As often, the Japanese automaker did not take a victory lap.
“We thank our loyal customers for their continued trust in the Toyota and Lexus brands and their patience as we work around the clock to ensure their needs are satisfied,” said Jack Hollis, senior vice president, automotive operations. “As we work through the ever-changing market dynamics, our customers can depend on our diverse lineup of sedans, trucks, utilities and electrified vehicles for their lifestyle.”
GM attributes its second place to the shortage of parts needed to assemble certain models and to disruptions in supply chains. But to be clear, Toyota is facing the same problems. However, the Japanese group seems to manage its stock better, which allows it to limit the negative impact.
“Supply chain disruptions are not fully behind us, but we expect to continue outperforming 2021 production levels, especially in the second half of the year,” said Steve Carlisle, executive vice president and president, GM North America.
Hybrid Cars Versus EV It wouldn’t be surprising if Toyota cemented its title as the biggest U.S. vehicle seller in the second quarter because the same factors that held GM back still seem to be in place and have even gotten worse.
General Motors will cancel production during the week of April 4 at Lansing Grand River assembly, where it builds the Cadillac CT4, Cadillac CT5 and Chevrolet Camaro, because of a temporary part shortage.
The company is also going to halt production for a few weeks at an assembly plant in Fort Wayne, Ind., that builds the Chevrolet Silverado 1500 and GMC Sierra 1500 pickup trucks over the semiconductor chip shortage.
The prices of raw materials such as nickel, palladium and aluminum remain very high, which complicates their supply because there is an imbalance between supply and demand. The three elements help make catalytic converters, air conditioner condensers and other essential car parts.
“GM expects inventory to remain relatively low throughout the year due to high demand,” the company warned on Friday.
But, Toyota also sees its bet on hybrid vehicles paying off, while GM has chosen all-electric.
Sales of Toyota’s hybrid gas-electric vehicles, which now represent more than a quarter of the group’s sales, were down only 3.9 percent at 132,938 units in the first quarter, as consumers, faced with soaring gasoline and diesel prices, look to alternatives.
Conversely, GM only delivered 457 electric vehicles during the first quarter, despite a full order book. Sales are split between the GMC Hummer electric pickup (99 units) and the Chevy Bolt EV/Bolt EUV (358 units.)
These low numbers are due to GM suspending production of the Chevy Bolt EV/SUV Bolt EUV for several months. Production should resume on April 4.