Toyota’s 2022 U.S. auto sales down 9.6% on part shortages

FILE PHOTO: The Toyota logo is seen on a Camry Hybrid electric vehicle in New Delhi

(Reuters) – Toyota Motor Corp on Wednesday posted a 9.6% fall in its 2022 U.S. new vehicle sales as a shortage of semiconductor chips and rising costs hampered the Japanese automaker’s production earlier in the year.

The company said it sold 2,108,458 vehicles in 2022, down from 2,332,262 vehicles in 2021.

Toyota, which dethroned General Motors Co in 2021 as the top U.S. automaker, struggled to navigate through supply chain disruptions which forced it to cut its full-year production target in November.

Still, strong demand for its Corolla and Camry models helped the automaker post an increase of about 3.5% in its U.S. new vehicle sales for December.

(Reporting by Nathan Gomes in Bengaluru; Editing by Shounak Dasgupta)