January 2022 U.S. auto sales: Market slides 9%; Ford flat; Hyundai sales rebound; Toyota, Kia slips again as chip shortage weighs on output

January 2022 U.S. auto sales: Market slides 9%; Ford flat; Hyundai sales rebound; Toyota, Kia slips again as chip shortage weighs on output

U.S. new-auto gross sales slid 9 per cent to just above 1 million past month, LMC Automotive mentioned as the microchip scarcity and other provide-chain disruptions continue to upend business stockpiles.

It was the weakest January since 2014, LMC stated, but the smallest proportion drop considering the fact that the market turned unfavorable in the summertime of 2021. Hyundai snapped a five-month shedding streak with a 10 percent acquire in January U.S. product sales whilst quantity dropped for the sixth straight month at Toyota Motor Corp. and Kia.

The seasonally modified, annualized level of gross sales came in at 15.2 million, in close proximity to the substantial stop of forecasts  14.1 million to 15.3 million  from J.D. Power-LMC, Cox and TrueCar.

It really is the strongest SAAR studying considering that June’s 15.4 million tempo, and is up from 12.71 million in December but down sharply from 16.84 million in January 2021.

LMC mentioned preliminary details indicates that retail revenue totalled roughly 900,000 last month, pushing fleet shipments to the most affordable stage due to the fact the pandemic begun. Fleet deliveries have also been shedding share considering the fact that October.

Toyota Motor’s profits dropped 5.1 percent with deliveries down 6.4 p.c at the Toyota division, but soaring 5 percent at Lexus, ending 4 straight regular monthly declines at the luxurious brand. All round, Toyota Motor’s car revenue dropped 9.6 p.c even though light-weight truck deliveries slipped 3 p.c.

4 of the Toyota’s brand’s 5 largest sellers generated reduced previous thirty day period: Corolla, down 20 p.c Camry, off 9.7 p.c RAV4, down 6.1 per cent and Tacoma, down 19 p.c. Highlander revenue edged up 2.3 percent.

Toyota Motor claimed it finished January with a 19-working day provide of automobiles and gentle vehicles, or 123,686 models, with 18,345 in seller stock and 105,341 at ports.

Ford Motor Co. reported January quantity was flat, even though retail revenue rose .8 per cent. Deliveries rose 1.4 per cent at the Ford division but slumped 26 per cent at Lincoln. Gross sales at Ford’s luxury manufacturer have now dropped eight consecutive months. The automaker’s combined SUV and crossover deliveries rose 8.5 %, offsetting a 4.3 p.c fall in pickup gross sales.

The organization reported gross motor vehicle stocks stood at 202,000 at the stop of January  or a 34-day supply  down from 247,000 in December and 418,000 in Jan. 2021.

American Honda reported over-all profits dropped 20 %, with Acura declining 33 percent and Honda Division down 19 percent. Acura auto profits fell 45 percent and trucks were being down 28 p.c. Honda Division’s automobile revenue fell 23 p.c with trucks off 16 percent.

Honda stated its supply situation “continues to be fluid” but anticipates that “inventory will boost as February progresses.”

At Hyundai, retail deliveries rose 18 percent, offsetting zero fleet shipments very last thirty day period. The company set a January document with 47,872 deliveres largely behind four models  Location, up 70 p.c Tucson, up 64 p.c Palisade, up 12 percent and Ioniq, up 51 percent  that also posted document deliveries for the month.

Hyundai stated it finished the month with 18,060 cars and light-weight trucks, down from 21,420 at the shut of December and 151,930 at the conclusion of Jan. 2021.

Subaru of America’s profits fell 4.8 %. 

Kia volume slid 5.5 p.c to 42,488 primarily on sharply weaker Soul, Seltos and Forte deliveries.

Profits dropped for the fifth consecutive thirty day period at Mazda with January quantity falling 17 per cent to 21,079.

Volvo deliveries dropped 13 percent, and Genesis racked up its 14th straight attain with January revenue increasing 29 per cent to 3,638 at the rear of deliveries of the new GV70 crossover.

The rest of the field reviews U.S. sales quarterly.