General Motors Company: global vehicles sales in 2023

In 2023, General Motors sold nearly 6.2 million vehicles. This compares to around 5.9 million units in 2022, representing a growth of around 4.16 percent year-over-year. 

Turbulent past years still impact GM

GM’s brands include Chevrolet, GMC, Buick, and Cadillac, the first two of which were ranked within the top-eleven automobile manufacturers based on U.S. vehicle sales in the fourth quarter of 2023. Figures revealed a significant industry-wide stagnation two years earlier, in 2021, with industry sales increasing by under two percent compared to 2020. Sales had started to rebound in the fourth quarter of 2020, but the global chip shortage further impacted the sector in 2021, shrinking vehicle production and inventory. These automotive supply chain issues were exacerbated in 2022, amid Russia’s invasion of Ukraine. In 2023, General Motors had to contend with the United Auto Workers strike. This strike led to an estimated 4.35 billion U.S. dollars in losses for the Detroit Three manufacturers (General Motors, Stellantis, and Ford), and contributed to shaping GM’s year. 

GM accelerates future-proof innovations

With Tesla infamously driving innovation in the field of electric vehicles (EV), General Motors, along with other incumbent car manufacturers, are set to join the fiercely competitive U.S. electric vehicle industry. In 2023, Tesla sold around 498,000 battery-electric vehicle units in the U.S. market. General Motors, however, plans to invest around 20 billion U.S. dollars in its EV product portfolio, including SUVs and pickups, by 2025. As of 2023, General Motors Company is also exploring artificial intelligence technology. To that end, GM partnered with Google in August of that year.