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Toyota beats General Motors in auto sales in first quarter of US


Toyota, which overtook GM in the last quarter of 2021 as the number one seller in the US, managed to hold onto the crown in early 2022.

Via : Automatic table HT
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Update on:
April 3, 2022, 05:45 PM

FILE PHOTO: The Toyota logo is seen at a booth during a media day for the Auto Shanghai show in Shanghai, China.  (REUTERS)
FILE PHOTO: The Toyota logo is seen at a booth during a media day for the Auto Shanghai show in Shanghai, China. (REUTERS)

Toyota has once again led General Motors in the US sales rankings, after taking the top spot since late last year. The feat was achieved despite automakers grappling with supply chain issues in the first quarter as all the major manufacturers reported sharp declines in sales during the period.

Toyota, which overtook GM in the final quarter of 2021 as the No. 1 seller in the US, managed to hold on to the top spot in early 2022. The company has emerged on the back of inventories. more inventory, less equipment options and more reliance on hybrid models. Consumers are increasingly leaning towards hybrid and electric vehicles amid rising gas prices.

While Toyota saw sales in the first three months of the year drop 15% to 514,592 vehicles, gasoline-electric hybrid models fell only 3.9% as the automaker prioritized these vehicles. for scarce chips. Sales of hybrid versions of the brand’s best-selling model – the RAV4 small SUV – rose double digits in the quarter.

(Also read | Toyota Motor may stop making cars in the UK. This is why)

General Motors, on the other hand, posted a 20% drop in sales to 512,846 cars and trucks, losing to rival Toyota for the second straight quarter, albeit by just under 2,000. Sales of its most expensive pickup trucks and SUVs have increased as it aims to supply semiconductors for those high-margin vehicles.

However, semiconductor chip shortages and the coronavirus pandemic still weigh heavily on the industry, which is currently facing additional challenges related to the Russia-Ukraine war, volatile fuel prices and material costs battery and other components are increasing.

In March, U.S. automakers likely sold about 13.2 million new vehicles at a seasonally adjusted annual rate, down 26% from a year earlier, according to the median forecast. by eight market researchers. Many manufacturers have had to reduce production due to supply chain issues, meaning consumers have had to wait longer for their preferred model.

(with input from Bloomberg)

Date of first publication: April 3, 2022, 05:45 PM IST



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