The auto industry in January, as always, was challenged and a bit of a mixed bag, at least from the automakers that still report monthly sales. Some car companies were up and some were down, in spite of increased inventories and more incentive spending. In fact, truck incentives reached over $2500 per vehicle, up almost $1200 from a year ago, while spending on passenger cars was $1727, up $474 from January of 2022.
Toyota had a big month, up 25% from a year ago as inventory of the mainstay products were more plentiful. Volvo was also up 25%, and Mazda was up 32% on the strength of its new SUV models. In numbers we are not used to seeing, Hyundai and Kia were down from January of 2022.
January 2024 U.S. Auto Sales
Here are the sales leaders for January 2024, versus January 2023, from the car companies that still report sales monthly and a look at if the company was up or down:
Manufacturer |
January 2023 |
vs Jan 2022 |
1. Ford |
144,895 |
4% |
2. Toyota |
143,241 |
26% |
3. Honda |
84,574 |
13% |
4. Kia |
51,091 |
2% |
5. Hyundai |
47,543 |
9% |
6. Subaru |
44,510 |
0.3% |
7. Mazda |
30,270 |
32% |
8. Lexus |
22,512 |
10% |
9. Volvo |
9,586 |
25% |
10. Acura |
8,636 |
9% |
11. Lincoln |
6,985 |
20% |
12. Genesis |
4,289 |
9% |
Photo Credit: Ford.
