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Customer LoginsAugust 2013: a terrific automotive sales month, particularly for the Japanese
August US new car and light truck sales were not merely good - they were extraordinary. Consider the following:
- US customers purchased 1,503,151 new cars and light trucks in August, the highest monthly volume since May 2007
- This August total converts to an annual rate (SAAR) of 16.1 million, the highest monthly SAAR since November 2007
- The August year-over-year increase of 17% was the highest monthly change since June 2012
- Every manufacturer enjoyed a sales increase in August
- August Ford F-Series sales surpassed 71,100 (up 22%)
- August Toyota Camry sales reached 44,713 (also up 22%)
- The non-luxury compact crossover segment continued to flourish, with deliveries of the CR-V, RAV4, Rogue, Forester, Outlander Sport and CX-5 all up by more than a third
Just two months ago, Polk raised its 2013 US new vehicle registration forecast from 15.3 to 15.5 million units, but now it may have to be raised again. Polk will wait for the September results before making a decision, but if the robust results of August carry over into September, look for another change in the 2013 forecast.
While the August sales results were extraordinary and welcome after the challenges of the past few years, the results were not spread evenly across all the players in the industry. August more or less belonged to the Asians and, in particular, the Japanese. Consider the following:
- Asian share of the US market in August jumped to 47.3% from 45.6% a year ago, while domestic and European shares both declined
- Toyota, Honda, Nissan, Mazda, Mitsubishi and Subaru all had year-over-year gains of more than 20% with Subaru climbing 45%
- Seven of the 10 most popular models in August were Asian models (the only exceptions were the three domestic large pickups), including four of the top six
- Three of the top six models in the industry during August were Hondas, including the Civic, Accord and CR-V
- Prior to August, all three domestic manufacturers had gained market share year-to-date, but with August included in the year-to-date totals, only Ford remains up (16.0% versus 15.6% a year ago); GM and Chrysler now are even with a year ago
As the second largest new vehicle market in the world, the US is important for every global OEM. It is particularly important for GM, Ford and Fiat/Chrysler since it is their home market (or partially their home market).
Tom Libby is manager, loyalty practice and industry analysis, IHS Automotive
Posted 10 September 2013