Supply Problems Hurt Auto Sales in 2022. Now Demand Is Weakening.

Toyota Motor, the world’s largest automaker by number of vehicles sold, said on Wednesday that its U.S. sales fell about 10 percent, to 2.1 million vehicles in 2022. But in an indication that the supply of chips and other parts improved toward the end of the year, the company said sales in the fourth quarter jumped 13 percent from a year earlier.

General Motors was one of the few automakers that bucked the industry trend, reporting a 2.5 percent increase in U.S. sales last year, to 2.3 million vehicles, putting it just ahead of Toyota after G.M. fell to second place for the first time in decades in 2021. G.M. said deliveries in the fourth quarter were up 41 percent.

Sales of G.M.’s electric car, the Chevrolet Bolt, rose more than 50 percent to 38,120 for the year. The company also said sales of the GMC Hummer, an electric pickup truck that sells for more than $100,000, increased to 854. The company, which has said it aims to do away with internal combustion engine vehicles by 2035, is counting on several new electric models to increase sales this year.

Another company that did relatively well was Hyundai, the South Korean automaker that sells cars under the Hyundai and Kia brands and that has also made a big push into electric vehicles. It’s full-year sales fell just 2 percent, and its fourth-quarter deliveries jumped 29 percent.

Sales were strong for electric vehicles and for companies that specialize in that fast-growing business.

Tesla on Monday reported a 40 percent increase in its global sales for 2022, but its deliveries in the last three months of the year fell short of analysts’ expectations. The company’s stock, which ended down 65 percent last year, fell 12 percent on Tuesday. It rose 5 percent on Wednesday by the close of trading.

And Rivian, a smaller electric vehicle company, said on Tuesday that it fell several hundred vehicles short of its goal of producing 25,000 trucks, sport utility vehicles and vans in 2022.

Source

Be the first to comment

Leave a Reply

Your email address will not be published.


*


thirteen − seven =