General Motors Co. is poised to outsell Japan’s Toyota Motor Corp in the second quarter, even as sales at major automakers in the United States are set to drop as inventory shortages persist, industry analysts say.
GM, which lost its crown as the U.S. auto sales leader last year for the first time since 1931 to Toyota, is also expected to sell the most new vehicles in the quarter among all big automakers, according to Cox Automotive.
Automakers are set to report U.S. new-vehicle sales for three months through June on Friday and Tuesday.
The U.S. auto industry has been hit by a global semiconductor shortage, a labor crunch and other supply chain logjams, and is failing to keep up with pent-up consumer demand.
Toyota has been one of the worst hit automakers this year as chip shortages and China’s COVID-19 lockdowns – which have impacted other automakers as well – forced it to repeatedly cut production, casting a cloud over its full-year production targets.
GM, in contrast, appears to have fared better. Earlier this month, it reaffirmed its goal of increasing 2022 vehicle production by 25%-30% from 2021.
The two automakers – along with Stellantis NV (STLA.MI), Hyundai Motor Co (005380.KS), Honda Motor Co (7267.T) and Nissan Motor Co Ltd (7201.T) – are set to report a decline in quarterly sales, except Ford, according to data from Cox and TrueCar.