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US Auto Trade Down 8% Since 2019

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US Auto Trade Down 8% Since 2019

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It’s time for an additional one in every of our quarterly US auto gross sales stories. No different media outlet compares US auto trade traits with as a lot historical past and depth as we do in these. First, earlier than moving into the automaker comparisons for the second quarter of 2023 versus the second quarters of 2019, 2020, 2021, and 2022, be aware that I simply printed our US EV gross sales report for Q2 2023 as nicely, and mixing core information from that report and this one, it seems that full electrical autos (BEVs) accounted for 7% of US auto gross sales final quarter. That’s on the again of rising Tesla gross sales (which we’ll speak about extra right here) and in addition rising EV gross sales from a handful of legacy automakers.

I’ll begin with the large overview chart first, however I’ll focus on this one in additional element down on the backside simply earlier than the embedded interactive variations of this and different charts. The massive image view from this chart, although, is that many automakers noticed their gross sales drop quite a bit from 2019 to 2020 amidst the COVID-related financial shutdowns, bounced again quite a bit in 2021, however have since declined once more and are nicely under their Q2 2019 numbers. That mentioned, there are some who’ve bucked the pattern, together with Ford proper on the high of the gross sales chart, which has seen its gross sales climb from 2020 to 2021 to 2022 to 2023. No different automaker has seen constant (maybe gradual however constant) gross sales progress from 2020 onward aside from EV star Tesla and Chrysler (which doesn’t have many gross sales to its title nowadays). One might take into account this nice information for Ford, however a part of the rationale for that is that Ford didn’t appear to have as huge of a post-COVID bounce-back in Q2 2021 as different automakers.

Simply trying on the leaders within the second quarter of this yr, you may see that Ford, Toyota, and Chevrolet are in a decent race for first place for the time being, and particularly these first two. Honda is by itself tier in between these three and Nissan. Most notable for the electrical car revolution is that Tesla is within the high 10, however not close to the extent of the massive canines but — it’s down in ninth.

Taking a look at how the general market has modified previously 4 years, it’s been a little bit of a bouncy journey. As you may see under, 2019 gross sales had been nicely above 2023 gross sales (the primary chart under reveals that Q2 2023 gross sales had been almost 370,000 items decrease than Q2 2019 gross sales). Then, 2020 introduced the COVID pandemic and automotive gross sales collapsed — Q2 2023 gross sales had been greater than 1.1 million items larger than Q2 2020 gross sales. Naturally, Q2 2021 noticed an enormous bounce-back in gross sales, and Q2 2023 gross sales pale compared, ending greater than 786,000 items under Q2 2021 gross sales. Are we attending to a extra “regular,” steady interval once more? Possibly, possibly not. There’s the EV revolution simply getting underway, in any case, and doubtlessly extra financial challenges across the nook. What we will say from the previous yr or so is that Q2 2023 auto gross sales had been 360,000+ items larger than Q2 2022 gross sales, a ten% bump yr over yr.

Now that is the place it actually will get enjoyable. Within the remaining charts, you may have a look at automaker-specific modifications in gross sales quarter over quarter and going again to Q2 2019.

Honda’s the massive winner in comparison with Q2 2022, however Chevrolet, Nissan, Tesla, and Ford all noticed sturdy progress quantity clever. Specializing in proportion progress, small EV startups Rivian and Lucid rose to the highest — on the again of a small variety of gross sales in 2022.

Wanting again two years, Tesla has seen essentially the most gross sales progress, up greater than 88,000 items (106%). Ford and Chrysler are additionally celebrating once more.

Humorous sufficient, Toyota was doing so badly in Q2 2020 that it left quite a bit on the desk. Its gross sales rose essentially the most, quantity clever, in that point interval. Tesla, second within the chart for this metric, was first when it got here to proportion change, up a whopping 431%! Maybe extra shocking, Chrysler was up 255%! Mitsubishi additionally noticed a surprisingly huge increase.

If we go all the best way again to 2019, we will see that Tesla has had essentially the most enchancment in these 4 years, with gross sales rising by 213%, or 116,000+ items — from 54,700 gross sales to 171,000 gross sales. Total, the US auto trade declined 8% in that timeframe. Greater than half of auto manufacturers noticed their gross sales drop. If you happen to take away Lucid and Rivian (since they weren’t delivering autos to prospects in Q2 2019), 10 auto manufacturers had a rise in gross sales in that timeframe and 18 auto manufacturers noticed a drop in gross sales.

That’s the story, however if you wish to have extra enjoyable with the charts, embedded variations of a few of them are under.


 


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Tesla Gross sales in 2023, 2024, and 2030


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