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Different brands across the globe are now undergoing a dip in their sales in the first quarter of 2022, and that was a result of the semiconductors and chips shortage which led to less cars in showrooms and higher prices. All of these factors caused a sales drop of 16.6% in the American markets in the first quarter.
Sales Results in the First Quarter of 2022
- General Motors sales decreased by 20.4%, and its subsidiary companies suffered from the following numbers:
- Buick dropped 58.2% in sales
- Dodge dropped 36% in sales
- Chrysler dropped 27% in sales
- Ram dropped 15% in sales
- Honda shares dropped by 23%
- Toyota shares dropped by 14.9%
- Nissan shares dropped by 28%
- Porsche sales are down by 24.9%
- Volkswagen sales as a whole dropped by 23.2%
In spite of the disastrous circumstances these companies are going through, many others are hitting good numbers and making progress this year, for instance, BMW's sales rose by 3.8%, along with Rolls Royce and MINI, not to mention Genesis who hit an impressive sales number of 42.6%.
This crisis resulted in an unexpected growth in the EV segment, as Hyundai stated that 16% of the Q1 sales were EVs, there is also gas prices skyrocketed in many countries, which tempted many consumers to use green technology.
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