GM hangs on to US sales crown, but Toyota closes in
GM•GM remained the top US auto seller in the third quarter, though sales fell 5.5% to 670,974 vehicles. Toyota sales rose marginally to 633,223 as Corolla hybrid sales jumped nearly 36%.
1. GM leads as sales dip
GM retained the US sales crown in the third quarter, with sales down 5.5% to 670,974 vehicles. Toyota sales rose marginally to 633,223, while sales of the Corolla hybrid increased nearly 36% to 13,003.
2. Hybrids gain ground
High gasoline prices have pushed buyers toward hybrids. Regular gasoline averaged $4.43 a gallon in September, up from $3.20 a year earlier, and Cox Automotive expects GM, Ford and Stellantis to have a combined US market share of around 36% for the quarter.
3. Affordability pressures persist
Cox estimates overall third-quarter US sales at about 4.1 million vehicles, down around 1% from a year earlier. GM's electric vehicle sales fell 62%; Honda sales rose 9%, while Stellantis sales were roughly flat at 324,277.
