RTTNews | Jan 4, 2022 01:36PM EST

13:36 Tuesday, January 4, 2022 (RTTNews.com) - Japanese auto giant Toyota Motor (TM) has dethroned its US counterpart General Motors (GM) as the America's top-selling automaker in 2021. This marks the first time since 1931 that General Motors has lost its dominance in the country.

GM said Tuesday it sold 2.22 million vehicles in the U.S. in 2021, down by 12.9% from 2.55 million units sold last year. In comparison, Toyota sold 2.33 million vehicles in the U.S. last year, up by 10.4% from 2.11 million vehicles last year.

"Despite a second consecutive year of challenges, TMNA focused on delivering an exceptional customer experience, and we remain optimistic as our electrification strategy further evolves," said Jack Hollis, senior vice president, Automotive Operations Group, TMNA. "Thanks to our phenomenal dealers and world-class purchasing and manufacturing teams, our inventory continues to improve and we're preparing to introduce 21 all-new, refreshed or special edition vehicles in 2022."

During a call with reporters, Hollis said, "Yes, we did surpass General Motors in sales. But to be clear, that is not our goal, nor do we see it as sustainable."

GM has been the largest seller of vehicles in the U.S. for nearly a century, since it surpassed Ford Motor in 1931. As recently as 2005, Toyota was No. 4 in US sales, with GM, Ford and DaimlerChrysler occupying the top 3 spots, with a combined US market share of 57%.

Toyota division sales for the year gained 10.3% to 2.03 million vehicles, while Lexus division sales rose 10.7% to 304,476 units.

Meanwhile, Toyota's sales for December dropped 30.2 percent to 174,115 vehicles from 249,601 vehicles last year.

TM is currently trading at $199.36, up $13.07 or 7.02%, on the NYSE.

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