General Motors appears to be one of the few automakers who made it out of a turbulent 2022 with progress in sales domestically.
GM reported a 2.5% sales increase in 2022, selling nearly 2.3 million cars in the U.S.
Supply chain issues, inventory problems and a drop in demand appeared to plague the industry overall, with several automakers reported varying degrees of decreases in U.S. sales.
Stellantis, for instance, reported a 13% drop in domestic sales, while Toyota’s sales fell some 9.6% to just over 2.1 million cars. Industry-wide sales are expected to come in just under 14 million vehicles, according to the Wall Street Journal, which would be the lowest total in a decade and an 8% drop from 2021.
The industry had been over 17 million in sales for five straight years, and executives were hoping for a better 2022. But the chip shortage, the war in Ukraine and other factors contributed to a slowing of sales.
“When we started the year off, the whole industry had projections … above 16 million,” Jack Hollis, North American sales chief for Toyota, told the WSJ.
The nearly 2.3 million sales in 2022 allowed GM to regain its position as the top-selling U.S. automaker (GM lost that crown in 2021 to Toyota).
“GM is carrying strong momentum in North America into 2023,” GM President of North America Steve Carlisle said in a statement, according to The Detroit News. “We see opportunities to grow our EV market share with nine all-electric models on sale, expand our truck leadership with four new Chevrolet and GMC heavy-duty and midsize pickups, and win new customers with the affordable and stylish 2024 Chevrolet Trax, which is the best entry-level vehicle we’ve ever built.”