GM reported a 13% year-over-year drop in overall revenue due to problems with the semiconductor supply chain. Toyota, on the other hand, reported sales of 2.3 million automobiles in the United States last year, an increase of 10.4%.
Because of a severe chip shortage and supply chain restrictions, Detroit-based General Motors has lost its position as the nation’s top-selling carmaker for the first time since 1931, delivering the torch to Japanese powerhouse Toyota Motor.
Chevrolet and GMC combined full-size and midsize truck sales topped 2.2 million cars in 2021, solidifying GM’s ninth straight year of combined pickup sales supremacy. GM reported a 13% year-over-year drop in overall revenue due to problems with the semiconductor supply chain. CNBC says that Toyota sold 2.3 million automobiles in the United States last year, an increase of 10.4 percent from 2020.
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A 114,034-vehicle gap separated the two manufacturers’ sales, according to a study released late Tuesday. Non-domestic automakers haven’t held the #1 rank in the United States before.
Report said that Toyota was able to handle supply chain concerns better, enabling it to assume GM’s throne for the first time in over 90 years. According to GM, the chip scarcity continues to be the primary restraint on sales.
“Those inventory levels are starting to recover against a background of solid fundamental demand conditions, with numerous job vacancies, large household savings, and low loan rates,” said Elaine Buckberg, GM’s chief economics officer.
