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GM sold 80,000 more cars than Toyota in 2022, after losing number 1 in the US

GM sold 80,000 more cars than Toyota in 2022, after losing number 1 in the US
  • GM will have sold nearly 80,000 more cars than Toyota in 2022 after falling behind last year.
  • Toyota was the best-selling automaker in the US in 2021, ending GM’s 90th anniversary at the top.
  • GM’s sales suffered from a semiconductor shortage, but as the shortages eased, it bounced back.

The General Motors Company will have sold nearly 80,000 more cars than its Japanese rival Toyota by 2022, as it fights back to regain its place as the top-selling automaker in the US.

On Monday, many of the largest US automakers released their third-quarter sales results for the region.

GM sold 555,580 vehicles in the US in the three months to September, up 24% from the same period last year. announced. Toyota sold 526,017 in the same period, at its discretion figures, down 7.1% year-on-year. It is the second consecutive quarter that GM has outperformed its rival.

The latest figures put GM’s annual sales at over 1,650,000, nearly 80,000 more than Toyota’s 1,572,000 for the year so far, and see it maintain its place at the top of US auto sales.

In a break from a 90-year trend, Toyota dethroned GM at the top last year after a series of supply chain shortages, particularly in semiconductors, hampered GM’s production for the year. It was the first time since 1931 that GM was not the biggest seller of cars in the US, an event that Toyota president Akio Toyoda said made him do a “happy dance” in his office.

GM said improved access to semiconductors had boosted production.

“Supply chain disruptions are not completely behind us, but we expect to continue to exceed production levels for 2021, especially in the second half of the year,” said Steve Carlisle, executive vice president and president of GM North America this week.

GM was outnumbered among the major automakers as quarterly sales surged in a market bracing for a slowdown as consumers tighten their belts amid rising interest rates and the cost of living.

Neither GM nor Toyota responded immediately when approached by Insider for comment on Tuesday.

Stellantis NV – which owns brands such as Ram, Dodge and Chrysler – revealed it had sold nearly 386,000 cars in the third quarter of 2022, an overall decline of 6% compared to 2021. Honda saw third-quarter sales drop nearly 36%, the company said.

Korean giant Hyundai, which has been rapidly expanding its investment in the US, saw sales rise 3% in the three months to September, its “best” Q3 performance ever, the company said. Ford will release figures later on Tuesday.