USA January 2024: Market edges up 4.5%, Toyota up 25.7%

Toyota RAV4 sales are up 54.9% year-on-year in January.

U.S. new light vehicle sales are estimated to grow 4.5% year-on-year in January to 1.09 million units, translating into a SAAR of 15.2 million according to Cox Automotive. This is to be compared with 15.8 million in December and could be a sign of things to come in 2024 with subdued growth. Among groups still reporting monthly figures, Toyota Motor Corporation surges 23.3% whereas Ford Motor matches the market at +4.5% and Hyundai-Kia drops -4.6%. American Honda returns a strong 10.3% year-on-year increase. Brand-wise, Ford (+4%) is above Toyota (+25.7%), with Honda (+12.7%) robust. Kia (-1.7%) and Hyundai (-8.6%) both struggle, Subaru (+0.3%) is flat while Mazda (+31.8%), Volvo (+24.6%) and Lincoln (+20.3%) shine.

Model-wise, still among those with available monthly figures, the Ford F-Series (-11.5%) pants. In contrast, the Toyota RAV4 (+54.9%), Honda CR-V (+31.6%) and Toyota Camry (+31.5%) surge ahead. The Ford Maverick (+98.4%) is well above its competitor the Toyota Tacoma (-54%), with the Honda HR-V (+49.2%), Ford Transit (+40.1%), Ford Escape (+38.2%) and Toyota Corolla (+35.6%) all impressive.

Previous post: USA Full Year 2023: Market up 12.3%, Ford F-Series #1 for 42nd straight year, Tesla Model Y up to #5

One year ago: USA January 2023: Market up 5.4%, Ford passes Toyota

Full January 2024 sales for selected groups, brands and models below.