General Motors sold 2.27 million vehicles in the U.S. last year—reclaiming its position as the top seller in the nation.
Key Details
- GM’s sales rose 2.5% during 2022, bringing the total units sold to 2.27 million.
- The automaker beat out Toyota, which held the title last year. Toyota’s sales were down 9.6% from last year for a total of 2.1 million vehicles sold in the U.S.
- Overall auto sales in the U.S. are projected to have declined between 8% and 10% from 2021, CNBC reports.
Why it’s news
In 2021, Toyota narrowly beat out GM in sales—winning by just 114,034 vehicles. Toyota’s victory shocked the auto industry as GM had been the top seller since 1931.
During 2022, Toyota may have been more affected by supply-chain shortages than GM. As an Asia-based brand, Toyota’s needed materials were often hard to come by.
Though nearly every car brand has been affected by supply-chain difficulties, Detroit-based GM did not face the same level of difficulty.
While GM’s sales may have increased last year, the U.S. auto industry is expected to drop from the previous year. Experts predict less than 15 million units will be sold in 2023—an 8% drop from 2021 and a 20% drop from 2016, Reuters reports.
Backing up a bit
GM and Ford race to be the leaders in the next generation of automobiles—and the two companies have taken different approaches to their next steps.
While looking to the future, GM has chosen to diversify its investment in electric (EVs) and self-driving vehicles. On the other hand, Ford Motor has turned away from any focus on autonomous cars and entirely on EVs and already-developed technologies.
The automakers have long competed with one another, but the race for the best EVs has added another level to the competition.
GM initially invested in EVs and autonomous vehicles first, giving it a head start. Its recent third-quarter results were significantly better than Ford’s.
