The Automotive Monthly Metals Index (MMI) fell by 3.4% for this month’s reading, as auto sales continued to slump in the face of ongoing supply and inventory constraints.
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US auto sales
In the U.S. market, General Motors reported Q4 2021 sales of 440,745 vehicles, or down 43% year over year.
Despite the decline, the automaker indicated the semiconductor supply shortage improved in the fourth quarter.
“GM entered the quarter with record low inventories; however, the company’s fourth-quarter production and wholesale deliveries were up significantly from the third quarter as semiconductor supply conditions improved,” GM said in a release.
However, Toyota outsold GM in the U.S. in 2021, marking the first time GM did not hold the top sales spot since 1931, according to Reuters.
Toyota sold 2,332,262 vehicles in 2021 compared to 2,218,228 vehicles for GM.
Meanwhile, Ford reported its total December sales fell 17.1% to 173,740 vehicles. Truck sales fell 15.5%. SUV sales dropped by 11.1%.
However, while still a relatively small part of the whole, Ford’s electrified vehicle sales jumped by 121.1% to 12,284.
In that vein, Ford announced a commitment to further expand its EV production. The automaker said it plans to nearly double production of the F-150 Lightning pickup to 150,000 vehicles per year at its Rouge Electric Vehicle Center in Dearborn, Michigan.