GM Tops U.S. Auto Sales in 2023, Surpassing Toyota

Total new vehicle sales for 2023 hit nearly 15.5 million, the strongest showing since 2019 and a large improvement over 2022's 13.9 million.

GM-sales-best-in-US-2023-Toyota-Mazda-Subaru-Hyundai-Kia
GM sold 245,000 full-size SUVs in 2023, including the Cadillac Escalade, seen here.

General Motors reclaimed its position as the top-selling automaker in the U.S. in 2023, surpassing Toyota in the industry's overall best year since before the pandemic.

The Detroit-based automaker reported selling 2.6 million new vehicles in 2023, an increase of 14.1% from the previous year. In comparison, Toyota, its closest rival, saw a 6.6% rise in annual sales, amounting to about 2.25 million vehicles. According to Cox Automotive, the industry enjoyed its best year since 2019, with total U.S. vehicle sales reaching nearly 15.5 million, a notable improvement from the 13.9 million sold in 2022.

Despite challenges like a costly auto strike, GM's resilience is evident in its sales figures. 

“GM has tremendous momentum. We grew our market share in 2023, maintaining strong pricing and low incentives. We led the industry in trucks and had great success with our affordable SUVs like the Chevrolet Trax and Buick Envista, some of today’s hottest-selling vehicles," said Marissa West, senior vice president at GM and president of GM North America. "In 2024, we expect industry sales to remain strong and we’re excited about the opportunities ahead as we expand customer choice with new vehicles like the Chevrolet Equinox EV and Cadillac Escalade IQ.”

The sales resurgence was partly fueled by manufacturers ramping up production to meet sustained consumer demand for new vehicles. However, analysts caution the industry might face headwinds due to rising interest rates impacting demand in the coming year.

In an effort to clear older inventory, car dealers offered significant incentives and discounts in December, a shift from the previous trend of holding back on promotions. This strategy reflects a slight easing in demand after robust sales in the preceding years.

Electric vehicles (EVs) also saw a surge in popularity, capturing a larger portion of the market in 2023. Toyota reported a 30.4% increase in sales of its electrified vehicles, which comprised 29.2% of its total U.S. sales. GM sold 75,883 EVs, including models from its Bolt and Ultium platform ranges.

As the automotive sector navigates these evolving dynamics, GM remains optimistic about 2024, projecting industry sales of 16 million units. The company's shares initially dipped but recovered partially following the announcement of its full-year sales.

Other automakers reported strong sales to close out 2023 as well.

Subaru

Subaru of America, Inc. reported 57,764 vehicles sold in December 2023, a 1.8% increase compared with December 2022, when it sold 56,760. Subaru ended calendar year 2023 with 632,086 vehicle sales, a 13.6% increase compared with calendar year 2022.

For calendar year 2023, Outback was the top performer by volume with 161,814 vehicle sales (+10%). Crosstrek, a close second by volume, achieved its best year ever with 159,193 vehicle sales (+3%) and had its best December ever. Forester added 152,566 annual sales (+34%) in 2023. On the performance side, the automaker's WRX model achieved annual sales of 24,681 (+32%), and the BRZ sports car added 4,188 sales (+25%) in 2023. The Solterra EV completed its first full year on sale with 8,872 vehicle sales.

Kia

December sales of 60,275 units capped the best-ever fourth quarter for fast-growing Kia America and wrapped the greatest annual performance in company history. Kia's 2023 total of 782,451 units was up 13% year-over-year and 12% over the previous record set in 2021. In addition, the brand set an all-time record with 725,817 units sold through Kia dealers nationwide.

Six Kia models set all-time annual sales records in 2023, including Carnival (+93%); Niro (+26%); Seltos (+17%); Sportage (+12%); Telluride (+11%); and Forte (+7%). Sales of Kia's electrified models increased 41% and SUV sales increased 16% over the segments' previous records. Overall, Kia's rugged and capable SUVs accounted for 72% of 2023's annual sales total.

Hyundai

Hyundai Motor America reported total December sales of 75,164 units, a 4% increase compared with December 2022 and the highest December sales total in company history. Hyundai set total sales records in December for IONIQ 5 (+90%), Santa Fe PHEV (+3205%), Santa Fe HEV (+74%), Tucson (+8%), Tucson PHEV (+8455%) and Palisade (+95%). All-time total sales monthly records were set for Tucson PHEV, Santa Fe PHEV and Palisade.

In Q4, Hyundai sold 206,048 vehicles, a Q4 total sales record, and an increase of 5% compared with Q4 2022. Eco-friendly vehicle retail sales for Q4 grew 37% compared with Q4 2022.

For the year, Hyundai sold 801,195 vehicles, an 11% increase compared with 2022 and the highest total sales ever for the Hyundai brand. Amongst several model records, Tucson established a new yearly sales record, selling more than 200,000 vehicles for the first time ever. 2023 was also a record year for retail sales, increasing 1% compared with 2022 and the third consecutive year setting a new retail sales record. During the year, Hyundai fleet sales were 10.9% of total volume.

Mazda

Mazda North American Operations reported total December sales of 39,518 vehicles, an increase of 44.8% compared to December 2022. Full-year sales totaled 363,354 vehicles, an increase of 23.2% compared to 2022. With 26 selling days in December, compared to 27 the year prior, the company posted an increase of 50.4% on a Daily Selling Rate (DSR) basis.

Honda

American Honda reported 2023 sales of 1.3 million vehicles, a 33% increase from 2022, and December sales of 123,388, a 31.5% increase over the same month a year ago.

Electrified models set an all-time sales record, with CR-V and Accord hybrids combining for 293,640 units---more than a quarter of the Honda brand's total sales.

Website Rt Graphic Ep.51 Nancy Rolland 600x400 1.9.24

Shop & Product Showcase

  • Read testimonials from real collision repair shops about the tools and technologies they use to get the job done.