Big Three Automakers Report Strong Demand

April 4, 2023

Good news for automotive steel demand: Two of the Big Three US automakers reported strong sales growth in the first quarter of the year.

Sales were higher for both Ford Motor Co. and General Motors Co., while FCA US, the North American automaker subsidiary of Stellantis, saw lower Q1 sales.

Ford

Dearborn, Mich.-based Ford’s Q1 sales increased 10.7% year on year (YoY) to 456,972 vehicles.

“Ford is off to a fast start to the year. Ford’s sales growth and investments are a direct result of strong customer demand across our truck, SUV, and electric vehicle segments,” said Andrew Frick, Ford’s vice president of sales distribution and trucks.

Ford’s EV sales of 10,866 were up 41% YoY but accounted for just 2.2% of total Q1 sales. Sales of vehicles with internal combustion engines were up 10.5% while hybrid vehicle sales declined 4.1%.

During April, Ford is adding a third crew at its Kansas City Assembly Plant to increase production of Transit and E-Transit vans. Production is also being raised at other plants across North America “to meet strong customer demand” for certain vehicles, Ford said.

General Motors

GM’s quarterly deliveries were up 17.6% YoY to 603,208 vehicles.

“GM is off to a great start in 2023. We gained significant market share in the first quarter, pricing was strong, inventories are in very good shape, and we sold more than 20,000 EVs in a quarter for the first time,” commented Steve Carlisle, GM’s executive vice president and president of North America.

Detroit-based GM says it is on track to build 50,000 EVs in North America in the first half of the year and will double that in the second half.

Vehicles in inventory at the end of Q1 were reported to be 412,285 – about even with the end of Q4.

FCA US

Auburn Hills, Mich.-based FCA US reported a 9% YoY decline in total Q1 sales to 368,237 vehicles, said Netherlands-based parent company Stallantis. At the same time, sales of its Chrysler and Dodge brands were up 10% and 24%, respectively.

“As we continue to navigate the market conditions transpiring across the automotive industry, together with our dealer network, we are making the necessary adjustments to meet our customer’s expectations,” said Jeff Kommor, head of sales for FCA US, while also noting strong demand for the company’s plug-in hybrid vehicles.

By Laura Miller, laura@steelmarketupdate.com

Automotive

Laura Miller

Laura Miller is a reporter and editor for Steel Market Update. She has held a variety of positions within the steel industry since 2007, including reporting and editing for Steel Business Briefing/Platts, the Association for Iron and Steel Technology, and Kallanish Commodities, as well as marketing for what was then known as ThyssenKrupp Steel USA (now AM/NS Calvert). After a five-year hiatus working across other industries, she returned to steel in 2021 and has covered the flat rolled, tubular, and trade areas of the industry. She is a member of the Association of Women in the Metal Industries and a past-president of the AWMI Pittsburgh Chapter. She holds a BA in Latin American Studies from Edinboro University of Pennsylvania. She can be reached at laura@steelmarketupdate.com or 724-759-7869.