China was the largest single target market for General Motors in 2022. During that fiscal year, the Detroit company and its associations sold some 2.3 million motor vehicles to customers in China, the world’s largest automobile market. Overall, GM’s dealers, distributors, and joint ventures reported vehicle sales of some 5.9 million units, almost 4.6 million of which occurred in China and the United States.
Ownership cap
China began to deregulate its automotive sector in the mid-1990s but prohibited foreign firms from owning more than 50 percent of stakes in joint ventures. General Motors joined forces with Shanghai-based SAIC on June 12, 1997. The SAIC Motor Corporation, which is also involved in a partnership with Volkswagen, was the leading automobile manufacturer in China in 2021 with car sales of nearly 2.8 million units. Currently, the SAIC-GM joint venture sells vehicles under the Buick, Chevrolet, and Cadillac brands. General Motors also sells commercial vehicles in collaboration with the Changchun-headquartered automotive manufacturing company FAW Group Corporation.
FAQs
China was the largest single target market for General Motors in 2022. During that fiscal year, the Detroit company and its associations sold some 2.3 million motor vehicles to customers in China, the world's largest automobile market.
What country buys the most GM cars? ›
China was the largest single target market for General Motors in 2022. During that fiscal year, the Detroit company and its associations sold some 2.3 million motor vehicles to customers in China, the world's largest automobile market.
How many cars did GM sell in 2022 worldwide? ›
General Motors sold some 5.9 million vehicles worldwide in 2022. Roughly 2.8 million vehicles were sold in North America. GM's market share in North America stood at 15.5 percent in 2022, making it a successful year despite lower sales volume.
What percentage of General Motors vehicle sales are outside of the United States? ›
We continue to see a higher percentage of our business coming from outside the developed markets - and the non-U.S. share of GM's global sales of 64 percent clearly reflects that trend."
Which company sold the most cars in 2022 in the world? ›
Toyota managed to hold on to its global sales crown in 2022 with nearly 10.45 million vehicles sold around the world. This includes luxury brand Lexus , as well as Toyota subsidiaries Daihatsu and Hino. The Japanese juggernaut easily trumped runner-up Volkswagen AG , whose 8.3 million units sold in …
What percentage of General Motors sales are in China? ›
SAIC-GM market share climbed back to nearly 9.8 percent, placing SAIC-GM among the top three passenger car manufacturers in mainland China. In June 2004, the Cadillac brand was introduced to China then in January 2005, the Chevrolet brand was launched.
Who sells more cars in China GM or Ford? ›
Ford sold approximately 624,000 vehicles in China and Taiwan last year, up from 602,627 sales in 2020. GM, meanwhile, sold about 2.9 million vehicles in China, the same as it did in 2020.
Who is bigger GM or Ford? ›
Key Takeaways. Ford and General Motors are the two biggest automakers in the United States and are also big players on the world stage. General Motors leads in US market share.
Has Toyota sold more than GM? ›
GM passed Toyota in 2022 U.S. auto sales, recording 2.2 million units sold. Toyota had beaten GM in 2021, dethroning the American automaker from the top spot for the first time since 1931. Chevy's Silverado pickup was the best-selling GM model, while the RAV4 was the top Toyota.
Is Toyota bigger than GM? ›
As GM Authority reported early last year, Toyota dethroned GM as the top automaker in the U.S. following the release of its Q4 2021 sales numbers, with GM recording 2.2 million vehicles sold during the 2021 calendar year, a 13-percent year-over-year decrease compared to 2020.
General Motors Co. and its joint ventures in China saw a 9% increase in sales during the second quarter, the automaker said Thursday.
How much of GM's business is in China? ›
The world's largest automotive market — China — is becoming increasingly challenging for U.S. brands, especially General Motors. The company's market share in the country, including its joint ventures, has plummeted from roughly 15% in 2015 to 9.8% last year.
What is GM's largest market? ›
China and the U.S. are GM's largest markets
Most of GM's revenue in 2022 came from its North American operations, which represented around 81.9 percent of GM's overall earnings that year. In the United States, GM reported market shares of over 17 percent, trailed only by the Toyota Motor Corporation.
Who sells the most cars globally? ›
Toyota is the most sold car brand in the world.In 2022, Toyota sole 10.5 million vehicles. Toyota is also the second largest company in terms of revenue, with $267.02 billion made in 2022.
Which is the largest vehicle market in the world 2022? ›
China is the largest automobile market worldwide, both in terms of demand and supply. China's automobile registrations climbed to approximately 23.24 million units in 2022, representing a rise of around 10 percent.
What is the best-selling car in the USA? ›
Here are the 10 best-selling vehicles in the U.S. by unit sales for 2022, according to Motor Intelligence.
- Toyota Camry: 295,201 – down 5.9% ...
- Tesla Model Y: 252,000 – up 32.4% ...
- GMC Sierra: 241,522 – down 3% ...
- Honda CR-V: 238,155 – down 34.1% ...
- Toyota Tacoma: 237,323 – down 6% ...
- Jeep Grand Cherokee: 223,345 – down 15.5%
Among the countries growing GM crops, the USA (70.9 Mha), Brazil (44.2 Mha), Argentina (24.5 Mha) India (11.6 Mha) and Canada (11 Mha) are the largest users. Within Europe, five EU countries grow GM maize – Spain, Portugal, Czech Republic, Romania and Slovakia. Spain is the leading country (0.1 Mha).
Is GM popular in China? ›
General Motors is losing ground in China, its top sales market for more than a decade and one of two main profit engines for the Detroit automaker.
Why doesn t GM sell in Europe? ›
GM struggled with high production costs it was never able to control, and was making cars customers didn't really want to buy. To be fair to GM, they were not the only company that struggled in Europe. Its American rival Ford has also dialed back its European presence, focusing on markets where it is most profitable.
