US Auto Sales Increase in November, Led by Japanese Manufacturers and Tesla, as Detroit's Big Three Lose Share

Moomoo News Global joined discussion · Dec 5, 2023 04:26

In November 2023, U.S. new vehicle sales totaled 1,242,376, which was a 2.6% increase from October 2023 and an 8.8% increase from November 2022.

US Auto Sales Increase in November, Led by Japanese Manufacturers and Tesla, as Detroit's Big Three Lose Share

While passenger car sales decreased by 1.7% to 250,316 units, resulting in a 20.0% market share, SUV and truck sales increased by 11.8% to 992,060 units, making up an 80.0% market share. Overall, the vehicle seasonally adjusted annualized sales (SAAR) for November 2023 was 15.54 million units, compared to 14.36 million units one year ago.

Detroit's Big Three is losing market share as EVs are still growing steadily.

In terms of specific companies, $General Motors (GM.US)$ ' monthly sales increased by 2.6%, while $Ford Motor (F.US)$ 's sales decreased by 0.4%, and $Stellantis NV (STLA.US)$ ' sales were down 3.5%.

$Tesla (TSLA.US)$ 's estimated sales increased by 17.6% from the previous year to 51,100 units, giving it a 4.1% market share in the US. The startup company $Rivian Automotive (RIVN.US)$ saw an 85.1% increase in sales to 4,717 vehicles, Polestar's sales were up 22.3% from the same month last year to 1,128 vehicles, and $Lucid Group (LCID.US)$ Motors saw a 29.5% increase in sales to 492 units.

Among Japanese companies, $Toyota Motor (TM.US)$ 's sales increased by 17.8%, Nissan's sales increased by 0.6%, $Honda Motor (HMC.US)$ 's sales increased by 32.8%, Mitsubishi's sales decreased by 1.2%, and Mazda's sales increased by 3.0%.

For Korean companies, Hyundai's sales increased by 11.4%, and Kia's sales increased by 2.9%.

Among German companies, VW's sales increased by 47.2% in November, but BMW's sales decreased by 1.6%, and Mercedes-Benz's sales increased by 8.3%.

Automotive inventories are increasing.

Although sales are still recovering from last year, the total inventory in November increased by 9.6% year-on-year to approximately 2.319 million vehicles. The days in inventories are 47 days (44 days last month and 34 days in November last year).

Regarding each manufacturer, General Motors has 58 days of inventory, a YoY increase of 6.9% to approximately 465,000 units. Ford's inventory days were 79, a YoY increase of 9.2% to approximately 458,000 vehicles. In comparison, Japanese manufacturers have lower inventories, with Toyota and Honda having 31 and 38 days of stock, respectively.

Source: MarkLines

By Moomoo News Calvin

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