U.S. gross sales surged by double-digit percentages for Toyota Motor Corp., Hyundai, Kia, Subaru, Mazda and Volvo final month from a 12 months earlier, with the Hyundai and Kia manufacturers each setting November information. However Ford Motor Co. and Honda reported drops for the month.
Deliveries jumped 43 p.c at Hyundai and 25 p.c at Kia.
“This was a terrific November for gross sales and particularly our lineup of eco-friendly automobiles,” Hyundai Motor America CEO Randy Parker mentioned in a press release Thursday. “Regardless of financial headwinds, we had been nonetheless capable of report an all-time retail and whole gross sales report in November.”
Ford gross sales, in distinction, had been down 7.9 p.c in November, the corporate’s third consecutive month with a year-over-year decline. Ford mentioned buyer orders have remained robust, but it surely delivered 15 p.c fewer utility automobiles and eight.7 p.c fewer F-Sequence pickups.
Nonetheless, for all of 2022, Ford’s gross sales are down solely 2.7 p.c, versus, 3.5 p.c for Hyundai-Kia and 35 p.c for American Honda, which posted a 6.1 p.c decline in November.
Gross sales fell 5.2 p.c final month for the Honda model and 14 p.c for Acura. Honda’s 4 top-selling nameplates — the CR-V, HR-V, Accord and Civic — all noticed declines 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 new automobiles for a lot of the previous two years.
Hyundai mentioned its stock has greater than doubled from a 12 months in the past, to 39,898 automobiles 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 p.c, whereas Lexus fell 4.3 p.c. Toyota automobile gross sales surged 42 p.c, together with an 80 p.c achieve for the Corolla, however the model offered 3.7 p.c fewer SUVs.
Mazda Motor Corp. mentioned November gross sales surged 31 p.c to 26,906 automobiles.
Subaru deliveries rose 52 p.c. Gross sales of the Subaru Crosstrek, Forester and Legacy greater than doubled from a 12 months in the past.
However American Honda posted a 6.1 p.c decline from November 2021. Gross sales fell 5.2 p.c for the Honda model and 14 p.c for Acura.
Volvo posted a 20 p.c achieve.
The remainder of the trade solely stories U.S. gross sales on a quarterly foundation.
U.S. light-vehicle deliveries had been anticipated to rise from November 2021 as stock shortages continued to ease. Greater rates of interest are rising prospects’ month-to-month funds, however dealerships are actually promoting fewer automobiles above sticker worth — 41 p.c in November vs. 50 p.c in July, in keeping with J.D. Energy and LMC Automotive.
“November outcomes show that car manufacturing is constant to enhance, with out there retail stock exceeding 1 million items for a second consecutive month and a bigger share of producers’ manufacturing being allotted to fleet prospects,” mentioned Thomas King, president of the information and analytics division at J.D. Energy.
“On the retail aspect, demand continues to exceed provide, as evidenced by continued power in transaction costs, retailer earnings, stock flip charges and minimal producer discounting. Nonetheless, as inventories and rates of interest rise, these metrics will present indicators of both moderation or decline.”
TrueCar mentioned November retail gross sales had been on tempo to be roughly even with a 12 months earlier however that fleet gross sales had been rebounding considerably from the low ranges brought on by manufacturing disruptions in 2020 and 2021. It projected a 68 p.c bounce in fleet gross sales from November 2021.
“Inventories are on tempo for a fourth consecutive month of double-digit will increase. Customers, nevertheless, proceed to face affordability challenges and excessive month-to-month funds, retaining many on the sidelines,” mentioned 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.”