Toyota Ranks No.1 in US Auto Market for 2 Consecutive Quarters... Hyundai Also Achieves Highest Retail Sales

[Image source=Yonhap News]

[Asia Economy New York=Special Correspondent Joselgina] Japanese Toyota has maintained its position as the leader in the U.S. automobile market for the second consecutive quarter, surpassing General Motors (GM).

According to Bloomberg and others on the 1st (local time), Toyota recorded sales of 514,492 units in the U.S. in the first quarter of this year. This placed it narrowly ahead of GM's 512,846 units, securing the top spot in the industry.

GM, which lost the top position in its home U.S. market to Toyota for the first time in 90 years in the fourth quarter of last year, was again outpaced by Toyota this time. Steve Carlisle, President of GM North America Sales, said, "We have not completely overcome supply chain disruptions," but added, "We especially expect production levels to exceed last year's in the second half of this year."

Compared to the same period last year, GM's U.S. market sales decreased by 20%, while Toyota's sales fell by 14.7%.

The total sales volume of the finished car industry declined due to supply chain impacts such as the shortage of automotive semiconductors. According to Bloomberg's aggregation of average forecasts from eight market research firms, total new car sales in the U.S. market for the first quarter of this year are expected to be 13.2 million units (annualized), a 26% decrease compared to the first quarter of last year.

Bloomberg reported that amid soaring oil prices, the popularity of hybrid vehicles has relatively contributed to Toyota's strong performance.

South Korea's Hyundai Motor Company sold a record-high 159,676 units (retail basis) in the U.S. market in the first quarter. This represents a 1.4% increase compared to the same period last year. According to Hyundai Motor America (HMA), sales of electric vehicles among these increased by 241%.

This content was produced with the assistance of AI translation services.