GM retakes top sales spot from Toyota with strong 2022 finish

GM retakes top sales spot from Toyota with strong 2022 finish

01/04/2023

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General Motors sales were up 2.5% in 2022 thanks to a strong fourth quarter as supply chain issues improved and production continued to catch up to demand.

The automaker's four main brands saw a combined 41.4% increase in deliveries in the last three months of the year compared with the same period in 2021, when the semiconductor shortage began hitting the industry hardest.

GM reclaimed the sales lead from Toyota, which knocked it off the top spot for the first time in 90 years in 2021, delivering 2,274,088 vehicles compared to its rival's tally of 2,108,458, which represented a 9.6% drop.

GM shares climbed on the news.

TickerSecurityLastChangeChange %
GMGENERAL MOTORS CO.33.82+0.18+0.54%

GENERAL MOTORS NEWEST BUSINESS? REPAIRING TESLAS

GM sales were up in 2022. (REUTERS/Andrew Kelly)

GM also outsold Ford in full-size trucks for the third year in a row, when combining Chevy and GMC sales, and was the top-selling pickup brand overall.

TickerSecurityLastChangeChange %
FFORD MOTOR CO.11.68+0.05+0.43%

Buick was the outlier among the GM nameplates, with its four-model down 42.4% for the year while Cadillac, Chevrolet and GMC were all in positive territory.

GM North America president Steve Carlisle sees opportunity for growth in 2023. (REUTERS/Rebecca Cook)

"GM is carrying strong momentum in North America into 2023," Steve Carlisle, GM executive vice president and president of GM North America, said in a news release.

WITH NEW EVS ARRIVING, BRAND LOYALTY GOES OUT THE WINDOW

Chevrolet Bolt sales were up in 2022. (Copyright: Chevrolet)

Carlisle highlighted opportunities next year in both the truck and EV segments, where several new models will be released.

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Sales of the Chevrolet Bolt EV and EUV increased 53.5% to 38,120 units in 2022, helped by a sharp mid-year price cut that made them the lowest-priced EVs on sale.

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