With a relatively stable supply chain, Toyota has come out in front of General Motors for the second consecutive quarter. The Japanese company remains as the top U.S. automaker on sales volume.
WSJ and CNBC reported on the 1st (local time) that Toyota has overtaken GM for two consecutive quarters and maintained its position as the top automaker in the United States.
Toyota sold 566,005 cars in the third quarter, up 1.4 percent from the same period last year.
GM sold only 444,997 units during the same period. That represents a drop of almost 33% from the previous year.
Hyundai Motor Company also displayed relative wisdom in dealing with the semiconductor supply shortage. Hyundai Motor America reported a 4 percent increase in third-quarter sales.
On the other hand, the sales Honda models declined by 11%.
Even though Toyota and Hyundai Motors are continuing to produce without major setbacks, the majority of automakers are experiencing a significant decline in sales due to a shortage of semiconductors.
JD Power estimates that U.S. car sales were only 3.3 million in the third and fourth quarters, down 13% from last year.
In the aftermath of last year’s Covid-19 pandemic, automakers didn’t expect the semiconductor shortage to last this long.
The problem was predicted to be resolved by this year, but now the outlook has been revised.
In particular, the delta mutation is causing difficulty because of a disruption of manufacturing operations. In particular in Malaysia and Vietnam, two major zones of semiconductor plants.
Analysts are gradually coming to the conclusion that it will take several years to resolve the semiconductor ongoing crisis.
In order to compensate for declining sales, automakers are raising prices amid strong demand, but there is concern that they will lose profits once the limit is reached.