$GM: GM Sales Beat Rival Toyota

GM outsold rivals including Japanese automaker Toyota in the U.S. in the third quarter. GM sold 555,580 vehicles in the quarter through September, 24% higher than last year when inventory shortages hit sales. By contrast, rival Toyota’s sales fell 7.1% to 526,017 vehicles in the same period. In a statement, GM announced it was helped by its ability to secure more semiconductor chips and boost production.

GM’s Chevrolet brand boosted sales 30%, and Cadillac saw a 50% increase. GM also said it plans to boost global production of its electric Chevy Bolt and Bolt EUV by nearly 30,000 vehicles to more than 70,000 units, boosted by strong demand.

Despite elevated gas prices, GM also saw sales of its large Chevy Suburban rise by more than 40% and sales of its heavy-duty Silverado pickup were up almost 60%.

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