U.S.: General Motors’ vehicle sales market share 2023

At about 16.9 percent, General Motors (GM) held a significant portion of the U.S. market in 2023. However, over the course of the last two decades, GM has lost a considerable amount of market share, which stood at about 28 percent some 19 years ago.

The company

 
General Motors is a multinational company headquartered in Detroit and is ranked among the leading automobile manufacturers worldwide based on revenue. GM has had some variability in the number of cars sold worldwide with a decline in recent years, especially after selling the Opel and Vauxhall brands to PSA. However, GM’s financial statements indicate that there has been a recent increase in income globally, with 2023 having the highest sales revenue. The company’s revenue had started to drop significantly in 2019, but by 2023, the company had recovered from the financial impact of the COVID-19 pandemic and supply chain shortages. GM includes many brands such as Chevrolet, Buick, GMC, Cadillac, and several other companies.

The global automotive industry

 
The global automotive industry is facing new challenges with the advent of smart technology. The recent decade has seen the greatest production volume of cars and commercial vehicles around the world, but the COVID-19 pandemic and global automotive chip shortage have led to production halts and to a steep decrease in the global automotive output.