2022 GMC Sierra 1500 Denali Ultimate
GM
Detroit – General Motors reclaimed its US sales crown from toyota motor Last year, the Detroit automaker posted a modest gain in annual US vehicle sales despite supply chain problems.
GM said Wednesday it expects to sell 2.27 million vehicles in the US in 2022, up 2.5% from 2021, including a 41.4% increase during the fourth quarter. Analysts expect total US auto industry sales to decline between 7% and 10% in 2021 compared to last year.
Toyota said it sold 2.1 million vehicles in the US last year, down 9.6% from 2021. The company was able to manage supply chain problems, particularly with semiconductor chips, better than others.
toyota overtook GM in sales by 114,034 vehicles in 2021 — marking the first time the Detroit automaker has surpassed it since 1931 ford motor, Toyota executives previously said the top selling position was unattainable, but CEO Akio Toyoda told dealers last year did a “happy dance” when he heard the news.
Jack Hollis, executive vice president of Toyota Motor North America, said Wednesday that the Japanese automaker is focused on retail sales, which have traditionally been more profitable than commercial or fleet sales. Toyota has led those sales for several years.
EVS
In-spite of this recent criticism In a nod to its all-electric vehicle strategy, Toyota on Wednesday said it leads the country in sales of electrified vehicles. These include hybrid, plug-in and all-electric cars and trucks.
In contrast, GM has largely abandoned hybrids for a fully electric vehicle strategy, but has been slow to ramp up production. GM’s US EV sales represent less than 2% of its sales in 2022.
Comparing GM and Toyota stocks.
In a release Wednesday, GM called EVs a “growth opportunity.” Chevrolet is expected to release more mainstream models such as the Blazer and Chevrolet Equinox EV Crossover.
GM were able achieve record US sales 38,120 Chevrolet Bolt EV and EUV models in 2022. However, it sold less than 1,000 units of its luxury GMC Hummer EV and Cadillac Lyriq combined.
GM said production of Bolt models is expected to increase to more than 70,000 units this year to meet strong global demand. The company last year pushed back plans to produce 400,000 EVs in North America from 2023 to mid-2024.
pickup
While GM’s future may be EVs, its present is big, gas-guzzling pickup trucks and SUVs. The Detroit automaker plans to sell more than 1.1 million mid-size pickups and full-size trucks, including SUVs, in 2022. Those sales represented about 50% of their total annual sales.
Such vehicles are highly profitable and important to GM’s bottom line as it invests in capital-intensive electric and autonomous vehicles.
GM has been the top seller of pickups for nine years, tying crosstown rival Ford as the top seller in full-size pickups for three consecutive years. However, Ford’s F-Series has been America’s Best Selling Truck Best selling vehicle for 46 consecutive years and 41 years in a row.
The praise comes despite declines in full-size pickup sales for both automakers due to supply chain issues. GM plans to sell 754,876 Chevrolet Silverado and GMC Sierra pickups in 2022, down about 2%. Ford’s F-Series sales were down about 13% through November from a year ago, although Ford said Tuesday that last month’s sales were projected to be the best for the F-Series in 2022.