Car Sales Up at Multiple Brands as Honda Continues Skid
Honda points to continued supply issues as overall industry inventory improves.
Most carmakers reporting sales saw increases in October.
IMAGE: Getty Images/bigtunaonline
Asia-based carmakers reported October U.S. sales Tuesday, Toyota, Hyundai, Kia and Mazda experiencing gains and Honda sales falling.
Mazda led the way in sales increases, posting a 30% jump, followed by Toyota, whose sales rose 28% for its second straight monthly gain.
Kia’s sales increased 12%, while Hyundai’s rose 6.8%, electrified vehicle sales lending a big boost. Kia’s EV volume increased 101%.
Honda sales fell 16%, as it blamed supply-chain and shipping slowdowns for limiting its inventory. This was its 15th straight month of sales declines.
Monthly sales reports will come later from Subaru, Ford and Volvo. Other carmakers report sales on a quarterly basis.
While forecasts call for overall October U.S. light-vehicle sales to increase along with gradual inventory thaw, full-year results are expected to reflect a decline from 2021.
READ MORE: September Car Sales Up Over 2021
Originally posted on Auto Dealer Today
More Showroom
California Sees Quarterly Gains
California’s new-vehicle market saw a boost in hybrids in the third quarter and its first overall quarterly market gain of the year.
Read More →
New-Vehicle Prices Stay Put
Affordability pressures and model availability shaped new-vehicle sales in September, according to an analysis by Kelley Blue Book.
Read More →
EV Buyer Consideration Shifts
What drives American consumers to purchase an electric vehicle is shifting as the question moves away from Should I?' to 'Which features and experience do I want to have?'
Read More →
Year-to-Date Auto Sales Holding Their Own
A forecast through August shows that automakers have shifted strategies to keep deliveries and revenues up despite tariffs and other economic challenges.
Read More →
Slow to Robo
Ten years of polling consumers shows autonomous vehicles’ profiles have risen considerably, but even more people now want at least some level of control if they go that route.
Read More →
Dealers a Little Down
A third-quarter Cox Automotive survey finds them in a mixed mood, bummed by fallen customer traffic but encouraged by better profits, costs and EV interest.
Read More →
European EV Sales Skyrocket
The EV market on the continent held strong in July with almost 25% of new-car sales being fully electric units, a stark contrast to the U.S., where EV sales declined about 42%.
Read More →
Mitsubishi Unveils U.S. Plan
The automaker announced a strategy that includes an expanded lineup and dealership presence, along with more ‘rugged’ and electric models.
Read More →
Used Lots Getting the Business
Many consumers are seeking out the units to save money, and the demand – higher in July than normal – is keeping supply limited and prices up.
Read More →
Used Market Stabilizes
The Carfax Used Car Index noted a major drop in used-vehicle price increases in July after several months of hikes.
Read More →