May 24, 2022

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Automotive forever

FEBRUARY U.S. AUTO SALES: Seasonally adjusted sales rate falls to 14.15 million

The seasonally altered U.S. automobile profits amount fell to 14.15 million in February, down from 15.2 million in January but nonetheless ahead of the costs posted for the previous five months of 2021, in accordance to figures introduced Wednesday by Motor Intelligence.

The intently watched month-to-month results fell in line with analysts’ SAAR estimates that ranged from 14.1 million to 14.4 million. Marketplace authorities have envisioned continued weak revenue results as the industry grapples with minimal inventories triggered by the global microchip scarcity and several offer chain interruptions.

Amid the automakers that documented February final results — like Ford Motor Co., Hyundai Motor Co., Toyota Motor Corp. and Honda Motor Co. — deliveries fell 12 % to 559,549 vehicles, according to the Automotive News Research & Information Center. The effects are incomplete due to the fact numerous other automakers, this kind of as Typical Motors, Stellantis and Volkswagen, only report quarterly success.

This is a recap of outcomes from organizations that reported this 7 days.

Ford Motor Co. revenue fell 21 p.c in February. That features a 21 p.c drop at the Ford division and 23 percent decline at Lincoln.

Gross sales of its all-critical F-Series pickup line plummeted 30 p.c as most of its nameplates posted 12 months-over-12 months declines.

The automaker said it took in a lot more than 72,000 new retail orders in February and that 33 percent of its revenue last month arrived from these who had positioned earlier orders.

“Our new merchandise are conquesting from competitors at a level that is 26 percentage factors bigger than Ford in general, which includes Maverick, Mustang Mach-E, Bronco and Bronco Sport,” Andrew Frick, vice president, Ford Gross sales U.S. and Canada, explained in a statement.

Toyota drops 11%

Toyota Motor North America on Tuesday reported February U.S. light motor vehicle gross sales fell 11 per cent to 162,587. Sales for the Toyota model fell 12 p.c, when sales for Lexus were being off 5.6 %.

Motor vehicle revenue plummeted 30 p.c, when pickup gross sales fell 13 percent, irrespective of a 16 percent attain in Tundra income.

The Toyota brand’s crossover and SUV profits rose 3.7 percent, mostly dependent on a sturdy efficiency by the Highlander. Lexus-branded crossover and SUV sales fell 3.7 percent.

Electrified car or truck gross sales dropped 13 per cent.

Toyota Motor’s inventory stood at 110,674 automobiles — a 16-working day supply — at the close of February, down from 123,686 a month back.

It experienced 93,307 Toyota-manufacturer vehicles, down from 103,634 a month back. It also documented inventory of 17,367 Lexus-model autos, down from 20,052 a month back.

Honda deliveries plunge

American Honda’s U.S. mild motor vehicle sales fell 21 per cent amid inventory struggles introduced on by the chip shortage and winter season storms. People figures contain a 21 percent slide at the Honda division and 20 per cent fall at Acura.

At Honda, only the Accord sedan and HR-V crossover posted gross sales gains in comparison with the similar period of time a month back. The HR-V’s 13,340 profits in February marked the nameplate’s 13th-consecutive month-to-month history, Honda stated in a statement.

The automaker said 60 % of autos en route to sellers are pre-marketed, a sign of ongoing strong demand from customers.

Mazda posts 8.3% gain

Mazda North The united states documented an 8.3 p.c maximize in sales final month with 28,166 motor vehicles sent. That marked the automaker’s second-greatest February U.S. sales effectiveness.

Mazda’s gains have been mainly driven by its crossovers, including a 36 p.c product sales increase for the CX-5, its best-volume nameplate, and a 21 per cent enhance for the CX-9. Each vehicles posted finest-ever February outcomes

Mazda’s car or truck product sales, even so, fell 32 percent.

The automaker reported CPO gross sales also fell 32 % as opposed with the same period a year back to 3,562.

Korean models post robust outcomes

Korean affiliates Hyundai, Kia and Genesis claimed strong U.S. deliveries for February despite ongoing retail headwinds that induced reduce forecasts as automakers struggle to rebuild depleted inventories.

Those headwinds, prompted by creation cuts stemming from the ongoing semiconductor scarcity, failed to reduce Hyundai from recording an 8 p.c achieve in U.S. deliveries to 52,424. Product sales of the Tucson compact crossover led the way, soaring 37 percent to 12,928 models. The new Ioniq 5 EV produced 2,555 deliveries.

“Our the latest advertising attempts with Tucson and Ioniq 5 have worked very well to produce awareness in aggressive segments,” mentioned Randy Parker, senior vice president of national profits for Hyundai Motor America. “We intend to maintain the momentum and marketplace share gains heading.”

Hyundai noted it didn’t record any fleet income. The automaker reported U.S. inventories stood at 18,621 models at the end of the thirty day period in contrast with 18,060 at the stop of January.

Affiliate Kia posted a 2.3 % obtain to 49,182 deliveries in February as EV sales grew.

“Kia continues to outpace the field and ‘charge ahead’ with the shift toward electrified cars as revenue of our vary of electrical, hybrid and plug-in hybrid versions continued to crack information and now make up 13-percent of our product sales,” Eric Watson, vice president of income operations for Kia America, stated in a assertion.

“With to start with-thirty day period profits of the all-electrical Kia EV6 exceeding 2,100 units we are confident that even additional buyers considering their very own change to electrified autos will now think about Kia.”

Luxury manufacturer Genesis mentioned it generated its very best February outcomes ever as deliveries rose 45 % to 3,482 motor vehicles.

Former forecasts

Just before the success arrived in this week, deliveries of new autos in February were being estimated to tumble 10 to 11 % from a year before, according to forecasts from Cox Automotive, TrueCar, J.D. Electricity and LMC Automotive. Retail revenue are projected to fall 5.7 % from February 2021 to 922,100, J.D. Power and LMC stated.

February is traditionally one particular of the year’s slower revenue months even when inventory is abundant. But a lack of chips has remaining minor to decide on from on dealership tons, and sector experts don’t anticipate that will modify at any time before long.

“With retail inventory on tempo to finish a fourth consecutive month beneath 900,000 units and ninth consecutive thirty day period down below a person million models, the new-auto supply situation is not displaying indications of around-phrase enhancement,” Thomas King, president of the info and analytics division at J.D. Electricity, reported in a statement. “Hence, income in February are getting identified by the range of cars delivered to dealerships fairly than reflecting true shopper need.”