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GM’s 2023 U.S. automobile gross sales had been its greatest since 2019

DETROIT – General Motors’ U.S. automobile gross sales elevated 14.1% final yr to characterize the automaker’s greatest yr since 2019, previous to the impacts of the coronavirus pandemic and yearslong provide chain issues.

The Detroit automaker on Wednesday reported sales of roughly 2.6 million automobiles in 2023, together with 625,176 vehicles and vans bought throughout the fourth quarter, roughly flat in comparison with a yr earlier.

The automaker bought about 2.3 million automobiles in 2022 and a pair of.9 million models in 2019.

GM’s gross sales are in line with expectations for general trade gross sales. Edmunds expects industrywide gross sales to hit 15.5 million in 2023, which might be a roughly 14% enhance in comparison with 2022.

GM stated it expects whole U.S. trade gross sales to hit 16 million in 2024. That will mark the best trade gross sales since greater than 17 million models in 2019 and the excessive finish of trade analyst forecasts.

“GM has large momentum. We grew our market share in 2023, sustaining robust pricing and low incentives,” Marissa West, GM senior vp and president of North America, stated in a launch.

GM’s annual gross sales enhance was led by a 61% enhance in its Buick model, adopted by a 13.1% enhance for its mainstream Chevrolet unit. Gross sales on the GMC and Cadillac manufacturers had been up roughly 9% every in 2023.

Gross sales of all-electric automobiles for GM had been disappointing in 2023. GM’s EV gross sales totaled 75,883 models, or 2.9% of the corporate’s general gross sales final yr. A overwhelming majority of these had been gross sales of its now discontinued Chevrolet Bolt fashions.

The corporate has skilled issues in ramping up manufacturing of its newer “Ultium” EVs, together with a serious problem with battery module meeting.

To help EV gross sales this yr, the corporate expects to extend manufacturing of the automobiles and provide $7,500 in incentives on fashions that not qualify for as much as $7,500 in federal tax credit as a consequence of new, extra stringent requirements for meeting and supplies for the automobiles and their batteries that took impact Jan. 1.

“We’re dedicated to the way forward for EVs and could have the gross sales and advertising assist to promote these ineligible automobiles. Starting in January, GM will present the equal EV tax credit score buy quantity for any automobiles that grew to become ineligible because of the new pointers,” GM stated in a press release.

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