U.S. automakers on Friday reported a slump in first-quarter U.S. sales as the industry-wide inventory crunch caused by disruptions to supply chains and chip shortages hit retail sales.
, reported lower overall sales for the quarter compared to a year ago. Sales of electric and hybrid vehicles jumped as prices for gasoline soared to nominal records.
Toyota, which in 2021 upstaged GM's decades-old position as the top-selling automaker in the United States, outsold the company in the first quarter on increased demand for its Lexus hybrid and electric vehicles. , Kia America, Mazda all posted a drop in their overall U.S. quarterly auto sales. However, Hyundai said its first-quarter retail sales to individual consumers rose 1.4% from a year ago to a record for January to March."If gas prices remain high, that's going to continue to push consumers toward green technology," said Randy Parker, Hyundai's senior vice president for U.S. sales.
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