According to the Wall Street Journal, Toyota Motor surpassed General Motors to become the largest automaker in the US for the first time. This shift is largely caused by a global chip shortage. The shortage of chips has caused varying degrees of blows to the auto industry.
For decades, Toyota has been working hard to expand its business in the United States. In 2021, its annual sales exceeded General Motors by approximately 114,000. Toyota Motor said on Tuesday that it will sell 2.3 million vehicles in the United States in 2021, an increase of about 10% from 2020.
In contrast, General Motors said that car sales in 2021 fell by nearly 13% to 2.2 million units, because the shortage of chips had a greater impact on its manufacturing business, resulting in fewer cars for dealers. For decades, General Motors has been the largest-selling automaker in the United States.