Automotive News - September 7, 2020 - 20

20 * SEPTEMBER 7, 2020

Supply crunch
still hampering
sales recovery

Foreign factories prove handy in August
Laurence Iliff
liliff@crain.com

Sales of cars and light trucks continue to recover from the deep
downturn this year but were held
back in August by tight inventories.
In addition, the closely watched
numbers compared unfavorably
with year-earlier results because
August 2019 sales benefited from
the inclusion of the Labor Day
weekend.
The lingering effect of this year's
auto factory shutdowns, which halted supply for as long as eight weeks,
is still being felt in low dealership
inventories, even as shipments arrive daily. Toyota, Honda and Subaru all reported double-digit percentage declines on reduced inventory.
Faring better last month were
brands that are less dependent on
North American factories. Hyundai,
Kia and Mazda reported only single-digit declines in August, and
Volvo posted a sales gain for the
month. All four brands benefited
from adequate supplies of imported
models.
The overall industry outlook remained positive, despite economic
problems resulting from the pandemic and short-term inventory
shortages, analysts said.
"August sales demonstrate the industry's ongoing recovery since it
hit the bottom back in April, but the
numbers are still lower than normal," said Jessica Caldwell, a senior
analyst at Edmunds.
"August is typically one of the
strongest sales months of the year,
but dealers were limited in terms of
inventory, particularly for popular
segments like trucks," Caldwell said.
Ten auto brands reported U.S.
sales in August. The rest report
quarterly.
Toyota group sales fell 23 percent
last month, with the Toyota brand
down 25 percent on reduced inventories and Lexus down 9 percent.
Sales at American Honda, also
heavily reliant on North American
manufacturing, fell 22 percent. Subaru sales were down 17 percent on
tight crossover supply.
"The good news is we're starting to
see more inventory trickle in, so perhaps there will be better sales opportunities for consumers toward
the end of the year -particularly if
interest rates remain low, as expected," said Caldwell.

Inventory and incentives
Korean automakers have been
able to tap into a steady flow of vehicles from Korea, offsetting continuing weakness in their U.S. factory
output. Hyundai sales fell 8.4 percent last month and Kia's sales were
off 6 percent. Volvo, which imports
most of its U.S. vehicles, saw sales
rise 13 percent.
Inventory constraints hurt sales at
the Korean luxury brand Genesis in
August, which reported a 23 percent
decline. Regulatory delays for two
key vehicles also were a factor.
But the tighter supplies are help-

SAAR improves

U.S. light-vehicle sales,
seasonally adjusted annual
rate this year (sales in
millions)
January

17.05

February

17.02

March

11.39

April

8.74

May

12.08

June

13.23

July

14.53

August

15.18

Source: Motor Intelligence

ing to push up year-on-year transaction prices for popular vehicles.
ALG estimates the average transaction price was $36,327 last month vs.
$34,957 in August 2019.
"Vehicles are continuing to sell at
higher transaction prices when
compared to the prior year even
amidst the pandemic," said Eric Lyman, chief industry analyst for ALG.
"For the second month in a row,
since March, automaker revenue for
new-vehicle sales will be up month
over month by almost 6 percent."
While supply issues are pushing
prices up, more plentiful models are
benefiting from targeted factory incentives, fueling a volume recovery.
"This is a positive sign for the auto
industry as targeted incentive
spending by automakers continues
to fuel the recovery for new-vehicle
sales," Lyman said.
U.S. light-vehicle sales were forecast to fall about 20 percent in August, based on estimates from Cox
Automotive and LMC Automotive.

Healthy sign
Other good news was the improving seasonally adjusted annual rate
for sales, a key indicator of industry
health.
The seasonally adjusted annual
sales rate came in at 15.18 million,
Motor Intelligence said, slightly
above forecasts. It marks the fourthstraight month of recovery since the
anemic 8.74 million recorded in
April - but the rate is still well below the 17.1 million sales pace of
August 2019.
"The selling rate in August demonstrates that there is base-level demand for new vehicles and dealers
are finding ways to close deals and
deliver product," Cox Automotive
Senior Economist Charlie Chesbrough said. "The market is far from
recovered, but considering the overall economic conditions, it is
healthy."
Average incentives fell to $4,105
last month from $4,154 in August
2019, J.D. Power said. ALG estimates
incentives last month rose 5 percent
to $3,902 from $3,716 in August
2019. c
David Phillips contributed to this
report.

U.S. light-vehicle sales by nameplate, August & 8 mos.

Vehicles are domestic unless noted.

