Supply chain constraints and inventory shortages continue to plague many automakers, and the sales volume numbers for September show a mixed picture of improvements and setbacks.
Toyota, Hyundai, and Kia all saw US sales increase in September, which could signify that inventory shortages are easing.
Hyundai saw sales volume increase 11% to 59,465 in September, a record for retail volume. For the last nine consecutive months, the company has prioritized retail deliveries over fleet business to maximize profits and leverage its constrained new car and light-truck inventories. The company said its US inventory stood at 24,919 units at the end of the month, up from 19,209 at the end of August.
Randy Parker, CEO of Hyundai Motor America, said a strong product lineup was helping the company generate month-over-month sales increases, with “plenty of cars in the pipeline for the remainder of the year.”
Kia saw a 6.4% increase in volume last month, reporting 56,270 units sold and setting a record for the month. The number marks the second consecutive monthly gain year over year, and the company cites its expanded crossover lineup and new electric vehicles as benefits.
“Building upon record September and third-quarter sales, we’re optimistic that Kia will see a strong fourth quarter as well,” said Eric Watson, Vice President of Sales Operations at Kia America.
Hyundai Group’s upstart luxury brand Genesis reported an 0.8% sales increase in September, posting 4,907 deliveries for the month. That marks year-over-year sales growth for 22 straight months for the brand but also shows that sales growth is slowing from the double-digit pace it saw in the first half of the year.
Meanwhile, Stellantis reported a 6% decline in its third-quarter volume, citing those same “challenging industry supply constraints” as the culprit.
The company’s biggest brand, Jeep, posted an 18% decline, while Ram dropped 4%. And although Chrysler and Dodge’s volume rose 39% and 22%, respectively, Fiat fell 48%, and Alfa Romeo saw a 24% decline.
Toyota had its first monthly sales increase since July of last year. Volume rose 17% last month, but to balance the scales, Lexus saw a 4.3% decline, reaching eight straight months of declines year over year. The company reported ending the month with a 20-day supply of cars and light trucks in the US.
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