General Motors of America has lost the title of America’s Top Car Seller for the first time since 1990.
Japan’s Toyota took the number one spot with over 2.3 million sold vehicles in 2013, an increase of 10%.
GM stated that 13% of its sales were due to the severe shortage in semiconductor parts which is affecting the automotive industry.
Detroit had been the top-selling US vehicle manufacturer since 1931, and it promised to bounce back.
According to Reuters, Jim Cain, a spokesman for the company said that “I wouldn’t rush out if (Toyota), and get a We’re Number 1′ tattoo.”
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Analysts expect that the US will see an increase of 2% in new car sales in 2021, compared with 2020 when the market was still recovering from the outbreak of the coronavirus pandemic.
But, the level of purchases is still below pre-pandemic levels as businesses struggle with supply chain problems, issues that have also caused higher prices for consumers.
Elaine Buckberg (GM Chief Economist) stated, “The main constraint on sales continues to be the reduced inventory levels as a consequence of the semiconductor shortage,” in a statement discussing sales trends and the outlook for 2022.
GM sold approximately 2.2 million cars last year, down from 2.5million in 2020. The company relies on the profitability of its pick-up trucks as well as its SUVs and SUVs for its financial success.
Toyota saw strong sales for its hybrids, and was less affected by shortages of chips than other car manufacturers. This is due to the fact that it decided to create a stockpile following the earthquake and tsunami of 2011. However, it was forced to decrease production because of the shortages.
However, America’s largest car manufacturers have lost ground to foreign rivals long before the pandemic.
Ford, General Motors, Chrysler and Dodge once represented as high as 90% of US auto sales. This figure was more than twice as large as it was in 2008. This has dropped to an even lower percentage.
For 20 years, Toyota’s Camry was the most popular passenger car in America. Rav4 is the number one SUV.
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