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Toyota overtakes General Motors in US car sales
Japanese automaker Toyota Motor Corp outsold General Motors in 2021, selling 2.3 million cars compared with 2.2 million for GM. Toyota is often considered one of the leading car producers in the world, but US companies such as General Motors have dominated the domestic market for many years. The Detroit-based company has led US sales since 1931.
Last year, Toyota’s US sales increased by 10%, while GM went down by 13%.
Jack Hollis, Toyota’s senior vice president in North America, downplayed his company’s success. “Yes, we did surpass General Motors in sales,” Hollis told CNBC on Tuesday. “But to be clear, that is not our goal, nor do we see it as sustainable.”
According to a forecast by data analytics company J.D. Power, about 15 million cars were sold in the US in 2021. Vehicle sales slightly improved last year compared to 2020. However, over the five years before the pandemic, sales averaged 17 million a year.
Published 19 January 2022
© InstaFintech Group
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© InstaFintech Group
