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GM Loses U.S. Sales Crown to Toyota, Ends Run Dating to 1931

  • Detroit giant blames chip shortage, expects to regain lead
  • Japanese carmaker says its position is ‘not sustainable’
2022 Chevrolet Silverado 1500 ZR2
2022 Chevrolet Silverado 1500 ZR2Photographer: Bing Guan/Bloomberg
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Toyota Motor Corp. grabbed the U.S. sales crown from General Motors Co., swiping an honor that the Detroit automaker has held since Herbert Hoover was president.

If GM’s explanation is to be believed -- that its 43% fourth-quarter sales decline and 13% tumble for the year stemmed from a semiconductor shortage -- then last year’s sales race was really a supply-chain pageant. Whoever could best cajole stretched chip producers for more product came out a winner.