GM reclaims title from Toyota as top car seller in America

Business

(NewsNation) — General Motors has regained its crown as the top car seller in America, one year after losing the title it held for nearly a century.

GM reported Wednesday a total of 2.27 million vehicles sales in the U.S. in 2022, buoyed by a strong fourth quarter that was up 41% from a year ago. Total sales for the year were up 3% from 2021.

The Detroit automaker beat out Toyota, which sold 2.1 million vehicles in the U.S. last year, down 9.6% from 2021. That was despite 13% increase in fourth quarter sales. Toyota had edged out GM in sales by 114,000 vehicles in 2021, knocking GM out of the top spot for the first time since 1931.

Steve Carlisle, executive vice president of GM, said the company is “carrying strong momentum” into 2023.

“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,” Carlisle said in a statement.

The company expects to produce more than 70,000 units of the Chevrolet Bolt EV and Bolt EUV, and a GMC Hummer EV SUV is planned to launch midyear.

Supply chain issues have hampered automakers over the last two years, and total U.S. new vehicle sales are expected to be down to just less than 14 million vehicles when the rest of the industry reports later this week, CNN reported. It would be the lowest total sales since 2011.

While all automakers have been making a push in the EV sector, trucks and SUVs remain the GM’s bread and butter. The company sold 1.1 million units in 2022, nearly 50% of their total annual sales. Electric represented less than 2% of its sales, CNBC reported.

By contrast, electrified vehicles — including hybrid, plug-in and all-electric — accounted for nearly 24% of Toyota’s total annual sales.

“In 2022, we further solidified our leadership position in electrified vehicles, and through our 20 electrified options, we’re giving customers a choice that fits their lifestyle and needs,” said Jack Hollis, executive vice president of sales for Toyota Motors North America.

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