GM has become a leader in auto sales
2023.01.04 11:59
GM has become a leader in auto sales
Budrigannews.com – The General Motors Corporation on Wednesday announced a 2.5% increase in new vehicle sales in the United States in 2022, surpassing Toyota Motor (NYSE:) of Japan. Corp., helped by lessening shortages of inventory and strong demand for its automobiles and trucks.
The American automaker claimed that its 2022 sales would surpass Toyota’s annual total of 2,108,458 vehicles.
Parts shortages have been particularly severe for Toyota, causing the automaker to reduce its full-year production target in November. In 2022, its SUV sales, a crucial market segment, decreased by 8.6%. According to Cox Automotive, an industry consultant, full-year U.S. auto sales are expected to be around 13.9 million units, down 8% from 2021 and 20% from the peak in 2016.
As a result of rising material costs and a persistent chip shortage, inventory shortages extended into 2022, halting production at numerous automakers. Even though auto inventory increased in the second half of the year, prices for cars and trucks remained high due to a lack of supplies.
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