General Motors’ U.S. sales slumped in the first quarter, trailing rival Toyota’s

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  • GM’s US sales fell 20.1% from a year ago, after supply-chain disruptions left dealers with thin inventories.
  • Toyota faced similar challenges, but was able to squeeze GM for the US sales crown again.

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General Motors’ first-quarter US sales fell 20% from a year ago, in line with analysts’ expectations, as ongoing supply-chain issues disrupted its production and kept dealers’ inventories tight.

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But GM’s North America chief said that supplies of semiconductor chips are improving, and that he expects that GM will be able to post year-over-year sales increases by the second half of 2022.

GM’s factories were able to operate at “close to normal levels” in the first quarter, said Steve Carlisle, president of GM’s North America business unit.

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The time lag between production and deliveries to dealers meant that GM’s total US sales those lagged of rival Toyota, which took the US sales crown from GM in 2021.

This is developing news. Check back for updates.

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Credit: www.cnbc.com /

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