GM Becomes Top-Selling US Carmaker In 2023

(RTTNews) - General Motors Company (GM) has announced a surge in its 2023 U.S. sales, making it the top-selling carmaker in the U.S., largely reflecting lower supply chain hindrances and sustained customer demand.

The Detroit carmaker said that its 2023 U.S. vehicle sales increased to roughly 2.6 million units, 14.1% up from last year's 2.3 million units. While its rival Toyota's annual sales rose 6.6%, to around 2.2 million units in 2023.

GM's Buick brand sales increased by 61%, while its mainstream Chevrolet sales experienced an increase of 13.1% in 2023. GMC and Cadillac brands sales were up 9% each during the same period.

The report on U.S. electric vehicle (EV) sales also showed improvement, with total EV sales expected to represent 8% of total auto sales in 2023. Tesla, the leading EV maker in the U.S., recorded a 38% increase in deliveries in 2023.

Sales demand eased in the last three months of 2023, mainly due to increased interest rates, which pushed the prices of vehicles higher. However, the carmakers offered attractive discounts and generous incentives to attract customers and clear older inventory.