October gross sales climb regardless of financial uncertainty

Sufficient OEMs tallied double-digit quantity enhancements in October, tipping the stability of a still-struggling sector into the black after a flat Q3. This has been a catch-up yr for the business, and whereas studies from early on steered easing of provide constraints and enhancements in quantity, many automakers are solely now beginning to claw again quantity misplaced since provide shortages kneecapped the business shortly after the onset of COVID. 

That stated, full-year gross sales figures nonetheless do not paint a really rosy image:

— Ford, which confirmed indicators of restoration earlier within the yr, stays down 2.2% from a supply-ravaged 2021. The Blue Oval’s volumes slipped greater than 10% in October however the firm hopes to regain floor within the the rest of This autumn. 

— Honda’s outcomes present the alternative development. The corporate’s YTD gross sales are down greater than 35%, however October was solely off by 16%. Each are nonetheless unhealthy, however Honda’s development line is no less than headed in the appropriate course.

— The identical is true of Hyundai (down 8% for the yr however up practically 7% in October) …

— Kia (down 5.1% for the yr however up practically 12% in October) …

— Mazda (down practically 18% up to now in 2022 however up practically 30% over the identical month final yr …

— And Subaru (down 10% in 2022 however up greater than 30% in October).  

— Toyota actually knocked it out of the park in October, with volumes up practically 28% (representing greater than 40,000 items) for the month. Toyota’s down simply over 12% YTD, however it’s doubtless nonetheless the chief in U.S. gross sales volumes, because it was on the finish of Q3 when its lead over Common Motors was simply over 91,000 items. (GM solely studies gross sales quarterly.)

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