GM hangs on to US sales crown, but Toyota closes in

General Motors retained its position as the top-selling auto company in the United States during the third quarter, despite a decline in sales. However, Toyota Motor Corporation was closing in on GM, with the rise of hybrid vehicles due to high gasoline prices. Industry research firm Cox Automotive predicts that combined market share of GM, Ford Motor, and Stellantis could fall to around 36 percent in the quarter.

Meanwhile, hybrid-heavy Asian brands such as Toyota and Honda are projected to account for more than half of new vehicle sales. The average price of regular gasoline reached $4.43 a gallon in September, a significant increase from $3.20 a year earlier. Toyota's Corolla hybrid model, in particular, saw a nearly 36 percent increase in sales, jumping to 13,003 units from the previous year.

Analysts anticipate that Toyota will benefit the most from the shift towards hybrid vehicles. Honda, on the other hand, has maintained leasing deals to attract new customers, while other automakers have shifted away from this strategy. Stellantis' third-quarter sales remained roughly flat, with 324,277 units compared to the previous year.

Overall, US sales are estimated to be around 4.1 million units, a 1 percent decrease from the previous year.