General Motors said on Friday that its new-vehicle sales fell 15 percent in the second quarter from a year earlier as the global shortage of computer chips continued to limit automakers’ production.
The company sold 582,401 cars and light trucks from April to June, compared with 688,236 in the same period a year ago.
G.M. said its factories were holding 95,000 vehicles manufactured without certain electric components that are in short supply because of the chip shortage. It plans to install the parts when they become available and then ship those vehicles to dealers.
“We will work with our suppliers and manufacturing and logistics teams to deliver all the units held at our plants as quickly as possible,” said Steve Carlisle, executive vice president and president, North America.
In filing to the Securities and Exchange Commission, G.M. said most of the 95,000 vehicles missing parts were produced in June. It said the backlog would affect second-quarter net income, which it projected to be $1.6 billion to $1.9 billion. A consensus of analysts’ forecasts compiled by Bloomberg had pointed to earnings of $2.4 billion.
Because the company expects to ship most or all of the 95,000 partly completed vehicles by the end of the year, it reaffirmed its full-year outlook for net income of $9.6 billion to $11.2 billion.
The company’s shares rose 2 percent in early trading.
G.M. also reported that sales of electric vehicles in quarter rose to more than 7,300, from fewer than 500 in the first quarter.
Its Chevrolet division sold 6,945 Bolt EVs, up from 358 in the first quarter. G.M. recently resumed production of the Bolt after a halt of several months over a defect in the car’s battery pack. Because of the defect, G.M. recalled all 140,000 Bolts it had manufactured to replace their battery packs.
The company’s GMC division sold 272 Hummer luxury electric trucks, and increase from 99 in the first quarter.
G.M. also began shipping electric delivery vans to FedEx and other customers and began producing the Cadillac Lyriq, an electric sport-utility vehicle. It has enough orders for all of the Lyriqs it plans to make for the 2023 model year, and on June 22 it began taking orders for 2024 models.
A battery plant that G.M. built with LG Energy Solution in Lordstown, Ohio, should begin production in August, the company said.
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