is very high, but it seems that GM needs more time to significantly rebound from the bottom of Q4 2021, when plug-in vehicle deliveries in the US hit rock bottom at 26 units.

In the long term, the plan is to increase EV sales in North America to more than 1 million by the end of 2025.

from left: 2022 Chevrolet Bolt EV & 2022 Chevrolet Bolt EUV

2022 GMC Hummer EV Edition 1 Pickup in Production, Ready for Customer Deliveries 2022 GMC Hummer EV Edition 1 Pickup in Production, Ready for Customer Deliveries

When it comes to detailed results, the Chevrolet Bolt EV/Bolt EUV (affected by a massive battery recall) remains low, while the GMC Hummer EV Pickup is ramping up.

  • Chevrolet Bolt EV/Bolt EUV: 358 (down 96% year-over-year from 9,025)
  • GMC Hummer EV Pickup: 99 (new)
  • Total: 457 (down 95%)
    * excluding an undisclosed number of BrightDrop EVs

According to GM, the launch of the GMC Hummer EV Pickup “is going according to plan, with early production focused on satisfying orders of the launch edition.” The company has more than 65,000 reservations for this model.

In the case of the Chevrolet Bolt EV/Bolt EUV, series production is expected to resume on April 4:

“Production of the Chevrolet Bolt EV and Bolt EUV will resume on April 4. Chevrolet dealers continue to repair customer vehicles and recently resumed deliveries of some completed Bolt EV and Bolt EUVs in inventory.”

The good news is that the Cadillac Lyriq entered production in Tennessee ahead of schedule and is expected to be launched this quarter.

“Production of the Cadillac LYRIQ began on March 21, nine months ahead of the company’s original target. Cadillac will begin taking orders for future editions on May 19.”

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