News
After Nearly A Century Of Dominance, GM Has Been Dethroned As America’s Largest Automaker By Toyota
Toyota has surpassed General Motors as the leader in US auto sales for the first time in nearly a century.
It is yet another sign that US automakers’ dominance in their home market has waned.
Toyota was No. 4 in US sales as recently as 2005, with GM, Ford, and what was then known as DaimlerChrysler all in front, accounting for a combined 57 percent of US sales.
However, in 2021, GM, Ford, and Stellantis — the European automaker that owns Chrysler — combined for only 38% of the US market in the first nine months of the year. Even with Tesla, the US automakers only account for slightly more than 40% of total sales.
Toyota and General Motors both reported year-end sales on Tuesday. GM (GM) reported full-year US sales of 2.2 million vehicles, trailing Toyota by 114,000 vehicles, or 5%. (TM).
In the second quarter, GM trailed Toyota slightly, and in the third quarter, it trailed significantly. Toyota’s fourth-quarter sales fell by 30% compared to the last three months of 2020, but GM’s sales fell by 43%, allowing Toyota to maintain its lead.
The drop in sales at the end of the year was caused by a shortage of computer chips, which limited production and vehicle supply. According to Cox Automotive, industrywide US sales are expected to be down 24 percent in the third quarter. The majority of automakers will report US sales on Tuesday, with Ford reporting on Wednesday.
Experts are divided on whether Toyota will be able to maintain its sales lead in the United States in the coming years.
“I wouldn’t expect Toyota to maintain this lead,” said Jessica Caldwell, Edmunds’ executive director of industry insights. “It’s not like GM has been performing some sort of magical feat all these years.” They simply have more channels to sell through and more brands.”
GM stated that it expects to regain the lead soon.
“Among other things, the semiconductor shortage created an unprecedented set of circumstances in 2021,” the company said. “However, GM maintained its lead in full-size pickups and SUVs.” And 2022 begins with a gradually improving supply chain, which should lead to growth in 2022 as we introduce several new vehicles, including EVs and redesigned pickups.
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