DETROIT, Michigan: As it met the strong demand for cars and trucks, despite supply disruptions affecting the industry in 2022, General Motors reclaimed the top spot in US auto sales from rival Toyota.

In 2022, General Motors posted a 2.5 percent rise in sales to 2,274,088 vehicles, compared to Toyota's 2,108,458 cars and trucks.

Inventory shortages caused by surging material costs and ongoing chip supply shortages have affected worldwide auto production, keeping the prices of car and truck at high levels, with Asian brands being the most affected.

"Toyota is still among the tightest, when it comes to inventory," noted Cox Automotive senior economist Charlie Chesbrough, as quoted by Reuters.

Data released this week showed that in November, Toyota reduced its full-year production target, while sales of its SUVs fell 8.6 percent in 2022.

However, Toyota executives said there were positive signs and its inventory was building steadily.

"We are optimistic our inventory levels will continue to improve in the first quarter and for the remainder of the year," noted Andrew Gillel, senior vice president of automotive operations at Toyota, as reported by Reuters.

Meanwhile, rival brands, such as Hyundai, Kia, Mazda and Honda, all posted a decline in US sales.

According to Wards Intelligence data, new US vehicle sales in December was 1.26 million units, with an annual sales of 13.31 million.

Toyota executive David Christ said that affordability is a "very real issue," but the company expects demand to be robust this year.

Meanwhile, automotive marketplace TrueCar said that carmakers must begin incentivizing buyers, a trend that was paused during the COVID-19 pandemic.