Photo: Toyota
The last two years haven't been the best for automotive manufacturers, for obvious reasons. U.S. auto manufacturers reported on Friday evening a plunge in their first-quarter domestic car sales, but as a side note, for the second quarter running, Toyota managed to outsell U.S. giant General Motors, Reuters reported.
Last year, Toyota outsold GM in 2021 auto sales, ending the manufacturer's 91-year domestic top-selling streak in the country. The Japanese manufacturer outsold General Motors again in the first quarter of 2022, owing to an increased demand for its hybrid and electric vehicles.
General Motors has been America's leading domestic vehicle manufacturer for the last 91 years after snatching the top spot from Ford. It has not lost its seat since 1931. According to analysts, the sudden shift in market position could also result from the ongoing chip shortage.
South Korea's Kia, Hyundai, and Japan's Mazda all recorded a slump in North American auto sales in Q1 2022. Hyundai said there was a massive surge in electrified vehicle purchases In the region of 241% in January-March compared to the same period in 2021.
Hyundai's senior vice president for U.S. sales said if gas prices remained high, more North American consumers would shift towards green technology.
Similarly, Edmunds' executive director of Insights, Jessica Cladwell, said the rising cost of gas was in the mind of car shoppers in March. However, the scarcity of inventory is the leading cause of low new vehicles sales witnessed in the first quarter.
She added that inventory issues would affect U.S. sales throughout the year due to the ongoing Ukraine-Russia war.
Toyota Motors North America's senior vice president of automotive operations said he doesn't expect a significant long-term shift in the market since three-quarters of automobiles they sold were SUVs and trucks.
Toyota might have dominated the sales, but it doesn't mean GM experienced a complete dip. Some of its large SUVs and trucks help up.
According to the American giant auto manufacturer, some of its largest and most expensive SUVs, including the Chevrolet Suburban, Yukon, and Escalade, experienced a significant rise in sales compared to last year.
General Motors has been America's leading domestic vehicle manufacturer for the last 91 years after snatching the top spot from Ford. It has not lost its seat since 1931. According to analysts, the sudden shift in market position could also result from the ongoing chip shortage.
South Korea's Kia, Hyundai, and Japan's Mazda all recorded a slump in North American auto sales in Q1 2022. Hyundai said there was a massive surge in electrified vehicle purchases In the region of 241% in January-March compared to the same period in 2021.
Hyundai's senior vice president for U.S. sales said if gas prices remained high, more North American consumers would shift towards green technology.
Similarly, Edmunds' executive director of Insights, Jessica Cladwell, said the rising cost of gas was in the mind of car shoppers in March. However, the scarcity of inventory is the leading cause of low new vehicles sales witnessed in the first quarter.
She added that inventory issues would affect U.S. sales throughout the year due to the ongoing Ukraine-Russia war.
Toyota Motors North America's senior vice president of automotive operations said he doesn't expect a significant long-term shift in the market since three-quarters of automobiles they sold were SUVs and trucks.
Toyota might have dominated the sales, but it doesn't mean GM experienced a complete dip. Some of its large SUVs and trucks help up.
According to the American giant auto manufacturer, some of its largest and most expensive SUVs, including the Chevrolet Suburban, Yukon, and Escalade, experienced a significant rise in sales compared to last year.
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