GM Vehicle Sales And Market Share By Region And Country

General Motors. Pixabay Image

This article presents the vehicle sales and market share data of General Motors Company (NYSE:GM).

The vehicle sales data presented here is based on the retail sales, fleet sales as well as vehicles used by dealers in their businesses data provided by General Motors.

Readers who are interested in GM’s wholesale data may visit this article – General Motors Wholesale Vehicle Sales.

The difference between retail and wholesale is that wholesale vehicle sales are sales to retailers while retail vehicle sales are sales to consumers.

Wholesale vehicle sales are recognized as revenue in GM’s income statements while retail sales are not.

That said, let’s start with the topics below.

Worldwide Vehicle Sales

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General Motors reported worldwide or global vehicle sales of nearly 6 million units in fiscal 2022, down 6% over 2021 and 13% over 2020.

Since fiscal 2017, GM’s global vehicle sales have declined by nearly 40%.

The 2022 vehicle sales figure was a record low over the past 9 years.

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Worldwide Vehicle Sales Growth Rates

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The growth rate plot above shows that GM hardly has any growth in terms of global vehicle sales.

In most fiscal years, GM’s worldwide vehicle sales were in decline.

Some numbers are even in or near double-digit decline.

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Worldwide Market Share

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Similar to the vehicle sales numbers, GM’s worldwide market share also has been on the decline.

GM reported a global market share figure of 7.6%, 7.6%, and 8.7% for the whole year in fiscal 2022, 2021, and 2020, respectively.

Although global market share has stabilized in recent years, the figure has been nearly cut in half since fiscal 2014.

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North America, APMEA, And SA Vehicle Sales

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On a regional basis, GM reported the most sales in the Asia Pacific, Middle East, and Africa combined, totaling 2.8 million vehicles in fiscal 2022.

GM’s vehicle sales in North America topped 2.68 million units as of fiscal 2022, up slightly over 2021.

GM’s sales in South America also went higher in fiscal 2022 to 452 million units, up by a massive 15% year-over-year.

On a long-term basis, GM’s vehicle sales in all regions are still in decline although recent results show some recoveries.

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Europe Vehicle Sales

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GM’s last reported vehicle sales in Europe were in fiscal 2017 at about 685 million units before the firm sold all of its subsidiaries and exited the European market.

As of 2022, GM had only about 2 thousand vehicle sales in Europe annually, probably imported through third parties and agents.

Prior to 2017, GM used to sell more than 1 million cars in Europe, making this region one of the company’s largest markets for its vehicles.

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North America, APMEA, And SA Vehicle Sales In Percentage

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From the perspective of percentages, GM’s sales in North America contributed roughly 45% of the company’s overall vehicle volume in fiscal 2022, the largest number for a single region.

On the other hand, GM’s combined sales in the Asia Pacific, Middle East, and Africa topped 47% of the company’s total vehicle volume in fiscal 2022, down significantly over 2021.

GM’s South America region made up only 8% of the company’s overall vehicle volume in fiscal 2022, the smallest among all regions in the world.

A trend worth noting is the growing percentage of the North American region between 2014 and 2022 while those of other regions have remained roughly the same.

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North America, APMEA, And SA Vehicle Sales Growth Rates

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GM hardly had any growth in terms of vehicle sales in most regions of the world.

As seen in the plot above, most regions reported negative vehicle sales growth rates, with some numbers even logging double-digit declines.

However, GM did much better in fiscal 2022, with sales growing by nearly 15% in South America while North America grew by 4.1% in the same period.

GM performed the worst in the Asia Pacific, Middle East, and Africa regions, with the combined sales tumbling by nearly 16% year-over-year in 2022 and with most numbers registering negative double-digit growth rates.

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North America, APMEA, And SA Market Share

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GM reported a market share of 15.5% in North America for the whole year in fiscal 2022, the highest figure among all of the company’s markets.

For the Asia Pacific, Middle East, and Africa regions, GM had a combined market share of only 6.4% in fiscal 2022, down slightly over 2021.

General Motors’s market share in South America came in at 12.3% in fiscal 2022.

While market share has recovered in some regions recently, the majority are still in decline on a long-term basis.

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Europe Market Share

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GM’s last reported market share in Europe was in fiscal 2017, totaling 3.6% for the whole year.

Prior to 2017, GM had more than 6% of the market share in the European region.

GM has 0% market share in Europe ever since the company exited the European market.

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U.S., China And Brazil Vehicle Sales

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Although General Motors’ sales in China were much higher in earlier years, it was nearly at the same level as the U.S. in 2022.

As seen, in fiscal 2022, GM reported sales of 2.3 million vehicles in China, which was only marginally higher than that of the U.S.

Therefore, GM’s vehicle sales in China have considerably declined over the years.

On the other hand, GM reported vehicle sales of 2.3 million units in the U.S. as of fiscal 2022, up slightly over 2021.

For Brazil, GM’s sales in this country totaled only 291 thousand vehicles as of fiscal 2022, the smallest among the 3 countries in comparison.

While vehicle sales in most countries had recovered in recent years, they were still in serious decline over the long term.

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U.S., China And Brazil Vehicle Sales In Percentage

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GM’s sales in the U.S., China, and Brazil alone contributed more than 80% of the company’s total volume in fiscal 2022.

This figure also has been on the rise since fiscal 2014.

An interesting fact is that the percentage figures for China and Brazil have remained roughly the same over the past 9 years.

On the other hand, GM’s U.S. sales by percentage had sharply increased from 30% to 38% between fiscal 2014 and 2022.

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U.S., China And Brazil Market Share

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GM’s market share in the U.S. topped 16% as of fiscal 2022, the highest among the 3 countries in comparison.

