Toyota dethrones GM as U.S. sales leader after nearly a century on top

WASHINGTON, Jan 4 (Reuters) – Japanese automaker Toyota Motor Corp (7203.T) outsold Normal Motors Co (GM.N) in the United States in 2021, marking the to start with time the Detroit automaker has not led U.S. vehicle revenue for a complete year considering that 1931.

Toyota bought 2.332 million automobiles in the United States in 2021, in contrast with 2.218 million for Standard Motors, the automakers stated on Tuesday.

GM’s U.S. revenue had been down 13% for 2021 – and down 43% in the fourth quarter – even though Toyota was up 10% for the calendar year. GM last experienced reduce gross sales in 2010 at 2.202 million.

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For all of 2020, GM’s U.S. sales totaled 2.55 million, as opposed with Toyota’s 2.11 million and Ford Motor Co’s (F.N) 2.04 million.

Final yr was marred by a scarcity of semiconductors employed seriously in autos, forcing automakers to emphasis on their most profitable products.

GM reported on Tuesday it expects U.S. financial advancement will enhance U.S. whole light-weight-responsibility vehicle field sales from all over 15 million in 2021 to about 16 million in 2022.

GM has been the major seller of cars in the United States considering that 1931, when it surpassed Ford, in accordance to facts from industry publication Automotive Information.

Toyota is not boasting about the accomplishment. Senior Vice President Jack Hollis explained the automaker is “grateful” for its loyal buyers, but “remaining No. 1 is never ever a concentrate or precedence.”

The Toyota symbol is found on the hood of a recently launched Camry Hybrid electrical motor vehicle in New Delhi, India, January 18, 2019. REUTERS/Anushree Fadnavis

The Japanese automaker does not see it as sustainable that it can keep its U.S. product sales lead and had no designs to use the 2021 accomplishment in any kind of advertising and marketing, he additional. Toyota had been credited by analysts for weathering the chip lack much better than other automakers.

GM spokesman Jim Cain stated the Detroit automaker experienced a very solid gross sales yr in the United States in entire-measurement SUVs and pickup vehicles as it has targeted on profitability, and as the offer of semiconductors improves, so will profits.

“I would not rush out if I have been (Toyota), and get a ‘We’re No. 1’ tattoo,” he reported.

GM below Chief Govt Mary Barra also has emphasized profitability above volume, abandoning this kind of income-losing markets as Europe and Russia.

BULLISH ON 2022

For the whole field, profits concluded 2021 at just under 15 million autos, in accordance to Wards Intelligence, with the once-a-year sales rate in the thirty day period of December finishing at 12.44 million. The complete-calendar year amount was properly underneath the five-yr ordinary of 17.3 million from 2015-2019.

IHS Markit forecasts U.S. sales are anticipated to get to just about 15.5 million in 2022. Toyota sees market income jumping to 16.5 million this year, with desire even greater if the marketplace can enhance generation additional, with its very own profits topping 2.4 million.

“If you would have questioned me to forecast how the year was going to go at the commencing of (final) January, I would have gotten it all mistaken since this whole microchip shortage just came out of still left industry and it wreaked a great deal of havoc,” Hyundai Motor The united states (005380.KS) gross sales main Randy Parker reported in an job interview. “But at the exact time, it sharpened our ability established.”

“I am extremely bullish on 2022,” he extra. Hyundai’s U.S. sales very last yr rose 19% to much more than 738,000 cars, including a file number on the retail aspect.

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Reporting by David Shepardson in Washington Additional reporting by Ben Klayman in Detroit Modifying by Jonathan Oatis, Nick Zieminski and Marguerita Choy

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