For the first time since 1931, General Motors Co. is not a major car dealer in the US
The Detroit-based company lost its crown to its Japanese counterpart Toyota Motor Corp., which increased sales 10% last year despite falling 28% in the fourth quarter. With 2.3 million units sold in the US in 2021, Toyota surpassed 2.2 million GM.
A Japanese car manufacturer said selling GM is not sustainable. “This is not our goal,” Jack Hollis, vice president of U.S. sales at Toyota, told a news conference.
The above change reflects the year’s consistency that most car manufacturers will be happy to give up. From disruptive movements to semiconductor depletion, the 2021 crisis has left manufacturers struggling to meet their demands. While industrial sales are expected to rise steadily from 2020, supply cuts have dampened any hopes of a speedy recovery from the epidemic.
Car manufacturers probably sold about 12.5 million new cars in December, down 23% from a year earlier, according to a poll among six researchers surveyed by Bloomberg.
The magnitude of the crisis was revealed on Tuesday when several automaker manufacturers announced US sales for the fourth and fourth quarter. Ford Motor Co is expected to release its figures on Wednesday.
For a full year, car sales probably reached 14.9 million cars, jumping 2.5% from the days of the 2020 coronavirus epidemic, according to Cox Automotive.
The year was not without bright spots. Computational difficulties helped push some consumers to the more profitable, more selective forms, while the massive embrace of electric vehicles advanced. Indeed, Tesla Inc. Sunday exceeded Wall Street’s expectations and history of globalization.
Some automaker manufacturers will be pressured to comply with this type of system. We will see results as manufacturers claim throughout the day.
GM Lost Location
GM annual sales fell by 13%, down by 43% last season. Chevy Silverado sales fell more than 30% and GMC Sierra sales fell by 21% a quarter. The giant was quick to criticize the chip’s vulnerability for its shortcomings, claiming it drew 13% on sales.
This forced GM to have an opinion on its offer. In the sad quarter, sales of Chevy Tahoe and Suburban, GMC Yukon and Cadillac Escalade major sports cars all went up. These are the most profitable cars the company sells.
As for investors, GM said the production of semiconductor equipment was improved by the end of the year, and the company predicted another change in 2022.
Toyota’s strong performance in 2021 was boosted by sales of sedans such as the Corolla and Camry. Although the automaker’s best-selling car remained RAV4, sales of compact SUVs dropped by 5% per year. Sales of Corolla and Camry rose 5% and 6.6%, respectively.
While the company’s final investment is still coming, Toyota probably acquired one-fourth of the market share in the fourth quarter, giving them 15.5% of sales and top-notch positions. This is the first time that GM has not been ranked No. 1 since 1931, when it beat Ford.
Honda Crossover Leads Shipping
Like Toyota, Honda Motor Co. managed to boost sales for a year despite a significant decline at the end. December figures fell 23% to 105,068 vehicles, while sales of 2021 rose 8.9% to 1.47 million.
Honda’s plucky CR-V compact crossover led the lead, up 8.3%. Civic compact and Accord midsize sedans also did well, continuing to dominate Asian nations in the region. Among Honda’s biggest gainers: its Ridgeline design and Passport mid-size SUV, both of which were redesigned to show a more “solid” look.
Hyundai Cheap Chic
Name of Hyundai Motor Co. was one of the most successful last year, with a 19% increase in sales since last year. The Korean car manufacturer lost steam in less than 2021 months, however, a 15% drop in the fourth quarter on 152,446 vehicles. For the month of December alone, its sales fell 23%.
U.S. sales were higher than ever, motivated by the demand for the budget-friendly Venue subcompact crossover, starting at less than $ 20,000, as well as the Kona subcompact SUV and Tucson compact SUV.
Hyundai had similar levels as Toyota and other Japanese competitors, but availability declined by the end of the year, said Randy Parker, vice president of sales at Hyundai Motor America. The company was restructured and pushed dealers to sell more cars they did not have.
“You’re good at selling online and you’re good at selling your pipeline,” Parker said in an interview. “This is what we did, and that helped us do well in a very difficult year.”
-It’s support from Gabrielle Coppola and Keith Naughton.