US automakers, such as Ford and General Motors, are seeing profits from the sale of pickup trucks, one of the most profitable segments in the US market. However, they are struggling to compete with Chinese rivals in other markets, particularly in the electric vehicle sector.
Global Divide
The divide between US and international automakers is growing, with US companies benefiting from the high demand for pickup trucks in the US. Stellantis, the world’s fourth-largest carmaker, posted solid growth in the US, with second-quarter sales up 6%, including an 11% increase for high-margin pickup trucks.
In contrast, European automakers such as BMW are struggling, with sales in China falling 30% in the second quarter. The company is now reviewing its working practices, which were once considered ‘untouchable’, after a 35% quarterly profit drop.
Former Aston Martin CEO Andy Palmer noted that US automakers selling pickup trucks are gaining respite from pressures in other markets, but warned that they need to make the transition to electric vehicles to fund their future.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
