General Motors said Monday that its U.S. new vehicle sales rose 24% in the third quarter. This indicates that the global shortage of computer chips is beginning to ease.
Automakers said 555,580 light trucks and passenger cars were sold in the three months to September 30, compared with 446,997 in the same period in 2021.
Other automakers are expected to report sales totals later on Monday. Ford Motor plans to announce sales on Tuesday.
On Sunday, Tesla announced it delivered 343,000 electric vehicles worldwide in the third quarter. This was up from a year ago, but fell short of analyst expectations. “This quarter was not particularly noteworthy,” Wedbush analyst Dan Ives said in a report.
U.S. totals weren’t available because Tesla doesn’t break down sales by region.
General Motors, like most other automakers, is in the midst of a radical transition to electric vehicles. At the same time, the auto industry is grappling with semiconductor shortages as well as the coronavirus pandemic that is disrupting production in factories around the world.
GM’s third-quarter sales contrasted with weak performance in the same quarter in 2021, when production of key components in Asia took a hit.
GM said it sold more than 14,700 Chevrolet Volt electric vehicles in the third quarter. Volt sales soared after the company lowered the price of its vehicles.
The company said it plans to increase production of the Bolt next year to about 70,000 units, up from an expected output of about 44,000 units this year.
GM started production at its Rosetown, Ohio battery plant in August. Battery packs made there will be used in GM’s electric pickup truck, which he plans to introduce in 2023, and his two electric sport utility vehicles.