Table reflects U.S. sales for those manufacturers that report monthly
ILX ...................................
NSX..................................
RL/RLX (I) .......................
TLX ..................................
Acura car (D) ...............
Acura car (I) ................
Total Acura car .............
MDX.................................
RDX .................................
Total Acura truck ...........
Acura (D) ....................
Acura (I) .....................
Total Acura ..................
Accord (D) ......................
Accord (I)........................
Total Accord .....................
Civic (D) ..........................
Civic (I) ...........................
Total Civic ........................
Clarity (I)..........................
CR-Z (I)............................
Fit (D)..............................
Fit (I) ...............................
Total Fit ............................
Insight (D) ......................
Insight (I) ........................
Total Insight .....................
Honda car (D) ..............
Honda car (I) ...............
Total Honda car.............
CR-V (D) .........................
CR-V (I) ..........................
Total CR-V........................
HR-V ................................
Odyssey ...........................
Passport ..........................
Pilot .................................
Ridgeline ..........................
Honda truck (D) ............
Honda truck (I) .............
Total Honda truck ..........
Honda (D) ...................
Honda (I) ....................
Total Honda .................
American Honda car .......
American Honda truck.....
American Honda (D) .......
American Honda (I) ........
AMERICAN HONDA .........
G70 (I) .............................
G80 (I) .............................
G90 (I) .............................
Total Genesis car (I) .......
Accent (I) .........................
Elantra..............................
Ioniq (I)............................
Sonata..............................
Veloster (I) .......................
Hyundai car (D) ............
Hyundai car (I) .............
Total Hyundai car ..........
Kona (I)............................
Nexo (I)............................
Palisade (I).......................
Santa Fe ...........................
Tucson (I) ........................
Venue (I) ..........................
Hyundai truck (D)..........
Hyundai truck (I)...........
Total Hyundai truck ........
Hyundai (D) .................
Hyundai (I) ..................
Total Hyundai ...............
Hyundai Motor America car
Hyundai Motor America truck
Hyundai Motor America (D)
Hyundai Motor America (I)
Hyundai Motor America ...
Cadenza (I).......................
Forte (I)............................
K5 ....................................
K900 (I) ...........................
Optima .............................
Rio (I) ..............................
Soul (I).............................
Stinger (I) ........................
Kia car (D) ..................
Kia car (I) ...................
Total Kia car ................
Niro (I) .............................
Sedona (I) ........................
Seltos (I) ..........................
Sorento ............................
Sportage (I) .....................
Telluride ...........................
Kia truck (D) ................
Kia truck (I) .................
Total Kia truck ..............
Kia Motors America (D) ...
Kia Motors America (I) ....
Kia Motors America .......
Hyundai-Kia car ............
Hyundai-Kia truck ..........
Hyundai-Kia (D) ............
Hyundai-Kia (I) .............
HYUNDAI-KIA ................
Mazda3 (I) .......................
Mazda6 (I) .......................
MX-5 Miata (I) .................
Total Mazda car (I) .........

Aug.
2020

Aug.
2019

1,331
3
118
1,973
3,307
118
3,425
5,165
5,057
10,222
13,529
118
13,647
19,167
0
19,167
21,867
3,657
25,524
251
0
3,814
0
3,814
1,886
0
1,886
46,734
3,908
50,642
34,381
10
34,391
8,942
8,644
4,070
12,508
3,081
71,626
10
71,636
118,360
3,918
122,278
54,067
81,858
131,889
4,036
135,925
950
226
184
1,360
1,135
9,135
879
7,965
836
17,100
2,850
19,950
7,998
25
7,983
9,129
11,632
1,644
9,129
29,282
38,411
26,229
32,132
58,361
21,310
38,411
26,229
33,492
59,721
53
8,414
3,631
34
3,307
2,097
6,968
1,101
6,938
18,667
25,605
1,991
1,036
5,314
7,809
7,672
7,588
15,397
16,013
31,410
22,335
34,680
57,015
46,915
69,821
48,564
68,172
116,736
3,175
1,230
774
5,179

1,439
25
38
2,252
3,716
38
3,754
5,976
5,459
11,435
15,151
38
15,189
30,558
0
30,558
26,562
8,246
34,808
914
0
0
4,027
4,027
2,477
0
2,477
59,597
13,187
72,784
42,232
2,003
44,235
9,730
10,190
4,182
14,381
3,302
84,017
2,003
86,020
143,614
15,190
158,804
76,538
97,455
158,765
15,228
173,993
1,015
544
198
1,757
1,577
14,305
2,152
8,231
1,125
22,536
4,854
27,390
6,385
34
5,115
10,828
13,985
0
10,828
25,519
36,347
33,364
30,373
63,737
29,147
36,347
33,364
32,130
65,494
126
9,420
0
39
9,259
2,752
8,701
1,422
9,259
22,460
31,719
2,352
1,532
0
9,160
9,593
6,374
15,534
13,477
29,011
24,793
35,937
60,730
60,866
65,358
58,157
68,067
126,224
4,825
1,608
816
7,249

