Toyota to overhaul GM to grow to be America’s best-selling automaker in 2021

Toyota autos are provided on the market at a dealership on November 04, 2021 in Chicago, Illinois.

Scott Olson | Getty Photos

DETROIT – Toyota Motor dethroned Normal Motors as America’s best-selling automaker in 2021, marking the primary time since 1931 that the Detroit automaker was not the best-selling automobile firm in America

That is the primary time a non-domestic automaker has topped the US.

Toyota was capable of higher handle provide chain points, permitting it to grab GM’s throne for the primary time in 90 years. The continued scarcity of semiconductor chips has led to sporadic closures of crops and record-low automobile inventories in 2021.

GM stated Tuesday it bought 2.2 million autos within the US in 2021, down 12.9% from a yr earlier. By comparability, Toyota stated it bought 2.3 million autos within the US final yr, up 10.4% in comparison with 2020. The distinction in gross sales between the 2 automakers was 114,034 items.

Jack Hollis, Toyota North America’s senior vice chairman of automotive operations, lowered the corporate’s No. 1 rating.

“Sure, we outperformed Normal Motors in gross sales,” he advised reporters throughout a name on Tuesday. “However to be clear, this isn’t our objective, nor will we see it as sustainable.”

Based on knowledge from the business publication Automotive Information, GM has been the most important vendor of autos in America since 1931, when it overtook Ford Motor.

GM’s inventory hit a brand new 52-week excessive of $65.98 per share earlier than closing up 7.5% on Tuesday at $65.74 per share. The bounce adopted the automaker saying that chip shortages had been easing and that it ramped up manufacturing on the finish of the yr.

GM stated its fourth quarter manufacturing and wholesale distribution had been up considerably from the third quarter as provides elevated. Supplier stock, together with in-transit autos from sellers on the finish of the fourth quarter, was 199,662, up from 128,757 automobiles and vehicles on the finish of the third quarter.

Toyota was capable of obtain the milestone by growing gross sales of each automobiles and vehicles final yr, regardless of a 25% drop in gross sales of its full-size Tundra pickup. Gross sales of its smaller Tacoma pickup rose 5.7% to 252,520 items.

It was a troublesome promoting yr for GM as a result of semiconductor chip shortages. Gross sales of its much-important Chevrolet Silverado pickup – its best-selling automobile – declined 10.8% to lower than 530,000 items.

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Aside from Ford, which bought 1.7 million autos as of November, most main automakers are as a result of report their fourth quarter and 2021 complete dwelling gross sales on Tuesday. Gross sales of recent light-duty autos are anticipated to be round 15 million in 2021.

Trade analysts and forecasters are combined on their gross sales forecasts for 2022 as a result of market volatility. These vary from about 15.2 million autos to about 16 million autos or higher.

GM North America President Steve Carlisle stated the automaker plans to extend its gross sales and marker share subsequent yr, probably regaining its gross sales title.

“In 2022, we plan to benefit from the robust financial system and anticipated improved semiconductor provide to extend our gross sales and share,” he stated in a launch Tuesday.

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