U.S. auto gross sales sank within the first quarter for General Motors (GM), Toyota Motor (TM) and Honda Motor (HMC), however all beat gross sales estimates. GM inventory fell Friday as provide and manufacturing disruptions, that are limiting car gross sales, persist for now.
In the subsequent few days, Tesla (TSLA) is anticipated to report international Q1 deliveries.
U.S. Auto Sales To Sharply Slow
Industry large, the annualized tempo of latest auto gross sales in March will attain 12.7 million autos , J.D. Power and LMC Automotive estimated. That can be down by greater than 1 million models vs. February and down by greater than 5 million vs. March 2021.
Lower gross sales are primarily attributable to tight provides from the pandemic-fueled chip and components shortages. Demand stays sturdy, analysts mentioned. Meanwhile, the Russia-Ukraine conflict is including to provide pressures.
Here is how automakers carried out in Q1 2022 vs. Cox Automotive expectations. The outcomes present gross sales quantity, in addition to gross sales progress or decline vs. a yr in the past.
Toyota Motor Auto Sales
Q1 2022 gross sales estimate: 510,348 autos, down 15% vs. Q1 2021.
Results: Toyota offered 514,592 autos, a 14.7% decline. Sales of electrical and hybrid autos fell 4% in Q1, Toyota mentioned. But they made up greater than 1 / 4 (26%) of total gross sales, amid hovering fuel costs.
Toyota Motor inventory edged up 0.1% on the inventory market right this moment.
Q1 2022 gross sales estimate: 485,330, down 24% vs. Q1 2021.
Results: GM offered 512,486 autos, down 20%. The auto large offered 99 Hummer EVs within the mannequin’s first full quarter of gross sales. Globally, automakers are making a giant shift from fuel and diesel automobiles to electrical autos. Commercial gross sales in Q1 reached the best stage in almost three years, GM mentioned.
During final quarter, enhancing semiconductor provides gave a lift to manufacturing and truck share, GM mentioned.
“Supply chain disruptions are not fully behind us, but we expect to continue outperforming 2021 production levels, especially in the second half of the year,” GM North America President Steve Carlisle mentioned in a press release Friday.
Next week, GM and Ford will halt manufacturing at some Michigan vegetation. This week, Stellantis halted manufacturing simply throughout the river at its Windsor meeting plant, in Ontario, Canada. Ford tied the manufacturing hit to the continuing chip scarcity, whereas GM and Stellantis didn’t specify what elements had been in brief provide.
GM inventory fell 1.8% Friday.
Q1 2022 gross sales estimate: 431,123, down 17% vs. Q1 2021.
Results: Check again later.
Ford inventory misplaced 1.5%.
Q1 2022 gross sales estimate: 411,174, down 13% vs. Q1 2021.
Results: Check again Friday.
Stellantis inventory edged up 0.5%.
Honda Motor Auto Sales
Q1 2022 gross sales estimate: 252,205, down 27% vs. Q1 2021.
Results: Honda offered 266,418 autos, down 23%.
Honda inventory tilted 0.1% larger Friday.
Ford’s F-150 Lightning On Track
Despite the availability challenges hitting auto shares at massive, Ford’s F-150 Lightning stays on observe. Deliveries are set to start in spring, an organization spokesperson tweeted March 18.
The Lightning EV is arguably the largest car launch of the yr. It’s the primary all-electric model of Ford’s — and America’s — top-selling car, the F-150 pickup truck.
In January, demand for the electrical pickup truck hoisted Ford inventory briefly to a market cap above $100 billion.
Find Aparna Narayanan on Twitter at @IBD_Aparna.
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