Strong demand pushes GM towards impressive 2Q sales results

Shares of Detroit automaker General Motors (NYSE:) jumped as much as 1.11% in mid-day trading on Wednesday after the company reported delivery results for their 2Q of 2023.

According to the release, GM and its dealers delivered 691,978 vehicles in the U.S., up 19% when compared to the same time last year as easing supply chain pressures allowed the automaker to ship more cars and trucks to dealers.

All four of GM’s brands delivered double-digit year-over-year increases in the second quarter, GM Envolve continued its growth with fleet customers and the company expanded its truck leadership.

Buick reported a 48% bump in sales for the 2Q, while Cadillac, Chevrolet and GMC reported between 15% and 18% bumps.

General Motors will report their 3Q financial results on Tuesday, October 3rd.

Shares of GM are up 0.95% in mid-day trading on Wednesday.