U.S. gross sales at Toyota Motor Corp., Subaru, Mazda, Hyundai and Kia rose by double-digit percentages final month from a yr earlier, with the Hyundai and Kia manufacturers each setting November data. Honda reported a drop for the month.
Deliveries jumped 43 % at Hyundai and 25 % at Kia.
“This was a terrific November for gross sales and particularly our lineup of eco-friendly autos,” Hyundai Motor America CEO Randy Parker stated in an announcement Thursday. “Regardless of financial headwinds, we have been nonetheless capable of report an all-time retail and whole gross sales report in November.”
The outcomes come amid rising manufacturing and stock throughout the trade after the microchip scarcity and different provide chain snags restricted automakers from with the ability to meet demand for brand spanking new autos for a lot of the previous two years.
Hyundai stated its stock has greater than doubled from a yr in the past, to 39,898 autos on the finish of November. That is up from 31,529 a month earlier and 17,096 in November 2021.
At Toyota, model gross sales rose 12 %, whereas Lexus fell 4.3 %. Toyota automobile gross sales surged 42 %, together with an 80 % achieve for the Corolla, however the model offered 3.7 % fewer SUVs.
Mazda Motor Corp. stated November gross sales surged 31 % to 26,906 autos.
Subaru deliveries rose 52 %. Gross sales of the Subaru Crosstrek, Forester and Legacy greater than doubled from a yr in the past.
However American Honda posted a 6.1 % decline from November 2021. Gross sales fell 5.2 % for the Honda model and 14 % for Acura.
American Honda’s gross sales at the moment are down 35 % on the yr. In November, Honda’s 4 top-selling nameplates — the CR-V, HR-V, Accord and Civic — all noticed declines.
Ford Motor Co. will launch its outcomes on Friday. The remainder of the trade stories U.S. gross sales on a quarterly foundation.
U.S. light-vehicle deliveries have been anticipated to rise from November 2021 as stock shortages continued to ease. Increased rates of interest are growing clients’ month-to-month funds, however dealerships at the moment are promoting fewer autos above sticker worth — 41 % in November vs. 50 % in July, based on J.D. Energy and LMC Automotive.
“November outcomes show that car manufacturing is continuous to enhance, with obtainable retail stock exceeding 1 million items for a second consecutive month and a bigger share of producers’ manufacturing being allotted to fleet clients,” stated Thomas King, president of the info and analytics division at J.D. Energy.
“On the retail aspect, demand continues to exceed provide, as evidenced by continued energy in transaction costs, retailer income, stock flip charges and minimal producer discounting. Nevertheless, as inventories and rates of interest rise, these metrics will present indicators of both moderation or decline.”
TrueCar stated November retail gross sales have been on tempo to be roughly even with a yr earlier however that fleet gross sales have been rebounding considerably from the low ranges brought on by manufacturing disruptions in 2020 and 2021. It projected a 68 % leap in fleet gross sales from November 2021.
“Inventories are on tempo for a fourth consecutive month of double-digit will increase. Shoppers, nonetheless, proceed to face affordability challenges and excessive month-to-month funds, maintaining many on the sidelines,” stated Zack Krelle, trade analyst at TrueCar. “To take care of gross sales momentum, producers seem like shifting a number of the new provide to non-retail gross sales.”