Perhaps it was the weather, after all. After dropping to just over 1.2 million sales in February, US auto sales came back strong in March, writes Bill Cawthon.
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Ward’s Automotive reports that automakers sold 1.45 million light vehicles last month, down just 0.3% from March 2002 and enough to shave a bit off the deficit in year-to-date (YTD) sales.
Detroit automakers lost ground in March, as the Big Three’s share of the overall market dropped below 60% again. Based on manufacturers’ numbers, the imports’ share of the passenger car segment increased to almost 56%. In total volume, GM was down 6.89%, followed by Chrysler at 6.90% and Ford at just under 9%.
Toyota set a new March sales record as the Camry not only passed the Honda Accord for the month, but took over the lead in YTD sales. After a dismal performance in February, when Lexus dropped to fourth among luxury marques, Toyota’s premium brand zoomed back to the top of the heap in March and finished the quarter second only to BMW.
Though it lost the top car spot, the Accord still had a good month, helping American Honda set a new sales record. Acura sales lagged, but Honda sales were up over 25% as the Civic, Pilot and Element joined the Accord in posting strong performances.
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By GlobalDataOther brands with record months were Subaru and Kia. Suzuki had its best month in 16 years. Mercedes missed a record month, but posted its best first quarter in the US.
Nissan’s Infiniti division set a record, selling 10,000 vehicles in March. That’s the best month ever for Infiniti, whose new G35 and FX models have given the brand new life. Nissan itself wasn’t so fortunate: every model except the Altima, 350Z and Murano posted double-digit drops.
Even declining sales can’t dislodge Ford’s F-Series from the top of the chart. Chevy’s Silverado enjoyed a 12.9% increase over March 2002 but still came up short. The Dodge Ram improved 14% and held on to third place; followed by the Camry, Accord and Taurus.
DaimlerChrysler is still the minivan leader. While others’ sales declined, Chrysler’s family haulers made hefty gains, capturing 43.8% of the market.
Thumbing its nose at the doubters, the Cayenne was Porsche’s bestseller in its debut month, taking almost 40% of brand sales.
Overall, SUV sales remained strong, claiming just over a quarter of light vehicle sales. However, sales of domestic SUVs are declining. Whether it’s due to gas prices, the economy, public opprobrium or the new CUVs, Americans purchased 8.6% fewer Detroit SUVs in the first quarter of 2003.
When it comes to the profit-packed land yachts, the picture is even worse: sales are down 21.9% among models on the market at least a year. At the same time, sales of smaller, less profitable, SUVs are up over 10%.
In spite of evidence incentives are losing their punch, GM is playing the card one more time, offering record financing and rebate options on almost every model.
We’ll see if it works.
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