8 mos.
2020

8 mos.
2019

7,956
9,619
73
186
654
753
13,273
17,185
21,302
26,990
654
753
21,956
27,743
27,633
33,398
33,124
40,574
60,757
73,972
82,059 100,962
654
753
82,713 101,715
125,138 184,133
4
4
125,142 184,137
139,943 162,428
38,627
70,719
178,570 233,147
2,244
8,811
1
2
21,269
20,528
3
4,033
21,272
24,561
10,772
17,242
0
1
10,772
17,243
297,122 384,331
40,879
83,570
338,001 467,901
203,122 235,620
640
19,215
203,762 254,835
54,239
62,786
51,847
66,801
23,384
22,233
79,359
94,707
20,357
21,306
432,308 503,453
640
19,215
432,948 522,668
729,430 887,784
41,519 102,785
770,949 990,569
359,957 495,644
493,705 596,640
811,489 988,746
42,173 103,538
853,662 1,092,284
6,225
7,635
2,469
4,417
1,463
1,298
10,157
13,350
10,967
18,313
66,868 110,855
8,143
12,642
45,088
62,339
5,984
9,658
111,956 173,194
25,094
40,613
137,050 213,807
45,842
49,851
117
174
52,842
9,962
61,854
88,043
80,495
92,568
10,435
0
61,854
88,043
189,731 152,555
251,585 240,598
173,810 261,237
214,825 193,168
388,635 454,405
147,207 227,157
251,585 240,598
173,810 261,237
224,982 206,518
398,792 467,755
823
964
55,268
67,005
4,899
0
184
279
47,081
68,460
15,900
17,464
48,631
71,642
8,879
9,435
51,980
68,460
129,685 166,789
181,665 235,249
11,550
16,229
9,086
10,666
23,896
0
53,613
64,434
55,235
58,241
37,786
34,160
91,399
98,594
99,767
85,136
191,166 183,730
143,379 167,054
229,452 251,925
372,831 418,979
328,872 462,406
442,751 424,328
317,189 428,291
454,434 458,443
771,623 886,734
22,634
36,999
10,514
16,166
5,790
5,839
38,938
59,004

Aug.
2020

CX-3 (I) ............................
CX-30...............................
CX-5 (I) ............................
CX-9 (I) ............................
Mazda truck (D)............
Mazda truck (I).............
Total Mazda truck ..........
Mazda N.A. (D) .............
Mazda N.A. (I) ..............
MAZDA N.A. .................
BRZ (I) .............................
Impreza (D).....................
Impreza (I) ......................
Total Impreza ...................
Legacy .............................
WRX (I)............................
Subaru car (D) .............
Subaru car (I) ..............
Total Subaru car ............
Ascent ..............................
Crosstrek (I).....................
Forester (I) .......................
Outback............................
Subaru truck (D) ...........
Subaru truck (I) ............
Total Subaru truck..........
Subaru of America (D) ....
Subaru of America (I) .....
SUBARU OF AMERICA .....
ES (D) .............................
ES (I) ..............................
Total ES ............................
GS (I) ...............................
IS (I) ................................
LC (I) ...............................
LFA (I) ..............................
LS (I) ...............................
RC (I) ...............................
Lexus car (D)...............
Lexus car (I) ................
Total Lexus car .............
GX (I) ...............................
LX (I) ...............................
NX (I) ...............................
RX (D).............................
RX (I) ..............................
Total RX ...........................
UX (I) ...............................
Lexus truck (D) ............
Lexus truck (I) .............
Total Lexus truck ...........
Lexus (D) ....................
Lexus (I) .....................
Total Lexus ..................
86 (Incl. FR-S) (I) ............
Avalon ..............................
Camry (D) .......................
Camry (I) ........................
Total Camry......................
Corolla (D) ......................
Corolla/IM (I) ..................
Total Corolla .....................
Mirai (I)............................
Prius (I) ...........................
Supra (I) ..........................
Venza (I) ..........................
Yaris (D)..........................
Yaris Liftback (I) .............
Total Yaris ........................
Toyota car (D) ..............
Toyota car (I) ...............
Total Toyota car ............
4Runner (I) ......................
C-HR (I) ...........................
FJ Cruiser (I) ....................
Highlander (D) ................
Highlander (I) .................
Total Highlander ...............
Land Cruiser (I) ...............
RAV4 (D).........................
RAV4 (I) ..........................
Total RAV4 .......................
Sequoia ............................
Sienna ..............................
Tacoma ............................
Tundra..............................
Toyota truck (D) ............
Toyota truck (I) .............
Total Toyota truck ..........
Toyota (D) ...................
Toyota (I) ....................
Total Toyota .................
Toyota Motor N.A. car .....
Toyota Motor N.A. truck ...
Toyota Motor N.A. (D) .....
Toyota Motor N.A. (I) .......
TOYOTA MOTOR N.A. ......
60 series (I) .....................
90 series (I) .....................
Total Volvo car (I) ..........
XC40 (I) ...........................
XC60 (I) ...........................
XC90 (I) ...........................
Total Volvo truck (I) ........
VOLVO CAR USA ............

