Toyota sales were down 19% for the first half of the year and they fell 18% in June. That allowed GM to pass the Japanese company and retake the crown as the top-selling automaker in the U.S., a title GM lost last year.

Stellantis, formerly Fiat Chrysler, posted a 16% sales decline. Honda’s second-quarter sales fell by more than half, with the company blaming “severe” supply chain issues. Nissan sales dropped nearly 39% for the quarter, and Hyundai posted a 23% sales dip.

Most automakers were reporting sales figures on Friday, but Tesla is likely to do so this weekend, and Ford won’t report until Tuesday.

Edmunds predicted that nearly 3.5 million new vehicles were sold last quarter in the U.S., 20.8% fewer than the same period a year ago. Edmunds expects inventory shortages to continue for the foreseeable future, frustrating auto buyers.

“The majority of consumers who are purchasing vehicles in these conditions are either in a financial position where money is less of a consideration or are doing so out of absolute necessity,” said Edmunds analyst Jessica Caldwell.

Toyota’s Hollis said that demand remains exceptionally strong, especially for more efficient gas-electric hybrid vehicles, and the company’s electric vehicle, the BZ4X. Hybrids and plug-ins accounted for about 27% of Toyota’s sales in June, following a rising trend, he said.

But supply problems are limiting inventory and sales, Hollis said. The company started June with 9,000 vehicles on dealer lots and ended the month with about 8,500, he said. Vehicles are being sold within 36 hours of arriving at dealers.

Hyundai announced that it would stop selling its Accent and Veloster small cars in the U.S., furthering the trend of automakers cutting car models as SUVS have become America’s favorite body style.

Randy Parker, head of sales for Hyundai Motor America, said he expects the chip shortage to gradually get better this year, predicting a 30% production increase over last year.

The company’s main electric vehicle, the Ioniq 5, is selling strong, with nearly 7,500 delivered in the second quarter, Parker said.

But smaller, fuel-efficient gasoline vehicles don’t appear to be faring as well. Hyundai’s Elantra compact car saw a 44% sales drop during the quarter, but is sales were halted for a time due to a safety recall issue.

Honda’s Civic sales fell 54% during the first half, and Toyota’s Corolla compact car sales dropped 25% from January through June.

“It is simply impossible given the latest production forecast to get to 15 million by the end of the year,” Cox Chief Economist Jonathan Smoke said during the roundtable discussion last week.

Despite lower sales, automakers are making more per sale in the low-supply, high-demand market where incentives aren’t needed to achieve sales. Demand is expected to stay put for the most part, but declining consumer confidence and the Federal Reserve’s move to increase the benchmark interest rate to curb inflation could dissuade some people from buying in 2022.

“There’s still a greater demand than what we have available,” Cox Senior Economist Charlie Chesbrough said.

“We still see this market as constrained. Clearly, the higher interest rates and the changing economy ... probably moves some folks out of the line that wanted to get a vehicle,” he said. “But, again, it’s still just we don’t have enough product for the people who do want to ... buy this year.”

Moving forward, it’s unclear how quickly automakers will want to rebuild inventories to get back to “normal” levels since they are doing well in this environment.

“We’re seeing more and more evidence that this tight-supply market, these high prices, these strong margins that the

OEMS are getting and strong dealer sentiment from all of this that they are still making good money suggests that the industry really isn’t in a massive hurry to get things back to the way they were,” he said.

Chesbrough did say “sales aren’t high enough now to keep revenues at a stable level, so they are suffering a little bit more than they were last year.”