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
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