Toyota Corolla sales double year-on-year in October.
The U.S. new light vehicle market is estimated to grow by a solid 11.5% year-on-year in October to 1,185,280 units, the largest year-on-year gain since June 2021 (+17%). The SAAR is 15.28 million vs. 13.39 million in October 2022. Keep in mind October 2021 was heavily impacted by supply chain restrictions (-23%). The year-to-date tally now stands at 11.28 million units, off -12% over the same period a year ago. For once passenger cars evolve better than light trucks at +20.2% to 248,121 units and 20.9% share while SUV, pickup and van sales are up 9.5% to 937.159 units and 79.1% market share.
Among groups still sharing monthly data and in order of sales, Toyota Motor (+27.7%), Subaru (+31.9%) and Mazda (+29.7%) all vastly outrace the market with fantastic year-on-year gains. Hyundai-Kia (+8%) and Volvo (+8.9%) are in positive but less than the market, whereas Ford Motor (-10.1%) and American Honda (-16%) sink. Brand-wise, Toyota (+33.5%) reclaims the top spot off Ford (-9.9%) which was #1 a year ago. Honda (-16.8%) is in a rut, Hyundai (+6.8%) is shy and Kia (+11.9%) matches the market. In contrast Genesis (-17.9%), Lincoln (-13.8%), Acura (-9.1%) and Lexus (-3.7%) reverse.
Model-wise we have an estimated Top 10 this month, with the Ford F-Series (-17.4%) staying in the lead despite a ghastly loss, followed by the Chevrolet Silverado (+31.7%). The Toyota RAV4 (+40.4%) surges to third place above a shrinking Ram Pickup (-21.7%). Outstanding gains by the Toyota Camry (+67.9%) and Tacoma (+43.7%) with the GMC Sierra (+17.7%) also in great shape. The Tesla Model Y (+16.1%) and Nissan Rogue (+25.2%) round out the Top 10 while the Honda CR-V (-19.2%) struggles. Further down, the Toyota Corolla (+97.9%), Subaru Forester (+148%), Kia Sportage (+117.6%) and Ford Maverick (+123%) all deliver outstanding upticks.
Previous month: USA September 2022: Market up 9.5%, Chevrolet up 30% over Q3
Full October 2022 data for selected groups, brands and models and estimated Top 10 models below.