General Motors Co on Wednesday posted a 2.5% rise in U.S. new vehicle sales in 2022, outselling Toyota Motor Corp , helped by an easing of inventory shortages and strong demand for its cars and trucks.
GM, which lost the spot as the top U.S. automaker at the end of 2021 for the first time since 1931, said its annual sales rose to 2,274,088 vehicles last year, beating Toyota's annual sales of 2,108,458 units in a closely watched race.
Toyota has been among those hit acutely, forcing the automaker to cut its full-year production target in November. Sales of its SUVs, a key segment, fell 8.6% in 2022, data on Wednesday showed.Industry-wide last year's U.S. auto sales are forecast to be about 13.9 million units, down 8% from 2021 and 20% from the peak in 2016, according to industry consultant Cox Automotive.
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