General Motors (GM) on Monday reported that sales climbed nearly 24% for the third quarter. COVID-related supply issues had hampered production for the company and its competitors for nearly two years.

The Detroit-based carmaker said it sold 555,580 vehicles in the quarter, a 66% increase from the same period last year. The company said it attained a "sales trifecta" in the latest quarter, making sales gains in the full-size SUVs, large luxury SUVs and pickup truck markets.

Sales of the Chevrolet Silverado HD and GMC Sierra HD increased after GM ramped up manufacturing. GM said the Cadillac Escalade retained its spot as the best-selling large luxury SUV for the third calendar year and quarter.

The company also said the Chevrolet Bolt EV line yielded the best quarterly sales to date. The company has prioritized electric vehicles in recent years.

GM reported its gains even as the auto industry is still hobbled by computer chip and parts shortages. GM said it has been able to invest in producing batteries, increasing manufacturing, and expanding inventory.

"The design, technology and manufacturing investments we have made are helping us meet strong customer demand for our products, and they've translated into sales leadership in some of the industry's most important segments," Steve Carlisle, GM's executive vice president said in a statement.

GM reported a sales decline in the second quarter, even as its market share grew.

Shares of GM on Monday closed at $32.87, a gain of $0.78, or 2.43%.

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