While supply chain challenges and other economic headwinds weigh on the auto industry, one automaker bucked the trend in S&P’s latest forecast: General Motors.
S&P trimmed its full-year outlook from a quarter ago, and U.S. sales are now predicted to total 14.64 million vehicles by the end of the year — a drop of 435,000 or 2.9 percent, from 2021.
S&P’s July forecasts reduce the outlook for every major automaker in the U.S. market — except one.
GM was the only major automaker to have its 2022 forecast bumped up since April. S&P boosted its full-year outlook for the Detroit automaker by 32,377, or 1.4 percent, to 2.35 million.
Among major automakers, only GM and Ford are predicted to report a year-to-year sales gain. The improving outlook for GM — and deterioration in the forecast for Toyota Motor Corp. — projects a greater likelihood that GM will take back the full-year U.S. sales crown that it lost to Toyota last year after a 90-year reign.
Over the next half-decade, S&P sees GM staying on top of a market that may not return to pre-pandemic levels. S&P projects sales peaking at 16.5 million in 2025. From 2015 to 2019, sales topped 17 million for five straight years.
GM’s sales are seen jumping to 2.68 million next year before sliding throughout the rest of the forecast horizon.
The deepest cut was to Stellantis. S&P sliced its 2022 estimate by almost 150,000 vehicles to 1.72 million. Ford’s outlook dropped 2.3 percent to 1.98 million. The forecast for Toyota was trimmed by 2.9 percent to 2.17 million. S&P shaved only 0.4 percent from its forecast for Seoul-based Hyundai Motor Group, which includes Genesis and Kia, leaving it at 1.49 million.
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.
Please enter a valid email address.
Please enter your email address.
Please verify captcha.
Please select at least one newsletter to subscribe.
See more newsletter options at autonews.com/newsletters.
Sign up and get the best of Automotive News delivered straight to your email inbox, free of charge. Choose your news – we will deliver.
Get 24/7 access to in-depth, authoritative coverage of the auto industry from a global team of reporters and editors covering the news that’s vital to your business.
The Automotive News mission is to be the primary source of industry news, data and understanding for the industry’s decision-makers interested in North America.
1155 Gratiot Avenue
ISSN 0005-1551 (print)
ISSN 1557-7686 (online)
Fixed Ops Journal
ISSN 2576-1064 (print)
ISSN 2576-1072 (online)