CAAM: Top 10 SUV Makers Report Combined Sales of 5.137M Units in H1 2023

On July 21, General Motors projected adjusted earnings per share (EPS) of $12 to $14 for the current fiscal year, compared with the prior forecast of $11.50 to $13.50. The company posted net sales and revenue of $48.03 billion in the second quarter versus the estimated $46.61 billion. Adjusted EPS stood at $3.57, beating the consensus estimate of $3.19. General Motors expects full-year adjusted EBIT to range between $14 billion and $16 billion, upwardly revised from the previous forecast of $13.5 billion to $15.5 billion, against the market consensus of $14.38 billion. The automaker anticipates stronger performance in 2027 than in 2026, with multiple key drivers fueling growth in revenue, profit margins, EBIT and free cash flow.

On July 21, the Henan Provincial Government Information Office held a press conference on further consolidating and expanding the steady and positive economic momentum of Henan Province in the second half of 2026. Song Yuzhe, Member of the Party Leadership Group and Deputy Director of the Henan Provincial Department of Commerce, introduced that Henan will continue to roll out the consumer goods trade-in program in the second half of the year. Individual consumers engaging in vehicle scrappage renewal and vehicle trade-in renewal will receive subsidies capped at RMB 20,000 and RMB 15,000 respectively on a proportional basis. Purchasers of six categories of home appliances within the subsidy scope, namely refrigerators, washing machines, televisions, air conditioners, computers and water heaters, can claim subsidies of up to RMB 1,500. Subsidies of a maximum RMB 500 are available for four types of smart digital products including mobile phones, tablets, smart watches and bracelets, and smart glasses. It is expected that more than ten million consumers will benefit from the policy.

Korea’s domestic NEV sales rose 22.1% month on month to 93,722 units in June, while combined BEV, HEV and PHEV exports increased 23.3% to 102,551 units. HEVs accounted for about 78% of incremental growth in both markets. BEV volumes also posted double-digit gains, but their share declined as HEVs expanded faster, highlighting a gap between overall vehicle-market recovery and the pace of BEV-led electrification.