Americans buy more SUVs than cars and trucks combined. But 2022, with its soaring gas prices, soaring car prices, and soaring borrowing costs, has Americans rethinking their automotive needs.
General Motors, America’s largest automaker, sold almost twice as many cars in the first quarter of 2022 as it did in the first quarter of last year. Not vehicles. Cars. Old-fashioned sedans and coupes are back in style.
Sedans Have Had a Rough Year
The classic family sedan has seemed to be on life support in recent years. Ford has abandoned the sedan market completely in the U.S. Chrysler has announced the end of the line for its 300 sedan, and corporate sibling Dodge has announced the end of its Charger and Challenger. The Volkswagen Passat is on the way out, as is its Arteon sedan (though it may get an electric replacement), and the Nissan Maxima will retire after the 2023 model year.
In that climate, the Chevy Malibu seems an unlikely candidate for a massive sales surge — but that’s exactly what has happened. GM Authority reports that Malibu sales increased a jaw-dropping 563% year-over-year in the second quarter.
Not Just the Malibu
It wasn’t the only GM car to see a sales jump. Chevy sold 63% more Camaros and 8% more Corvettes than a year ago, despite significant supply chain challenges slowing Corvette production. Both of Cadillac’s sedans, the CT4 and CT5, also saw sales jump.
Only two cars saw their sales decrease. Bolt electric vehicle (EV) sales dropped 76%. GM paused Bolt sales last year after a series of recalls due to battery fires, and though the company says the problem has been fixed, car buyers have been slow to embrace the model. The tiny Chevy Spark also saw its sales decline dramatically after GM announced that it would discontinue the budget model. Americans bought just 47 sparks between April and June.
