General Motors Co. in Detroit and its dealers delivered 603,208 vehicles in the U.S., up 18 percent, in the first quarter of 2023, growing market share by an estimated 1.5 points, the largest of any automaker.
GM delivered a strong start to the year with sales of more than 20,000 EVs as it scales production of vehicles on the Ultium Platform, and expanded truck leadership with launches of new HD and midsize pickup trucks.
A breakdown of figures released by GM today shows that the company sold 603,208 vehicles in the first quarter of the year. There were 412,285 vehicles in inventory for the quarter, which is approximately even with the fourth quarter of 2022.
Four of GM’s brands ranked in the top three for customer satisfaction, according to the J.D. Power Customer Service Index Study. J.D. Power’s Vehicle Dependability Study showed that 12 GM vehicles were in the top three rankings.
“GM is off to a great start in 2023,” says Steve Carlisle, executive vice president and president North America at GM. “We gained significant market share in the first quarter, pricing was strong, inventories are in very good shape, and we sold more than 20,000 EVs in a quarter for the first time.”
GM reports it is leading in the fleet and commercial markets, and all of its brands have momentum heading into a season of new product launches.
Overall, the Chevrolet brand saw its sales increase by 16 percent. The Equinox, Tahoe, Silverado HD, Bolt EV and Bolt EUV, and Corvette let their segments in S&P Mobility’s annual loyalty awards. For the third consecutive quarter, the Bolt EV and the Bolt EUV had record sales. The Trailblazer saw its sales increase 225 percent.
The Cadillac brand saw its sales increase by 29 percent, with the all-electric LYRIQ SUV selling more than 900 units. The XT4 had an 83 percent sales increase. The 2024 model launches this summer. Its new design is inspired by the LYRIQ. The XT5 saw sales up by 46 percent, and the XT6 saw sales increase by 26 percent.
The Buick brand sales were up 99 percent, and that showed it is the fastest-growing mainstream brand in the industry. Sales of the Enclave were up 25 percent, and sales of the Encore GX were up 128 percent. The Envision sales were up 242 percent, which set the record for the model first quarter retail sales.
The GMC brand saw a sales increase of 8 percent. The Denali AT4 trims are now half of GMC’s retail sales. The Sierra saw an increase of 19 percent, with light duty models up 26 percent, which was a record for the model’s first quarter retail sales.
Truck sales were strong for GMC in the first quarter, says Carlisle. Overall, the company sold 270,376 full-size, midsize pickups, and full-size SUVs. There was a 9 percent increase in Chevrolet Silverado and GMC Sierra models. The new GMC Canyon AT4X Edition 1 model sold out.
Carlisle says GM is currently No. 1 in total fleet registrations for model year 2023 vehicles, and it is also leads in commercial registrations for Class 6 and below model year 2023 vehicles. Commercial sales were 72,274 units, which is the fifth consecutive quarter of year-over-year growth.
GM is on rack to build 50,000 EVs in North America through June, says Carlisle. The company expects to double that figure in the second half of the year.
