Toyota On Pace to Lose U.S. Sales Race
After toppling GM last year, carmaker may be bumped down after facing market woes common throughout the industry.
Toyota says it expects sales to be flat or down slightly this year.
IMAGE: Toyota
As General Motors bested Toyota on U.S. sales for the second quarter in a row, the Japanese automaker looked poised to lose its place at the top of the sales heap just a year after it took the crown from GM, ending the Detroit brand’s 90-year dominance.
Toyota’s third-quarter U.S. sales dropped 7.1% year-over-year, and combined Toyota and Lexus sales are off more than 15% so far this year. GM, meanwhile, saw U.S. sales surge 24% in the third quarter, helped along by improved semiconductor chip supply.
Toyota, like many carmakers, has faced myriad headwinds, including supply-chain issues, from microchip shortages, to the war in Ukraine, to Hurricane Ian’s devastation in Florida. The challenges have kept it on a sales rollercoaster.
The carmaker told Automotive News that it expects its 2022 sales to be flat or down slightly from last year.
Originally posted on F&I and Showroom
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