US auto sales decline in the first quarter amid chip shortages

Major U.S. automakers said on Friday that domestic sales plummeted in the first-quarter of 2022 due to chip shortages and supply disruptions.

Toyota Motor Corp (NYSE: TM) outperformed General Motors C o (NYSE: GM) in the quarter but both the automakers posted decline in U.S. sales.

Toyota’s U.S. sales slid nearly 15% in the quarter over the prior-year period while GM said quarterly sales fell 20.1% to 512,846 vehicles.

GM said sales of some high-end trucks and SUVs, including the Chevrolet Suburban, GMC Yukon and Cadillac Escalade, rose during the quarter.