GM Group sold 6 million vehicles in 2022
- GM Group sold 6 million vehicles in 2022, including sales of its Chinese subsidiaries Baojun and Wuling, in which GM holds a 34% stake. The electric Wuling Hong Guang Mini EV sold 572,000 units in China in 2022, representing nearly one in ten cars sold by GM Group. This allowed the GM Group to slow down its crash, which started back in 2017 and continued until 2021. This crash was caused in particular by the sale of its European subsidiaries (Opel, Vauxhall) in 2017, but also by a decline in the North American market. We can add the end of sales in Russia and India, as well as a continued decline in China and Korea.
- Once the world's largest carmaker, GM has therefore gradually fallen to fifth place, behind Toyota, Volkswagen, Hyundai-Kia and Renault-Nissan. From 10 million vehicles sold in 2016, GM's sales volume fell to 6 million vehicles in 2022, a staggering decline. Regarding electric vehicles market. GM plans to produce 400,000 battery electric vehicles in North America by 2024, up from 45,000 in 2022.
- GM Group's global sales in 2022 break down as follows:
§ China is its largest market with 2.47 million vehicles, representing 41% of its global sales.
§ The U.S., its second market, with 2.26 million vehicles, representing 38% of its global sales.
§ South America is its third market with 350,000 vehicles or 6% of its global sales.
- These three markets account for 85% of GM Group's global sales in 2022.