General Motors Reports Strong US Vehicle Sales for 2023

The American automaker General Motors saw a significant increase in its U.S. vehicle sales, marking its best performance since 2019. Despite previous challenges such as the impact of the Covid-19 pandemic and supply chain issues, the company's sales grew by 14.1% in 2023, reaching approximately 2.6 million vehicles. This positive outcome aligns with the overall industry expectations, with projections indicating a potential 14% increase in industrywide sales for the year. GM's annual sales boost was mainly driven by a 61% surge in its Buick brand, followed by a 13.1% increase in sales for its Chevrolet unit. The GMC and Cadillac brands also experienced upticks in sales, with approximately 9% growth each. However, the company faced setbacks in the sales of its all-electric vehicles, with disappointing figures for EV sales in 2023, primarily attributed to production challenges and issues with battery module assembly for its newer "Ultium" EVs. To address this, GM plans to enhance EV sales in the coming year by increasing vehicle production and offering incentives to potential buyers. Despite changes in federal tax credit eligibility for certain models, GM is committed to supporting the future of EVs by providing equivalent EV tax credit purchase amounts for ineligible vehicles due to new guidelines implemented at the beginning of the year.