General Motors Co (NYSE:GM) posted first-quarter sales of over 20,000 EVs in the U.S.
What Happened: General Motors sold over 20,000 EVs in a quarter for the first time in the first quarter of 2023, the company said in a statement. The sales were mostly spurred by Chevrolet Bolt EVs and EUVs.
The company sold a total of 603,208 vehicles in the U.S. in the first quarter, marking an increase of 18%. Meanwhile, market share rose by an estimated 1.5 points.
Sales growth was reported across brands; Buick sales jumped 99%, Chevrolet sales rose 16%, Cadillac sales by 29%, and GMC by 8%.
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As for the future quarters, the Detroit-based automaker reiterated its production guidance. General Motors is on track to build 50,000 EVs in North America through June and double that in the second half, the company said.
Rival and EV giant Tesla Inc (NASDAQ:TSLA) on Sunday reported a 36.39% year-over-year increase in deliveries to 422,875 units, beating analyst estimates.
Price Action: Shares of General Motors rose 0.1% in extended trading after closing 0.03% higher at $36.28, according to data from Benzinga Pro.
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