General Motors on Wednesday announced that in 2022 it delivered 2.2 million vehicles in the United States, making it the biggest automaker in the country.
Toyota took the crown from GM back in 2021, but held onto it for less than two years. The Japanese automaker sold 2.1 million vehicles in 2022, which is down 9.6 percent from 2021.
Shares of Toyota were down more than 1 percent following the release on Wednesday.
GM, by comparison, saw its sales increase 2.5 percent from 2021. A big chunk of those gains came in the fourth quarter, as supply chain issues eased and sales shot up 40 percent year-over-year. Cadillac sales were up 75 percent, and GM Fleet sales jumped 101 percent.
The legacy automaker isn't resting on its laurels in 2023. GM said it plans to grow its share of the electric vehicle market with a number of battery-powered models.
"GM plans to build on this momentum in North America in 2023, growing EV market share with nine EV models on sale, including the Chevrolet Bolt EV and Bolt EUV, which was the bestselling mainstream EV series in the third and fourth quarter," the company said in a statement.
The company said it expects production of the Bolt EV and Bolt EUC to increase to more than 70,000 units this year. Sales of those models were up 64,332 percent in 2022, as GM ramped up production of its electric line.
Nvidia on Wednesday became the first public company to reach a market capitalization of $5 trillion. The ravenous appetite for the Silicon Valley company’s chips is the main reason that the company’s stock price has increased so rapidly since early 2023.
Chris Williamson, Chief Business Economist at S&P Global, breaks down September’s CPI print and inflation trends, explaining what it means for markets.
A big-screen adaptation of the anime “Chainsaw Man” has topped the North American box office, beating a Springsteen biopic and “Black Phone 2.” The movie earned $17.25 million in the U.S. and Canada this weekend. “Black Phone 2” fell to second place with $13 million. Two new releases, the rom-com “Regretting You” and “Springsteen — Deliver Me From Nowhere,” earned $12.85 million and $9.1 million, respectively. “Chainsaw Man – The Movie: Reze Arc” is based on the manga series about a demon hunter. It's another win for Sony-owned Crunchyroll, which also released a “Demon Slayer” film last month that debuted to a record $70 million.
The Federal Aviation Administration says flights departing for Los Angeles International Airport were halted briefly due to a staffing shortage at a Southern California air traffic facility. The FAA issued a temporary ground stop at one of the world’s busiest airports on Sunday morning soon after U.S. Transportation Secretary Sean Duffy predicted that travelers would see more flights delayed as the nation’s air traffic controllers work without pay during the federal government shutdown. The hold on planes taking off for LAX lasted an hour and 45 minutes and didn't appear to cause continued problems. The FAA said staffing shortages also delayed planes headed to Washington, Chicago and Newark, New Jersey on Sunday.
Boeing workers at three Midwest plants where military aircraft and weapons are developed have voted to reject the company’s latest contract offer and to continue a strike that started almost three months ago. The strike by about 3,200 machinists at the plants in the Missouri cities of St. Louis and St. Charles, and in Mascoutah, Illinois, is smaller in scale than a walkout last year by 33,000 Boeing workers who assemble commercial jetliners. The president of the International Association of Machinists says Sunday's outcome shows Boeing hasn't adequately addressed wages and retirement benefits. Boeing says Sunday's vote was close with 51% of union members opposing the revised offer.
The stunning indictment that led to the arrest of more than 30 people — including Miami Heat guard Terry Rozier and other NBA figures — has drawn new scrutiny of the booming business of sports betting in the U.S. The multibillion-dollar industry has made it easy for sports fans — and even some players — to wager on everything from the outcome of games to that of a single play with just a few taps of a cellphone. But regulating the rapidly-growing industry has proven to be a challenge. Professional sports leagues’ own role in promoting gambling has also raised eyebrows.
