October U.S. auto sales: Ford, Toyota, Honda, Hyundai, Kia drop again

Ford Motor Co.’s U.S. product sales fell 4 per cent in Oct, marking the automaker’s fifth straight month-to-month decline, though deliveries at Toyota Motor Corp., Honda Motor Co., Hyundai and Kia fell for the 3rd consecutive month as tight chip materials and other bottlenecks continue to undermine light-weight-automobile output and supplier stockpiles.

The seasonally altered, annualized fee of product sales came in at 13.1 million, Morgan Stanley analyst Adam Jonas reported Wednesday, near the higher stop of forecasts — 11.8 million to 13.5 million — from Cox Automotive, J.D. Electrical power/LMC Automotive and TrueCar. The SAAR hit 16.44 million in Oct 2020 and experienced fallen each and every month considering the fact that hitting a 2021 significant of 18.5 million in April.

Jonas mentioned business sales fell 23 p.c final month, also in the selection of forecasts, with light vans accounting for 81 p.c of quantity.

Product sales dropped 3.3 percent at the Ford division and 17 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} at Lincoln. Ford’s biggest sellers also posted declines, led by the F-sequence pickup, down 4.7 p.c. Overall, Ford Motor Co. explained truck income fell 7 per cent though crossover and SUV deliveries rose 13 p.c, aided by new types these types of as the Mustang Mach-E, Bronco Sport and Bronco.

Ford claimed gross stock continued to grow past month, increasing by 7,000 about September amounts to overall 243,000 at the stop of Oct. 

Toyota Motor, which has been compelled to reduce global output in new months, claimed income dropped 29 per cent in October, with quantity off 31 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} at the Toyota division and 15 p.c at Lexus.

It was the third straight monthly, and major, drop in Toyota manufacturer volume and 2nd consecutive every month decrease at Lexus.

The Toyota brand’s largest sellers all posted double-digit declines: Camry, off 40 per cent RAV4, down 39 per cent Tacoma, off 38 per cent Highlander, down 19 p.c and Corolla, off 61 p.c.

Toyota Motor finished October with 111,224 Toyota and Lexus vehicles in vendor shares and transit, up from 98,724 at the close of September, a spokesman mentioned.

Oct volume dropped 24 per cent at American Honda, with deliveries falling 23 percent at the Honda division and 27 per cent at Acura.

Like Toyota, some of the Honda brand’s most important sellers posted noteworthy declines for the thirty day period: Accord, off 20 p.c Civic, down 39 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} CR-V, off 22 p.c and Pilot down 19 percent. Only two Honda designs posted gains: the Insight, up 41 percent to 1,939, and the HR-V, up 57 per cent to 11,667.

Deliveries slipped 1.1 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} at Hyundai, although the enterprise stated retail volume rose 1 percent to an Oct file of 52,767.

A Hyundai spokesman said the firm’s vendor inventory stood at 19,894 at the finish of past thirty day period, off 26 p.c from 26,717 at the shut of September and down 86 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} from 142,616 at the finish of Oct 2020.

Kia deliveries dropped 7.2 per cent to 52,067, with 82 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} of the company’s inventory offered for the duration of the month.

“Irrespective of ongoing source chain issues and chip shortages, we count on our obtainable provide and strong customer curiosity will assist us have a potent finish to the 12 months,” Eric Watson, vice president for sales functions at Kia The us, said in a assertion.

Subaru noticed deliveries skid for the fifth straight thirty day period guiding a 40 per cent fall in volume previous thirty day period.

Each and every Subaru nameplate but the WRX/STI posted a decrease, with profits of the top-promoting Forester plunging 67 {a78e43caf781a4748142ac77894e52b42fd2247cba0219deedaee5032d61bfc9} to 4,820.

Thomas J. Doll, CEO of Subaru of America, blamed the most up-to-date success — the firm’s sharpest drop of the calendar year — on “a severe lack of semiconductor chips and other key parts that instantly impacts our automobile output.”

Genesis explained deliveries rose 403 percent very last thirty day period to 5,300, with the luxury brand’s two crossovers as soon as yet again combining to easily outsell blended revenue of the firm’s a few sedans.

Mazda documented reduced product sales for the next straight thirty day period, with Oct deliveries down 14 per cent.

Volvo explained late Tuesday it will release Oct results on Wednesday. The rest of the industry releases revenue on a quarterly foundation.

Eleanore Beatty

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