860
3,862
13,745
2,443
3,862
17,048
20,910
3,862
22,227
26,089
267
4,654
0
4,654
2,681
1,218
7,335
1,485
8,820
6,619
10,329
17,261
14,856
21,475
27,590
49,065
28,810
29,075
57,885
4,359
7
4,366
330
1,212
107
0
299
372
4,359
2,327
6,686
2,706
422
4,784
9,780
1,192
10,972
1,521
9,780
10,625
20,405
14,139
12,952
27,091
236
1,813
27,892
0
27,892
8,632
10,522
19,154
64
3,905
500
43
723
3
726
39,103
15,230
54,333
9,860
3,897
0
21,795
0
21,795
161
30,814
8,425
39,239
769
3,987
20,579
10,130
88,074
22,343
110,417
127,177
37,573
164,750
61,019
130,822
141,316
50,525
191,841
1,790
676
2,466
1,933
2,981
2,998
7,912
10,378

Aug.
2019

8 mos.
2020

8 mos.
2019

2,024
6,576
10,331
0
24,605
0
15,592
90,695 103,370
2,617
18,229
16,624
0
24,605
0
20,233
115,500 130,325
20,233
140,105 130,325
0
24,605
0
27,482
154,438 189,329
27,482
179,043 189,329
158
1,495
1,865
7,519
27,533
43,431
0
0
1
7,519
27,533
43,432
3,121
17,211
23,791
1,876
13,396
15,982
10,640
44,744
67,222
2,034
14,891
17,848
12,674
59,635
85,070
7,319
44,091
54,723
15,860
64,974
86,602
17,076
118,434 118,026
17,110
89,323 129,249
24,429
133,414 183,972
32,936
183,408 204,628
57,365
316,822 388,600
35,069
178,158 251,194
34,970
198,299 222,476
70,039
376,457 473,670
5,227
24,988
29,127
409
255
5,449
5,636
25,243
34,576
342
1,902
2,377
1,363
7,190
11,056
84
611
848
0
2
3
509
1,980
3,602
482
2,250
3,028
5,227
24,988
29,127
3,189
14,190
26,363
8,416
39,178
55,490
2,604
16,189
15,669
444
2,553
3,086
5,138
32,235
36,437
9,950
49,266
57,764
1,750
7,319
11,244
11,700
56,585
69,008
1,629
10,592
11,001
9,950
49,266
57,764
11,565
68,888
77,437
21,515
118,154 135,201
15,177
74,254
86,891
14,754
83,078 103,800
29,931
157,332 190,691
345
1,816
2,306
3,064
11,138
20,626
31,973
176,577 234,563
13
6
565
31,986
176,583 235,128
8,529
71,111 110,144
21,592
75,208 103,480
30,121
146,319 213,624
98
300
1,187
8,261
28,779
44,094
643
3,309
963
2
43
4
819
4,938
18,503
12
26
355
831
4,964
18,858
44,387
263,807 383,840
30,964
109,444 152,950
75,351
373,251 536,790
13,258
76,598
86,218
4,935
28,998
34,337
0
0
1
28,364
118,994 161,874
0
0
1
28,364
118,994 161,875
283
1,620
2,160
30,645
179,215 146,779
18,836
79,707 142,957
49,481
258,922 289,736
1,122
3,963
6,727
6,172
24,657
53,807
27,010
142,690 169,292
12,427
68,076
78,012
105,740
537,595 616,491
37,312
186,923 265,674
143,052
724,518 882,165
150,127
801,402 1,000,331
68,276
296,367 418,624
218,403 1,097,769 1,418,955
83,767
412,429 592,280
164,567
842,672 1,017,366
165,304
875,656 1,087,222
83,030
379,445 522,424
248,334 1,255,101 1,609,646
1,456
10,074
11,739
141
1,894
2,345
1,597
11,968
14,084
1,508
13,669
12,133
2,926
17,830
19,918
3,163
19,863
21,974
7,597
51,362
54,025
9,194
63,330
68,109

Note: (D) = produced in North America; (I) = imported to U.S.
Source: Automotive News Data Center
Automotive News - September 7, 2020

Table of Contents for the Digital Edition of Automotive News - September 7, 2020
