Ford Motor Co. Sees Sales Rebound in July
Ford Motor Co. saw U.S. sales rebound sharply in July for the second consecutive month while Toyota Motor Corp. and Honda Motor Co. saw sales dip for the 12th consecutive month and Hyundai and Kia deliveries for the fifth-straight month.
Overall, the U.S. market fell 12% in July, the 12th consecutive month that volume dropped year over year, reported LMC Automotive.
Retail sales remained under 1 million units for the third consecutive month in July, LMC reported. Meanwhile, the seasonally adjusted annualized rate of sales hit 13.3 million, down from 14.81 million in July 2021 but slightly higher than June’s 13.22 million.
LMC reduced its 2022 U.S. light-vehicle outlook to 14 million, from 14.3 million in June. The cut reflects continued supply constraints and uncertain demand that may weaken as inflation and rising interest rates take hold.
Ford Motor said its July U.S. sales volume jumped 37%, with Ford division deliveries rising 36% and Lincoln deliveries rising 65%.
Crossover and utility vehicle sales surged 70% while pickup truck sales rose 20%. However, over 50% of Ford’s retail sales in July came from previously placed orders.
Ford also has reopened retail orders for the Bronco Sport, Edge, Explorer and Ranger, after restarting retail orders for the F-150 and Transit a few weeks ago.
Toyota Motor saw sales drop 21% with deliveries down 21% at Toyota and 23% for Lexus.
General Motors reported that it lost over 20,000 units in July, being outsold by Toyota for the first time since January.
Still, several Toyota brands posted double-digit declines: Corolla, off 29%; Camry, down 24%; and the Highlander, down 49% percent. RAV4 sales dropped 8.3% to 37,749. But Tacoma deliveries rose 1.4% to 23,917 and Tundra deliveries rose 66% to 10,694.
Toyota ended July with 104,790 vehicles in stock — 14,258 at dealers and 90,532 in port or transit. These numbers mark a 16-day supply.
Honda volume fell 47% with Acura down 59% and the Honda division off 46%. Honda saw sales of its most popular brands weaken: Accord, down 56%; Civic, off 67%; CR-V, down 31%; HR-V, down 69%; and its Pilot down 27%.
Sales dropped 12% at Hyundai and 11% at Kia in July. Just four Hyundai models — Accent, Santa Cruz, Tucson and Veloster — posted higher deliveries. And only the Sorento and Sportage crossovers generated gains for Kia.
Combined sales of electric vehicles, hybrids and plug-in hybrids rose 12% at Hyundai and 86% at Kia, the companies reported.
Hyundai ended July with 14,784 light vehicles in U.S. inventory, down from 17,922 in June.
Subaru reported a 17% drop in July deliveries with just three models posting gains: Crosstrek, Impreza and WRX/STI.
July volume fell 29% to 23,393 at Mazda, which reported closing July with just 6,868 in inventory, or a 6-day supply.
Volvo reported a 41% drop in July volume, it’s 11 consecutive month of declines. Genesis reported a July volume of 5,203, up slightly from 5,180 in 2021.