Toyota Keeps a Crown Coveted by GM, Ford – TheStreet
What if the big winner of the difficulties that the automotive industry is currently going through was Toyota (TM) – Get Toyota Motor Corp. Report?
The Japanese vehicle manufacturer seems to be off the radar. This position seems to suit the company. It’s as if the manufacturer of Corolla and Camry sedans likes the spotlight to be shone on its main rivals and meanwhile the group focuses on its activities.
Since the beginning of the year, attention has been on Tesla (TSLA) – Get Tesla Inc Report, Ford (F) – Get Ford Motor Company Report, GM (GM) – Get General Motors Company Report, Volkswagen (VWAGY) – Get Volkswagen AG Report and also on new players such as Rivian (RIVN) – Get Rivian Automotive, Inc. Class A Report, Lucid (LCID) – Get Lucid Group, Inc. Report, Nikola (NKLA) – Get Nikola Corporation Report. Their announcements in electric vehicles punctuate the daily life of the automotive industry. We almost forgot that in 2021, Toyota ended the domination of the American automobile market by GM.
After 90 years of unchallenged domination, General Motors handed over its crown as the leading manufacturer of cars in the United States. The Detroit automaker has been the largest seller of vehicles in the country since 1931, when it surpassed Ford.
Toyota Motor sold 2.3 million vehicles in the United States in 2021, up 10.4% from 2020, compared with 2.2 million for GM, down 13%.
Critics of the Japanese automaker and supporters of the Detroit group had pointed out that it was only temporary.
Toyota Sells More Cars in The U.S. Than GM
However, three months later, Toyota has just repeated the feat.
The automaker sold 514,592 vehicles in the first quarter of 2022 on American soil. This number is however down 14.7% compared to the same period in 2021 but it is good enough to keep GM at bay. GM only sold 512,846 cars, down 20 percent, in the U.S. during the first three months of the year, according to a press release.
As often, the Japanese automaker did not take a victory lap.
“We thank our loyal customers for their continued trust in the Toyota and Lexus brands and their patience as we work around the clock to ensure their needs are satisfied,” said Jack Hollis, senior vice president, automotive operations. “As we work through the ever-changing market dynamics, our customers can depend on our diverse lineup of sedans, trucks, utilities and electrified vehicles for their lifestyle.”
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GM attributes its second place to the shortage of parts needed to assemble certain models and to disruptions in supply chains. But to be clear, Toyota is facing the same problems. However, the Japanese group seems to manage its stock better, which allows it to limit the negative impact.
“Supply chain disruptions are not fully behind us, but we expect …….