For China and Brazil, GM’s market share in these countries came in at 9.8% and 13.8%, respectively, as of fiscal 2022.

Although market share in the U.S. and Brazil recovered in recent years, they were still in decline over the long term.

On the other hand, GM’s market share in China seems to have suffered from a persistent shrink with no recovery in sight.

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U.K. And Germany Vehicle Sales

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GM’s retail volume in the U.K. totaled roughly 300 thousand vehicles in the past and the figure was slightly lower at 260 thousand units in Germany.

These are the last known GM vehicle sales numbers in the U.K. and Germany before the company exited the market in these countries.

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U.K. And Germany Market Share

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General Motors’ market share in the United Kingdom totaled roughly 9% in fiscal 2016 and as much as 10% in fiscal 2015.

GM had about 7% market share in Germany in fiscal 2016 and 2017, respectively.

Again, these are the last known market share data before the exit of GM in the European market in 2017.

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U.S. Vehicle Sales By Quarter

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The quarterly plot shows that GM’s vehicle sales in the U.S. have sharply recovered since fiscal 2022.

As of 2Q 2023, GM reported sales of 692 thousand vehicles in the U.S., up 19% from a year ago.

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U.S. Vehicle Sales By TTM

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Similarly, the TTM plot above shows a significant recovery in GM’s U.S. retail volume since fiscal 2022.

As of 2Q 2023, General Motors’ TTM vehicle sales in the U.S. totaled 2.5 million units, up by a massive 25% from a year ago.

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U.S. Vehicle Sales Growth Rates

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The YoY growth rate plot above clearly depicts a sharp recovery in GM’s U.S. vehicle sales in post-pandemic periods.

In fiscal 2Q 2023, GM’s year-over-year vehicle sales rose 25% compared to -28% reported a year ago.

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China Vehicle Sales By Quarter

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GM’s retail volumes in China in fiscal 2023 are still unfavorable.

In 2Q 2023, GM reported sales of only 526 thousand vehicles.

Although vehicle sales were up by 9% year-on-year in the latest quarter, they were still in decline compared to pre-pandemic results and on a long-term basis.

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China Vehicle Sales By TTM

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The TTM plot above clearly depicts the persistent decline of GM’s vehicle sales in China in post-pandemic periods.

While quarterly sales were up by 9% year-on-year, the TTM result shows that the 2Q 2023 number was down by 11% year-on-year.

As shown in the plot above, GM’s TTM sales totaled 2.2 million vehicles as of 2Q 2023 compared to 2.5 million vehicles recorded a year ago.

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China Vehicle Sales Growth Rates

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The YoY growth rate plot above shows that GM’s China vehicle sales are in decline in post-pandemic periods.

An interesting fact is that the growth rates of GM’s retail vehicle volumes actually rose during the pandemic, as in fiscal 2020 and 2021.

As of fiscal 2Q 2023, GM’s vehicle sales year-on-year growth rate came in at -10.7% compared to -24.5% recorded a year ago.

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South America Vehicle Sales By Quarter

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South America represents GM’s 3rd largest market after the U.S. and China and contributes to 8% of the company’s total vehicle volume in fiscal 2022.

Brazil is GM’s largest market within the South American region, accounting for roughly 5% of the company’s overall sales volume which we saw in prior paragraphs.

According to the chart, GM’s South American retail volume has started to recover in the post-pandemic periods and recorded sales of 108 thousand vehicles in fiscal 2Q 2023, roughly in line with the quarter a year ago.

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South America Vehicle Sales By TTM

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From a TTM perspective, GM’s South America retail sales have started to move higher in post-pandemic periods but are still below the pre-pandemic results.

The post-pandemic recovery in the South American region looks weak.

As of Q2 2023, GM’s retailers in South America sold about half a million, or 468 thousand vehicles to be exact on a TTM basis compared to 385 thousand vehicles recorded a year ago.

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South America Vehicle Sales Growth Rates

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The growth rate plot above shows that GM’s South America vehicle sales have sharply recovered in post-pandemic periods.

As shown, GM’s vehicle sales year-on-year growth rate in South America totaled 21.6% in fiscal 2Q 2023 compared to -21.1% recorded a year ago.

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U.S. EV Sales By Quarter

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GM’s EV deliveries primarily consist of the Bolt EV and Bolt EUV models.

In fact, in 1Q and 2Q 2023, Chevrolet’s Bolt EV and EUV models alone contributed 95% and 89%, respectively, of GM’s total EV deliveries.

On a consolidated basis, GM’s retailers sold 20,700 and 15,700 electric vehicles in 1Q and 2Q 2023, respectively.

Compared to the same quarters a year ago, these figures represent significant growth.

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U.S. EV Sales In Percentage

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In terms of percentage, GM’s EV sales in 1Q and 2Q 2023 represent only 3.4% and 2.3%, respectively, of the company’s total retail volumes.

Although the percentage figures are small, they are remarkably higher than the numbers recorded a year ago.

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U.S. EV Market Share

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In terms of the market share, GM’s EV market share in the U.S. totaled only 5.4% and 8.4% in 2Q and 1Q 2023, respectively.

These figures also are significantly higher than the results recorded a year ago.

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Conclusion

To recap, GM’s retail volumes recovered in fiscal 2022 and may further improve in fiscal 2023 based on the results recorded in the first half of 2023.

Particularly, GM’s vehicle sales in the U.S. and South America saw the biggest improvement.

Credits and References

1. All sales and market share figures presented in this article were obtained and referenced from General Motors’ earning releases, shareholders letter, presentation, SEC filings, annual reports, etc., which are available in GM Sec Filings.

2. Featured images in this article are used under Creative Commons license and sourced from the following websites: GM Europe.

Disclosure

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