Toyota’s Chip Supply Helps It Beat General Motors for the First Time

- Advertisement -

TOKYO— Toyota Motor Corp.’s decision to build a stockpile of chips for its cars paid off by lifting it above perennial top dog General Motors Co. in the U.S. for the first time.

But the Japanese car maker, whose American dealers have supply problems of their own, isn’t thumping its chest about its triumph over Detroit.

Between April and June, Toyota sold 688,813 vehicles in the U.S., giving it a razor-thin 577-unit margin of victory over GM, according to figures from the two companies. It was the first time a Japanese car maker took the top position in the U.S., according to car-shopping website Edmunds.com, and came as the politically sensitive U.S. trade deficit is widening.

“Toyota thinks this was an unusual case due to production constraints and other factors,” spokeswoman Shino Yamada said. She called it a “short-term event for this quarter.”

Toyota bet earlier than most car makers on a recovering U.S. car market. As a result, the company cut production and parts orders less sharply than competitors, making it better prepared for the current surge. But even Toyota wasn’t fully prepared for the frenzy of car buying.

Latest news

Canada’s Penny Oleksiak wins record 6th Olympic medal at Tokyo Summer Games – National

Canada’s Penny Oleksiak has won her second medal of the Tokyo Olympics and sixth of her career, taking bronze in the women’s 200-metre freestyle...

Starbucks, Facing Higher Costs, Pushes Upscale Coffee

Starbucks Corp. said higher labor and supply costs are likely to linger for...

Ride-Sharing Startup Swvl Nearing Deal to Go Public With Female-Led SPAC

Middle East-based ride-sharing technology startup Swvl Inc. is nearing a deal to go public via...
Related news

Canada’s Penny Oleksiak wins record 6th Olympic medal at Tokyo Summer Games – National

Canada’s Penny Oleksiak has won her second medal of the Tokyo Olympics and sixth of her career, taking bronze in the women’s 200-metre freestyle...

Starbucks, Facing Higher Costs, Pushes Upscale Coffee

Starbucks Corp. said higher labor and supply costs are likely to linger for...

Ride-Sharing Startup Swvl Nearing Deal to Go Public With Female-Led SPAC

Middle East-based ride-sharing technology startup Swvl Inc. is nearing a deal to go public via...

LEAVE A REPLY

Please enter your comment!
Please enter your name here