{
  "id": 11250343,
  "title": "GM hangs on to US sales crown, but Toyota closes in",
  "url": "https://urgent.news/2026/10/01/gm-hangs-on-to-us-sales-crown-but-toyota-closes-in-11250343",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-01T17:53:34.000Z",
  "source": {
    "name": "CNA - Business",
    "slug": "cna-business",
    "url": "https://www.channelnewsasia.com/business/gm-hangs-us-sales-crown-toyota-closes-in-6425181"
  },
  "original_language": "en",
  "account": "General Motors maintained its position as the leading U.S. automobile seller during the third quarter, although its sales experienced a decline. Toyota Motor, on the other hand, made progress in reducing the gap between the two brands as high gasoline prices encouraged consumers to opt for hybrid vehicles. According to industry research firm Cox Automotive, the combined market share of GM, Ford Motor, and Stellantis, collectively known as the Detroit Three, could potentially drop to approximately 36 percent during the quarter.\n\nThe rise of hybrid vehicles can be attributed to the ongoing Iran war, which has resulted in soaring oil and fuel prices. In September, the national average for regular gasoline reached a record $4.43 per gallon, compared to $3.20 a year earlier. Analysts anticipate that Toyota Motor Corporation, particularly its popular Corolla hybrid model, will benefit the most from this shift in consumer preferences.\n\nToyota's overall sales increased slightly to 633,223 units in the third quarter, while the Corolla hybrid's sales surged nearly 36 percent, rising to 13,003 units. Additionally, Cox predicts that Hyundai Motor Group will surpass Ford in U.S. quarterly sales for the first time, projecting a sales figure of 511,421 vehicles for Hyundai, compared to Ford's 504,172 units. Ford is scheduled to release its quarterly sales figures on Friday.\n\nDespite a decline in borrowing costs, affordability pressures remain as higher new vehicle prices and lower trade-in values lead to increased monthly payments, as stated by research firm JD Power. The average transaction price for a new vehicle rose by 1.9 percent to $50,089 in August compared to a year earlier, according to Cox. GM's affordable models, such as the Trax crossover, helped alleviate some of the impact, but overall sales during the third quarter fell by 5.5 percent to 670,974 units. The company's electric vehicle sales also dropped by 62 percent from the previous year, as demand declined due to the expiration of the $7,500 federal tax credit in September 2025. This decline in EV sales has been observed across the entire industry.\n\nMeanwhile, Honda, which saw a 9 percent increase in quarterly sales compared to the previous year, has chosen to continue offering lease deals while other automakers have shifted away from this strategy. Lance Woelfer, Vice President of Automobile Sales at Honda, explained that leasing provides a consistent flow of customers returning to the market. Stellantis, however, reported that its third-quarter sales remained relatively flat at 324,277 units, compared to the previous year.",
  "summary": null,
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 3,
    "also_reported_by": [
      {
        "outlet": "Channel News Asia",
        "title": "GM hangs on to US sales crown, but Toyota closes in",
        "url": "https://urgent.news/2026/10/01/gm-hangs-on-to-us-sales-crown-but-toyota-closes-in",
        "published": "2026-10-01T17:53:34.000Z"
      },
      {
        "outlet": "Investing.com",
        "title": "GM hangs on to US sales crown, but Toyota closes in",
        "url": "https://urgent.news/2026/10/01/gm-hangs-on-to-us-sales-crown-but-toyota-closes-in",
        "published": "2026-10-01T18:01:28.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}