Sales of cars of these brands decreased by as much as 15%.
General Motors (GM) and Toyota are among the companies with the fewest quarterly vehicle sales in the US, at a time when supply chain problems continue to destabilize the industry.
In the quarter ending June 30, General Motors sold 582,401 vehicles. 15% less than the same period last year.
GM said it needs components for 95,000 partially built vehicles and expects to have them delivered by the end of the year.
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This scenario became normal in the past year as automakers try to deplete their stores amid a tight supply of semiconductors and other key parts of the industry.
General Motors restated its full-year profit forecast, but its second-quarter net income of $1.6 billion to $1.9 billion was below analyst estimates.
Toyota, for its part, announced that 531,105 units were sold in the same period, which is a 23% decrease compared to the same quarter of 2021. The Japanese company cited “ongoing inventory issues” affecting its dealers.
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Cox Automotive expects a 19.3% decline in US auto sales for the second quarter.
“Although economic conditions have deteriorated in recent months, supply shortages remain the biggest headwind facing the auto industry,” said Charlie Chesbrough, chief economist at Cox.
For its part, Hyundai Motor America also announced its quarterly results which recorded a 23% drop in sales.
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