As expected, Toyota (TM) has passed Ford (F) in terms of monthly US vehicle sales. In May, Ford sold 250,000 vehicles in its domestic market. Toyota sold 269,00 taking its US market share to 17.3%.
In May, GM (GM) sold 371,000 vehicles giving it a share of 23.9%. At this point Toyota is not longer very far behind.
A look at sales of individual models makes a fairly strong case the the US sales gap between the two companies will continue to narrow. GM’s top seller is the Chevy Silverado pick-up, which was the No.1 selling vehicile in the US during May at nearly 64,000 units. High gas prices could certainly make it difficult for the truck to do as well in the second half of the year.
Three of the top 10 selling vehicles during May were Toyotas. The Camry sold 50,000 units, up 12%. The Corolla sold 45,000, up 5%, and the Prius sold 24,000 units, up 185%.
If oil and gas prices stay high, clearly these Toyota models are helped.
GM now faces the prospect of not only becoming the No.2 car company worldwide, but also losing its place in the pecking order here. All of this makes GM’s efforts in China and India more critical. At least in those markets it does not have the burden of high labor costs.
Halliburton moved its headquarters to Dubai. Perhaps GM should relocate its to Shanghai. At least it would have a chance to be No.1 in its new home market.
Douglas A. McIntyre
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