MENU
SEARCHHonda 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
AutoPayPlus says extra-long auto loans are trapping consumers and threatening the dealer trade-in cycle, and that the industry is leveraging the wrong tools to combat high MSRPs.
Read More →
Senior vice presidents of the company's agent and dealer channels chosen to support general agents and help auto dealers with sales and performance.
Read More →
A handful of states see franchise growth through June, while EV sales per store boost overall business in U.S.
Read More →
Performance and profits start with people chosen and led the right way.
Read More →
Kerrigan metrics show there’s plenty of demand, though many sellers are waiting to pull the trigger.
Read More →
Company is providing a fully integrated F&I administration model to Nissan Extended Services North America’s dealer network.
Read More →
Despite incentive spending not keeping pace with deliveries volume, consumers make their purchases ahead of tariffs impact.
Read More →
Hybrid solution combines benefits of reinsurance and dealer-owned warranty companies.
Read More →
Understanding how it plays into inventory risk management is an important consideration.
Read More →
Kerrigan Advisors poll shows percentage of retailers expecting lower profits, valuations is on the rise.
Read More →
