US car giant
General Motors has lost its title as America's top car seller for the first
time in 90 years.
Japan's
Toyota claimed the top spot, selling more than 2.3 million vehicles last year,
up 10%.
GM said its
sales, which fell 13%, were hurt by the widespread shortage of semiconductor
parts that has been affecting the car industry.
The Detroit Company
had ranked as the number one US car seller since 1931 and vowed it would bounce
back.
"I
wouldn't rush out if I were (Toyota) and get a 'We're No 1' tattoo,"
spokesman Jim Cain said, according to Reuters.
·
Toyota extends Japan car production stoppages
·
More young drivers choosing to learn about
automatic cars
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Why is there a chip shortage for computers and
cars?
Overall,
analysts expect the number of new cars sold in the US is projected to have
increased roughly 2% in 2021 compared to 2020 when buyers were reeling from the
onset of the coronavirus pandemic.
But
purchases remain depressed compared to their pre-pandemic levels, as companies
grapple with supply chain woes, problems that have also pushed prices higher
for consumers many business listings.
"The
key constraint for sales continues to be reduced inventory levels as a result
of the semiconductor shortage," GM chief economist Elaine Buckberg said in
a statement discussing the firm's sales and outlook for 2022.
GM sold
roughly 2.2 million vehicles last year down from 2.5 million in 2020, relying
on its profitable pick-up trucks and SUVs to boost its bottom line.
Toyota,
which saw strong sales of its hybrids and other models, has been less affected
than some other carmakers by the shortage of chips, thanks to its decision to
build up a stockpile after the 2011 earthquake and tsunami. But it has also
been forced to cut production amid the shortages business listings.
But
America's top car companies have been ceding ground to international rivals
well before the pandemic-related snarls.
Ford,
General Motors, and Chrysler once accounted for as much as 90% of all US
car sales and still claimed more than half as recently as 2008. But that
has slid lower.
Toyota's
Camry has been the top-selling passenger car in the US for 20 years, while it’s
Rav4 has ranked as the best-selling SUV for five years free business listings.
More
on this story
·
Toyota
extends Japan car production stoppages
·
More
young drivers choosing to learn about automatic cars
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