GM held first place in sales in the US in the first quarter of 2023

General Motors (GM) took even more advantage of Toyota in the first quarter in the United States, with sales of 603,208 vehicles, a growth figure of 17.6% compared to the same quarter last year, according to data published this Monday.

In the same period, Toyota sold some 469,558 cars in the country, a decrease of 8.8% over the first quarter of 2022.

GM’s results are higher than expected by the firm specialized in the sector, Cox Automotive, which predicted sales of 587,020 vehicles, while Toyota fell short of the forecast that pointed to 477,755 units.

General Motors dethroned its Japanese rival in the United States in 2022, thanks to improvements in the production chain, which was disrupted in 2020 and 2021 by the coronavirus pandemic.

GM had a good start in 2023,” said the firm’s president for North America, Steve Carlisle, quoted in a statement. “We gained significant market shares,” he added.

Among the models that gained ground this year are midsize SUVs such as the Chevrolet Trailblazer, one of GM’s brands, or the Envision and Encore GX, from Buick, also a GM subsidiary.

Preference for electric

But GM owes the best result to Bolt, its electric model, whose sales multiplied by 55 in one year.

Thus, GM points out that it sold more than 20,000 electric vehicles in a quarter, for the first time.

Although it represents significant growth for GM in this market niche, the figure should be relativized and is modest compared to other major players, first and foremost Toyota.

The Japanese brand recorded a quarter of its sales in the United States in the first three months of the year in the field of electric vehicles, a total of 118,836 units.

Toyota proposes 22 different models of electric vehiclesthe broadest offering of any manufacturer, according to Jack Hollis, executive vice president of Toyota North America.

Tesla, which publishes global results, fell on the stock market this Monday punished by the markets after disclosing production figures and in particular sales that, although increasing, disappointed the operators.

The global deliveries of electric cars from the firm of Elon Musk they reached 422,875 units in the first quarter of the year, according to data released on Sunday, 36% above the same period last year.

The results correspond to a period in which Tesla resolved price cuts of up to 20% in Europe and the United States, similar to those applied in China last year.

Analysts expected delivery of about 432,000 vehicles.

Tesla shares were down below $200 at 18:20 GMT, nearly 7 percent.

Tesla produced 440,808 vehicles in the first quarter of the year, 44% more than a year earlier.

The automotive sector has been boosted by the strength of the US labor market, despite increases in interest rates that have an impact on loans for the purchase of vehicles.