Toyota (TM value) Is out General Motors (General Motors) For the first time in a quarter to sell more cars in the United States, it is likely to be becoming the title of the top car seller in the United States.
Toyota announced on Thursday that it sold 688,813 vehicles in the United States, surpassing General Motors’ sales of 688,236 vehicles in the second quarter. General Motors said that its sales for the quarter increased by 40%, while Toyota confirmed that it increased by 39.8% during the same period.
If Toyota surpasses Ford, it may become the best-selling automaker in the United States. Ford reported a disappointing quarterly sales of 475,327 vehicles on Friday morning. Analysts expect Ford to sell 645,000 vehicles in the quarter, NBC Finance Channel Report.
However, Ford has said that due to chip interruption, it is expected to lose half of its production in the second quarter.The company stated that it expects Revenue decreased by $2.5 billion Due to the shortage of semiconductor chips, by 2021.
General Motors has said that it expects a shortage of chips to reduce its Operating costs are as high as US$150 to US$2 billion Beginning with the closure of the factory in 2021.
Toyota is also working with Chip shortageEdmunds Insights executive director Jessica Caldwell (Jessica Caldwell) told CNBC, but with more experience in dealing with inventory reduction and in-depth understanding of its supply chain, it is able to better manage production interruptions.
According to Reuters, Toyota’s ability to stay ahead of the chip shortage is to stock parts, which helps automakers avoid short-term chip effects that affect their competitors.
According to a report by the NBC Financial Channel, Edmonds said that except for the third quarter of 1998, General Motors has been the best-selling automaker in the United States, when Ford’s sales surpassed the company.
As of 9:53 a.m. Eastern Time on Friday, Toyota’s stock price was $176.18, up 70 cents, or 0.40%, while General Motors’ stock price was $58.72, down 39 cents, or 0.66%.