USA March/Q1 2026: March sales down -14%, Ram (+20.1%) back in shape, Hyundai & Kia hit records

Ram pickup sales are up 24.8% over Q1.

The March new US light vehicle market brakes -14% year-on-year to just 1.39 million units, with retail volumes down -16% and fleets off -2.3% according to GlobalData. Fleets account for 18.4% of the total light vehicle volume, up from 16.6% in March 2025. The Q1 tally is down -6.2% to 3,684,000. The SAAR for March is at 16.2 million vs. 17.8 million in March 2025 and 15.7 million in February. Q1 sales slow to 15.5 million annualised vs. over 16 million in 2024 and 2025. Keep in mind March 2025 is a high comparison base as customers rushed to purchase vehicles in the wake of the implementation of US tariffs.

Severe weather, the end of federal EV tax credits, record retail prices and economic uncertainty all contributed to a weak result in the US over the quarter. EV sales stumble -27% to 216,399 over Q1 according to Kelley Blue Book, that’s a 5.8% market share down from a peak of 10.6% over Q3 2025. The average incentive per vehicle is up $165 to $3,325 according to JD Power and GlobalData, while EV discounts average $11,258, down $940 year-on-year. 

In the OEM charts, General Motors (-9.6%) suffers but stays on top ahead of a stable Toyota Motor (-0.1%). Ford Motor (-8.7%) also struggles just ahead of Hyundai-Kia (+2.6%) hitting record levels and American Honda (-4.2%). Stellantis (+4%) confirms its recovery with a third consecutive quarterly increase.

Brand-wise, Toyota (+0.3%) is stable and easily stays on top ahead of Ford (-9.1%) and Chevrolet (-7.9%) both in difficulty. Honda (-5.1%) and Nissan (-7.7%) don’t fare much better and round out the Top 5. Below, both Kia (+4.1%) and Hyundai (+0.9%) post Q1 records. Note Kia sales have increased for six consecutive quarters. Ram (+20.1%) is the best performing brand near the top. Subaru (-15%) endures an 8th straight month of decline in March. Similarly Mazda (-14.4%) is down for a fourth consecutive quarter and Volkswagen (-16.1%) also.

Looking at models, the Ford F-Series (-16%) is in difficulty but still a distant leader above the Chevrolet Silverado (-0.1%), stable which is a good performance in the current context. The Honda CR-V (-3.8%) advances to #3 and #1 SUV as its archenemy the Toyota RAV4 (-48.1%) plunges to #13 due to its generation changeover. The Ram Pickup (+24.8%) is back in shape thanks partly to the return of V8 models. The Toyota Camry (+11.3%) surprises with a year-on-year gain, as more affordable sedans may be back in fashion in a record price context. The Camry (and not the RAV4) is Toyota’s best-seller over a quarter for the first time since late 2017. 

Previous post: USA February 2026: Acura (+17.3%), Lincoln (+12.2%) impress in negative market (-3.8%)

One year ago: USA March/Q1 2025: General Motors soars +17% in market spurred by last minute sales rush

Full Q1 2026 Top 15 OEMs, Top 48 All brands and Top 309 All models below.