The US new vehicle sales decreased by 0.9% in Q3 2022 compared to the same quarter of last year. The industry sold 3,387,027 new vehicles.
These were the main highlights:
- General Motors led again after losing the crown to Toyota in Q3 2021. Last quarter, the company sold 552,883 vehicles, up by 24%. The main drivers of growth were the Chevrolet Traverse (+135%), Chevrolet Colorado (+92%), and Chevrolet Malibu (269 units in 2021 to 21,630 units in 2022). Couple Silverado 1500/Sierra 1500 was down by 46%.
- Toyota lost the crown as its sales dropped 7% to 526,017 units. The double-digit drops of Toyota Highlander, Corolla, 4Runner, Sienna, and Venza contributed to this negative result. Still, the RAV4 continued to be the country’s second best-seller, counting for 19% of the group’s total.
- Ford continued to lead the model ranking with the F-150 ahead, and its sales up by 4%. However, its total growth (+16%) was driven by the Explorer (+27%), Escape (+35%), and the Bronco (+235%), the second, third, and fourth best-sellers respectively.
- The whole Honda-Acura lineup posted double-digit drops. This means that it was the group and brand to record the highest market share lose between the quarters. The company blames the supply chain problems, but it is also true that the model changeover of the HR-V and Civic is still having a negative impact.
- Nissan was another loser during the third quarter. Nissan brand and Infiniti sales combined fell by 23% to 154,086 units, being outsold by the Volkswagen group. While the Altima, Frontier and Rogue Sport posted strong growth, it was not enough to offset the big declines of the Rogue (-32%), Sentra (-44%), and Kicks (-49%).