Jan 4, 2023 - Economy & Business
Toyota loses U.S. vehicle sales title to General Motors
The "happy dance" is over for Toyota.
Driving the news: General Motors has reclaimed its title as the best-selling automaker in the U.S. after losing the crown to Toyota in 2021 for the first time since the 1930s.
Details: GM reported Wednesday that it sold 2.274 million vehicles in the U.S. in 2022, up 2.5% for the year.
- Toyota's U.S. sales slipped 9.6% to 2.108 million.
Flashback: When Toyota dethroned GM in 2021, CEO Akio Toyoda said he did a "happy dance."
Yes, but: Toyota gets the last laugh. It was the world's best-selling automaker in 2021 and is not in jeopardy of losing that title to GM, which trails Toyota by several million vehicles globally.
💭 Nathan's thought bubble: The sales crown — both globally and domestically — amounts to not much more than bragging rights.
- But as Toyota's past response illustrates, the boss still cares.