Sales Rolling As New Car Sales Jump 17% In August - The Detroit Bureau

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New vehicle sales rose again, jumping 17% in August, right about in the range where analysts believed the number would settle. However, if it hadn’t been for hurricanes in Florida and California the numbers could have been higher.

March sales fall — New vehicle sales jumped 17% in August despite weather issues.

Plenty of makers enjoyed increases, including Ford Motor Co. which reported a 2% increase in sales for case thanks to a hefty 17.7% increase in sales of the company’s electric vehicles.

Sales of the Ford Mach-E grew 61% during August, leading the increase in EV sales. Ford also said sales of hybrid sales increased by 31%, but sales of its vehicles with internal combustion engines dropped by 2%, the company reported.

Asian carmakers chalk up sales

Meanwhile, Asian carmakers, led by Honda, reported another month of steady sales growth during August. Honda, Toyota, Subaru, Mazda, Kia, Hyundai and Genesis all reported gains for the month, according to the monthly sales reports.

American Honda reported a 56.7% increase in sales as both the Honda and Acura brands continued to rebuild their inventories. Sales of Honda passenger cars climbed by nearly 80%.

F-150 Lightning and Mustang Mach-E — Ford’s 2% sales increase last month came, in large part, due to a 17% rise in EV sales.

Toyota Motor North America reported U.S. sales of 194,708 vehicles, up 14.8% on a volume basis. Toyota Division sales for the month totaled 170,913 vehicles, up 15.6% on a volume basis. Lexus Division sales for the month totaled 23,795 vehicles, up 9.4% on a volume basis, according to the company’s monthly sales report.

Subaru of America Inc. reported its 13 consecutive month of increased sales with 56,407 vehicles sold for August, a 12.5% increase compared with last year’s 50,126 units. SOA also reported year-to-date sales of 410,888, a 15.6% increase versus the same period in 2022.

Mazda North American Operations reported total August sales of 30,174 vehicles, an increase of 18.7% compared to August 2022. Year-to-date sales totaled 244,586 vehicles; an increase of 27.6% compared to the same time last year.

Genesis posts big gain

2023 Genesis Electrified GV70 front 3-4 REL — South Korean luxury brand Genesis saw its August sales jump 27%.

Genesis, the South Korean luxury brand, reported a 27% year-over-year increase in sales during August.

Kia America’s record-shattering sales streak continued as the brand posted best-ever August sales of 72,147 units, the second highest monthly total in company history and a 9% increase over the previous record set in 2022. August also marks the fourth straight month Kia sales surpassed the 70,000-unit mark.

Sales of Kia’s battery-electric vehicles were up 100% over August 2022 while the brand’s lineup of rugged and capable utility vehicles increased 14% year-over-year. Kia’s retail-only performance of 67,592 units represents 9% growth over the same period last year.

Hyundai, after a run of double-digit sales increases, reported a 1% sales increase for August.

Randy Parker, CEO of Hyundai Motor America, noted, “Consumer demand for our eco-friendly lineup remains strong and saw growth of 80% year-over-year.”

Overall, analysts predicted a strong sales month as inventories continued to build and prices showed signs of moderating in the face of consumer resistance. Carmakers also began raising incentives and other promotions in an effort to spur sales and capture market share.