US sales at top automakers rise on improving inventory, Toyota struggles

[BumRushDaShow]

Source: Reuters

April 3 (Reuters) - Top global automakers reported a rise in first-quarter U.S. sales on improving shipments to dealers, with the exception of Toyota Motor Corp (7203.T), which continued to grapple with parts shortage, data showed on Monday. General Motors Co (GM.N), which replaced Toyota as the top U.S. automaker in 2022, posted a 17.6% rise in first-quarter auto sales.

"We gained significant market share in the first quarter, pricing was strong, inventories are in very good shape, and we sold more than 20,000 EVs (electric vehicles) in a quarter for the first time," GM Executive Vice President Steve Carlisle said in a statement.

Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting carmakers' ability to meet the upsurge in demand for personal mobility. The companies have been trying to make up for the lost production ever since as supply chain snags gradually ease.

But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say, as they watch out for signs of plateauing demand. The average transaction price of vehicles, too, has surged over the last one year. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds.

Read more: https://www.reuters.com/markets/us/us-first-quarter-auto-sales-set-rise-better-inventory-2023-04-03/

[NullTuples]

1. Maybe Toyota should stop *proudly* supporting insurrectionist GOP politicians?

I don't know if that's part of the cause, but I do know that it's why I didn't even consider the brand and will not for a very long time.

[IbogaProject]

2. Toyota backed T45 ?

Did they really back him?

[NullTuples]

5. "Toyota broke its pledge not to give money to lawmakers who voted to overturn 2020--again."

https://www.usatoday.com/story/money/cars/2021/06/28/toyota-election-insurrection-republicans-congress-donationss/5370309001/

https://www.vice.com/en/article/akvmjp/toyota-republican-donations-big-lie

[Vinca]

3. If Toyota decided to sell a bona fide small truck again, I'd be first in line.

[NullTuples]

6. Try Ford's Maverick - it's the size of the old Ranger & w/ available hybrid, too?

[Tikki]

4. Where I am from in So Cal, car buyers would have been...

standing in line last year and this year to get a real EV from
Toyota..their reputation on hybrids is top notch and could have translated
to a fine EV.

But they rushed through a cross-over EV with poor range
and issues that caused a recall immediately on delivery.

It is so hard for me to believe the same company that stood firm
with the hybrid way back when and was proven right would take the
EV market so nonchalantly.

I know not every place in the U.S. is a hot EV market..But much of So Cal
is a hot spot for EV sales.

Tikki

[IbogaProject]

7. They are heavally into Hydrogen

Toyota is cooperating with Mazda who has better full electric vehicle tech but I haven't heard much since that was initially announced. Toyota has been working on Hydrogen for a longtime now and they refuse to give it up. The whole hybrid phase was their planned prelude to using Hydrogen as a motor fuel.