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 Industry
Autos More Appealing
Consumers gave new cars better scores again this year for design, performance and more as mass-market brands kept gaining on premium lineups, JD Power found in an annual poll.
Read More →
Used EVs Defy Overall Market
While the used-car market saw three months of price declines or stagnation, the used EV segment did the opposite – rising for three straight months.
Read More →
Gone to the Dogs
A Stellantis brand decided to have some fun with one of its SUVs’ design to address growing emphasis on family pets.
Read More →
OEM Poll Sees Industry Evolution
Kerrigan Advisors’ survey of automakers finds that tariffs, technology, network tightening and other factors are poised to reshape auto retail.
Read More →
Luxe N.C. Dealerships Change Hands
A collection of Italian and English brand franchises were handed off to the owner’s friend in the business and include the Carolinas’ only Ferrari retail stores.
Read More →
Exposure Drives Interest in Chinese Cars
At a recent demonstration, consumers had the chance to ride in a Chinese-branded vehicle, a firsthand experience that improved their perceptions and purchase intent.
Read More →
Automotive Consumers Sink Further in Debt
Most financing metrics hit records in the second quarter as more buyers locked themselves into long terms and high monthly payments.
Read More →
Agent Advocate
Rob Mancuso, who comes from a long line of auto dealers, values general agents’ place in the industry and makes a case for them taking an even bigger seat at the table.
Read More →
Driving Under Distraction
Though consumers gave higher marks to new vehicles in JD Power’s most recent initial-quality poll, high-tech interference worsened, pointing to craving for simplicity.
Read More →
Affordable New Cars a Thing of the Past
More than one out of five new vehicles sell for more than $60,000, according to Edmunds. That's up 7% compared to prepandemic 2019.
Read More →