Saturday, January 28, 2023

General Motors is the new leader in automobile sales in America. Nation World News

General Motors Corporation took on the Japanese Toyota Motor Corp. To become the largest car maker in America by 2022. The company and its dealerships sold 2.2 million units during the year, a growth of 3% compared to 2021, thus compensating for the general decline in price in the market.

Auto sales across the industry are projected to fall 8% year-over-year to 13.7 million cars in 2022, according to a report provided by The Wall Street Journal. This situation happened mainly because these companies had to deal with supply chain challenges and declining consumer demand.

for his part, Toyota, which ranked second, sold 2.11 million units, Represents a 9.6% decline in volume and a 9.9% decrease in daily sales rate. However, the Japanese automaker improved its performance in the fourth quarter, when unit sales and prices each increased by 13.1%.

US unit of Hyundai Motor Company It is claimed to have sold 724,265 units by 2022, representing a reduction of 2%. However, quarterly sales rose 29% to a record 195,967 units. US sales Honda Motor Company They drop 32.9% to 983,507 units in 2022. December sales fell 10.7% to 93,843 units.

while the sale of Nissan Motor Company Limited They fell 25.4% and 2% to 729,350 units and 191,012 units in 2022 and the fourth quarter, respectively.

Supply shortfalls hurt vehicle sales in 2022, and a sales improvement in the last five months of the year could not offset the weakness seen in the first half, JD Power said in a statement in late December. However, the firm said that per-unit prices and profitability will reach record levels in 2022, despite limited production and limited sales volumes.

Even with a possible economic downturn, the growth in consumer demand of the past two years will keep inventory levels low and lead to another year of “relatively healthy pricing and profitability.”

Nation World News Desk
Nation World News Desk
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