Thursday, October 21, 2021

Toyota overtakes GM in the US for the first nine months of 2021

Washington-Japanese automaker Toyota Motor Corp. outsold General Motors Co. in the United States for the first nine months of 2021 as the Detroit automaker grapples with production problems stemming from semiconductor chip shortages.

Data released Friday showed Toyota sold 1.86 million vehicles during the first nine months, compared to GM’s 1.78 million, or just over 80,000 vehicles.

According to data from the industry publication Automotive News, GM has been the largest seller of vehicles in the United States since 1931, when it overtook Ford Motor Company.

GM has been hit hard by the chip crisis, but it said most of its North American plants would be running on regular production starting next week.

According to Automotive News, GM said its third-quarter US sales fell nearly 33 percent to 446,997 vehicles, its worst sales quarter in more than a decade. GM’s sales are up 0.1 percent for the first nine months. Its shares, which have gained more than a quarter this year, closed with a gain of 0.8 percent on Friday.

The new GM logo is seen in front of General Motors’ headquarters on March 16, 2021 in Detroit, Michigan. (Rebecca Cook/Reuters)

Toyota, the world’s largest automaker by volume, said its US sales jumped 1.4 percent to 566,005 vehicles in the quarter and a 27.9 percent increase in the first nine months.

Read Also:  Toyota has taken advantage of Ford's departure, sales of this SUV have increased by 79%, features are stronger

GM spokesman Jim Cain said Friday, “We definitely wish we had a few more semiconductors and I bet Toyota wishes they had a few more pickups and SUVs. Sales numbers impacted by the chip crisis.” One should not make long-term decisions about the market on the basis of

A Toyota spokesperson said US sales figures in 2021 were an anomaly due to the issue of chips and the automaker insisted it is not focused on being No. 1 in terms of sales.

Cars use chips in their infotainment systems, while the pandemic has sparked higher demand for chips as more people work from home and rely on smartphones and other electronics.

For 2020, GM sold 2.55 million vehicles in the United States compared to Toyota’s 2.11 million, ahead of Ford’s 2.04 million.

For the quarter, Nissan’s US sales fell 10 percent, while Chrysler parent Stelantis’ US sales declined 19 percent.

By David Shepardson, Abhijeet and Ganpavaram

Reuters

Follow

.

This News Originally From – The Epoch Times

Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -