USA February 2023: Ford (+22.8%), Kia (+23.7%), Volvo (+36.4%) shine in market up 8.7%
Ford Maverick sales are up 89.4% year-on-year in February.
Based on data by TD Ecomonics, the US new light vehicle market gains 8.7% year-on-year to 1.14 million units as supply shortages thaw. This leads to 2.18 million sales over the first two months of the year, up 5.3% over the same period in 2022. The Seasonally Adjusted Annualised sales Rate (SAAR) is up 5.3% year-on-year to 14.9 million vs. 14.15 million in February 2022, 15.9 million in February 2021 and 17.04 million in February 2020, so we are still way below pre-pandemic levels. The average daily selling rate stands at 47,347 vs, 43,568 in February 2022. For once passenger car sales are up year-on-year at +4.6% but light trucks continue to be ultra dominant at +9.7% and an overwhelming 80% market share vs. 79% in February 2022.
Looking at automotive groups that still report monthly, Toyota Motor (-2.4%) is back above Ford Motor (+22%) for just 2,332 sales but declines year-on-year. Hyundai-Kia (+16.2%) is very strong while American Honda (-1.4%) edges down. Brand-wise, Ford (+22.8%) stays above Toyota (-3.6%) with Honda (-3%) lukewarm and Kia (+23.7%) outstanding. Hyundai (+8.8%) matches the market as does Mazda (+8.8%). Below, Volvo (+36.4%) and Acura (+11.9%) shine.
Among models with monthly sales data available, the Ford F-Series (+21.5%) showcases splendid health and ends the month just below 55,000 sales. In contrast the Toyota RAV4 (-12.7%) is weak this month. The Toyota Camry (+55.3%) defies the wobbliness of passenger car sales while the Ford Explorer (+100.4%) shoots up. The Ford Bronco (+112%), Transit (+146.3%), Kia Sportage (+276.2%), Mazda CX-30 (+85.2%), Ford Maverick (+89.4%) and Expedition (+124.3%) stun with spectacular year-on-year upticks. The Toyota Crown and Mazda CX-90 make their first appearance in the charts.
Previous month: USA January 2023: Market up 5.4%, Ford passes Toyota
One year ago: USA February 2022: Hyundai (+8.5%), Mazda (+8.3%), Genesis (+45%) ignore market down -10%
Full February 2023 data for selected groups, brands and models below.
