GM sales slump in 2022 on chip shortages, COVID disruptions

General Motors sold more than 2.3 million vehicles in China last year, down 21% from the previous year.

Despite the sharp decline, China remained GM’s largest market globally, followed by the United States, where shipments increased by 2.5% to 2.258 million units in 2022.

The company blamed the sluggish performance in China on lingering chip shortages and the draconian pandemic measures Beijing maintained until December.

In April and May, Shanghai, home to GM’s largest manufacturing base in China, went into lockdown to curb the severe coronavirus outbreak, which hit production hard.

SAIC-GM, a passenger vehicle joint venture between GM and SAIC Motor Corp., assembles and markets Cadillac, Chevrolet, and Buick passenger cars and light trucks.

2022 deliveries of Buick, GM’s main mass-market brand in China, fell by 21% to about 644,000 units.

Cadillac sales fell 15% to about 198,000 units, while Chevrolet sales increased 13% to about 200,000 units. This is due to the volume produced by his two redesigned crossovers, the Seeker and Tracker RS.

SAIC-GM-Wuling, a partnership between SAIC, GM and Liuzhou Wuling Motors, sees shipments drop 14% to about 1.2 million units in 2022.

The joint venture primarily produces minibuses, compact pickups and subcompact electric vehicles under the Wuling brand.

GM’s two joint ventures will roll out more than 20 new and refreshed models in 2023, more than a third of which will be appliances, GM China said.

He added that electrified vehicles to be introduced this year include models based on the Ultium platform from Buick, Cadillac and Chevrolet.

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