Toyota, Kia, Honda and Hyundai Sales Soar After Pandemic Slip
The Toyota brand led the latest signs of a recovering and booming market with the automaker putting its preliminary seasonally adjusted, annualized rate of sales at 17.8 million.
The Toyota brand led the latest signs of a recovering and booming market with the automaker putting its preliminary seasonally adjusted, annualized rate of sales at 17.8 million.
Toyota Motor Corp, American Honda, Hyundai, Kia and Mazda saw sales soar in April 2021, compared to all-time lows the same month during the pandemic shutdown.
The Toyota brand led the latest signs of a recovering and booming market with the automaker putting its preliminary seasonally adjusted, annualized rate of sales at 17.8 million.
Toyota Motor saw volumes escalate to record highs in April. Volume soared by 183% to 239,311 while volume for Toyota brands jumped 183% to 212,283 and Lexus volume rose 177% to 27,028. Deliveries of cars, crossovers, and SUVs more than tripled in April, with Highlander sales quadrupling to 27,679.
A blemish on this glowing picture appears as depleted inventory. Toyota Motor reports car and light-truck inventories fell 21% since March (and 46% from April 2020) to 205,285. And the Toyota division enters May with just a 19-day supply of light trucks.
American Honda shares a similar story, recording three-digit volume hikes. The automaker reports volume rose 165% at Honda and 226% at Acura. American Honda cites record monthly light-truck demand for the two brands, at 98,828 units, and a 125% percent surge in car deliveries as the driving force behind its April sales record of 156,482.
Its Honda brand also posted record results hitting a volume record of 140,023. The HR-V and Passport light-duty trucks set monthly records while the CR-V and Pilot also hit April highs.
Hyundai Motor Group experienced a 146% boost in retail volume, allowing it to achieve an overall gain of 128%. The automaker sets total April deliveries at 77,523. However, fleet shipments took a sharp dive, down 27% and representing just 3% of April sales.
The supply shortage has crept into Hyundai Motor America, which reported U.S. dealers entered May with 123,046 cars and light trucks in stock. This figure is down 13% from 141,425 heading into April and down 27% from April 2020.
Kia sales volumes also skyrocketed in April, up 121% to 70,177. The total marks the company’s second consecutive monthly record. Genesis sales jumped 309%, with the GV80 SUV outpacing the combined volume of the company’s three luxury sedans.
Two cars, the new K5 and the Forte, and three crossovers, the Telluride, Sportage and Seltos, set records for April volume.
Mazda saw a sharp increase in April sales; selling 31,117 units, up 184% over April 2020. Subaru set an April sales record with 61,389 deliveries, marking a 101% volume increase over April 2020. However, the company warns of the chip shortage impacting future sales. Volvo also saw a surge, selling 11,036 vehicles for a 186% increase over April 2020.
Ford will release its April results Tuesday. The remaining automakers only release quarterly sales numbers.
Originally posted on Auto Dealer Today
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