Frigid temperatures, ice and snow may have kept some US buyers home last month, but those that ventured out ignored record January fuel prices to buy SUVs in large numbers, writes Bill Cawthon. Sales of sport-utility and crossover vehicles captured almost 30% of the US light vehicle market.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Overall, sales were good: the best January since 2001. Ward’s Auto reports Americans bought 1,122,845 cars and trucks, a 3.2% increase over last year’s start.
As happened in December, Chrysler was the only US carmaker to beat its 2003 mark. Based on daily sales rate (DSR), Chrysler posted a gain of 9.4%, while Ford declined by almost the same amount. GM was down 2% as record SUV sales weren’t enough to offset reduced demand for its cars.
Import brands grabbed almost 42% of the total market. Porsche hit a new January sales record. Toyota set a new January record and Nissan’s numbers were up 25.7%. Long-suffering Mazda had its best January since 1985. Thanks to its new GM-Daewoo-built duo, the Forenza and Verona, Suzuki posted a 62.5% jump in sales. Volvo sales were up 7%, as it passed Lincoln to start the year as Ford’s best-selling premium brand.
Honda set a new volume record even though it came up 3.7% shy of its 2002 DSR pace. Subaru was in the same boat, more volume but not enough to make up for the extra sales day last month.
Not everyone had reason to celebrate. Hyundai and Kia stumbled, dropping 16% and 11.6%, respectively. Mitsubishi and Isuzu continue to bleed sales.
The big German carmakers all missed their 2002 numbers. BMW blamed bad weather and low inventories for a 21.7% plunge. Audi took a 9% hit and Volkswagen’s sales were down 26% as its title of “best-selling European brand” passed to Mercedes-Benz, which had a comparatively mild 6.5% dip.
Ford’s F-Series pickup sold 61,979, enough to beat the combined sales of GM’s four full-sized trucks and make a good start on another year as America’s favourite vehicle.
With all the attention given to SUVs and pickups, it’s worth noting the bestseller among import trucks is Toyota’s new Sienna minivan, a position it has held since October.
All the top passenger car spots went to Japanese brands. The Toyota Camry and Honda Accord led the pack, while Nissan’s Altima took over third place. The best-selling American car was the Chevrolet Impala, which came in fifth.
Last January, Americans were worried about a pending war, rising fuel prices and an uncertain economic recovery. By December, probably encouraged more by incentives than economics, they had come through with one of the better automotive sales years on record.
This year, Americans are concerned about jobs and have been warned to expect record petrol prices this summer. There is also the possibility interest rates will rise, driving up the cost of financing and possibly having a negative impact on sales.
But a number of tempting new vehicles will debut in 2004 and leasing is making a comeback. There is still the potential for another good year.
 |
click on the table for an enlarged view |
 |
click on the table for an enlarged view |
 |
click on the table for an enlarged view |
