We finished the year delivering on our promise, a bold one, to complete our first commercial driverless rides in Austin and Phoenix. In Austin, we went from zero footprint to revenue generating rides in just a few months, and this proves that our technology scales quickly to new regions with minimal modifications to our investment. And I think at this point, it’s fair to say that our focus on complex cities like San Francisco doing that first has paid off and we’ve opened the door to rapid scaling this year and beyond. Looking ahead, this is the year when we really hone in on our key enablers for growth and profitability with our amazing experience, low cost available everywhere. We’re going to expand our service in both existing and new markets, and we’ll have more to come on this soon and we’re working to ensure that our riders have an experience that is not only better than traditional ride hail, but the best transportation experience possible.
The Origin will go into volume production later this year with closed course testing underway right now, and I can say after riding in an autonomous Origin myself, I can say that it’s going to be hard to go back to conventional vehicle format for an AV. And as part of driving down costs and increasing availability, you’ll also see us to continue to improve our operational efficiency and scale. And as an example, the most recent 100,000 driverless miles that we did clocked in eight times faster than the first hundred thousand miles that we did, and we expect our rapid expansion to continue at similar rates this year and next. Our operational efficiency also extends to how we spend our cash. We continually look for creative ways to reduce expenses, including more recently increasing our use of automation, increasing our cloud compute efficiency, and reducing our R&D real estate footprint.
Our major investments in lower costs vehicles and hardware, such as the Cruise Origin, better routing and pricing algorithms and operational efficiencies are going to drop costs and improve our unit economics as we scale to more cities, drive up revenue and continue our march toward profitability. We’ll be thoughtful and focused with our spending, but we do intend to pursue the massive market opportunity in front of us by significantly increasing our commercial footprint and operating scale. It’s abundantly clear that we have a massive opportunity ahead of us and it’s fully within our reach. We will continue to go out after it with integrity and with urgency. Thanks, Mary, back to you.
Mary Barra: Well, thanks Kyle, and now let me turn the call over to Paul, who is going to go into a detailed discussion of our results and our outlook.
Paul Jacobson: Thank you, Mary, and good morning everyone. Thank you for joining us. I also want to start my remarks by thanking the entire GM team. They remain focused on execution and consistently meeting our commitments no matter the obstacles, and this is exactly what they achieved in 2022. We generated full year revenue of $156.7 billion, representing strong year-over-year growth of 23%. This improvement was driven by the team overcoming numerous logistics challenges and collaborating with the supply chain to increase parts availability. As a result, we grew wholesale volumes 25% within our objective of 25% to 30% for the year. We continue to face some supply chain and logistics issues, but overall things remain trending in the right direction.
