February 9, 2023
Normal Motors (GM) gross sales This fall 2022

2022 GMC Sierra 1500 Denali Final

GM

DETROIT – Normal Motors reclaimed its U.S. gross sales crown from Toyota Motor final yr because the Detroit automaker eked out a slight achieve in annual U.S. car gross sales regardless of provide chain issues.

GM mentioned Wednesday it bought 2.27 million autos within the U.S. in 2022, up by 2.5% over 2021, together with a 41.4% improve throughout the fourth quarter. Analysts count on total U.S. auto business gross sales to have declined by 7% and 10% final yr in comparison with 2021.

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Normal Motors (GM) gross sales This fall 2022

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Toyota mentioned it bought 2.1 million autos within the U.S. final yr, down 9.6% from 2021. The corporate was capable of handle provide chain issues, particularly with semiconductor chips, higher than others.

Toyota edged out GM in gross sales by 114,034 autos in 2021 – dethroning the Detroit automaker for the primary time since 1931 when it surpassed Ford Motor. Toyota executives beforehand mentioned the highest gross sales spot was unattainable, however CEO Akio Toyoda final yr informed sellers he did a “glad dance” when he heard the information.

Jack Hollis, government vice chairman of Toyota Motor North America, on Wednesday mentioned the Japanese automaker stays centered on retail gross sales, that are historically extra worthwhile than business or fleet gross sales. Toyota has led these gross sales for a number of years.

EVs

Regardless of current criticism of its all-electric car technique, Toyota on Wednesday touted that it leads the nation in electrified car gross sales. These embody hybrid, plug-in and all-electric automobiles and vans.

GM, in distinction, largely ditched hybrids for an all-electric car technique however has been sluggish to ramp up manufacturing. GM’s U.S. EV gross sales represented lower than 2% of its gross sales in 2022.

Comparability of GM and Toyota shares.

In a launch Wednesday, GM referred to as EVs “progress alternatives.” It is anticipated to launch extra mainstream fashions such because the Chevrolet Blazer and Chevrolet Equinox EV crossovers.

GM was capable of obtain file U.S. gross sales of 38,120 Chevrolet Bolt EV and EUV fashions in 2022. Nevertheless, it bought fewer than 1,000 models of its luxurious GMC Hummer EV and Cadillac Lyriq, mixed.

GM mentioned manufacturing of the Bolt fashions is predicted to extend to greater than 70,000 models this yr to fulfill robust international demand. The corporate final yr pushed again plans to provide 400,000 EVs in North America via 2023 to mid-2024.

Pickups

Whereas GM’s future could also be EVs, its current is massive, gas-guzzling pickup vans and SUVs. The Detroit automaker bought greater than 1.1 million mid-size pickups and full-size vans, together with SUVs, in 2022. These gross sales represented almost 50% of their complete annual gross sales.

Such autos are extremely worthwhile and essential to GM’s backside line because it invests in capital-intensive electrical and autonomous autos.

GM has been the highest vendor of pickups for 9 years, together with topping crosstown rival Ford in full-size pickups for 3 consecutive years. Nevertheless, Ford’s F-Collection has been America’s bestselling truck for 46 consecutive years and bestselling car for 41 years.

The accolades come regardless of declining gross sales of full-size pickups for each automakers on account of provide chain points. GM bought 754,876 Chevrolet Silverado and GMC Sierra pickups in 2022, down by roughly 2%. Gross sales of Ford’s F-Collection have been off by almost 13% via November in contrast with a yr earlier, nevertheless Ford mentioned Tuesday that final month’s gross sales have been anticipated to be the perfect of 2022 for the F-Collection.

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