The management of Joe Bidenwith its ups and downs, ends with slightly positive numbers, in a difficult international context with the advance of Chinese brands that, little by little, are gaining ground in several markets.
Regarding the US domestic market, October closed with a 9.5% increase in new vehicle sales compared to the same month of the previous year, reaching a total of 1,327,307 units.
This improvement occurred despite a complicated context due to different issues ranging from climate issues – the number and intensity of hurricanes in the southern part of the country – as well as the political uncertainty that kept part of society in suspense during 2024, with until a change of candidate midway as happened due to Biden’s step back and the nomination of Kamala Harris.
If the cumulative figure for the year is taken, 0km sales totaled 13,095,740 units, which indicates an increase of 1.5% compared to the same period in 2023, according to preliminary data from private consulting firms.
For some analysts, October’s growth could have been driven because Last month it had two more business days than the same month last year.
The incentives that automotive companies have granted to encourage consumption are also pointed out as causes of this recovery, especially in the electric vehicle segment, one of the areas where the strongest pressures are present. Chinese brands. Lower interest rates benefited credit conditions.
These incentives, in general, had another reason on the part of local companies and it has to do with the advances of launches of 2025 models and the need to reduce the stocks of vehicles manufactured this year.
The analyzes carried out by specialists on the subject warn that the recovery could have been greater, Political uncertainty may have led many consumers to postpone purchasing decisions.
Light trucks continued to dominate the market, with an 11.7% increase in saleswhile passenger cars barely registered a growth of 1.0%, according to these private estimates.
At the end of September, there were 2.76 million vehicles in stock, of which 37% corresponded to 2025 models. Brands such as Dodge, Lincoln and Jeep have excess inventory, with 117, 108 and 100 days of inventory respectively .
Japanese brands such as Toyota, Lexus, Honda, Acura, Nissan, Infiniti, Subaru, Mazda and Mitsubishi maintain healthier inventory levels, ranging from 25 to 64 days. The shortage of hybrid vehicles is striking, the demand for which continues to increase.
General Motors led sales growth with a 23.9% improvement, followed by Ford with 12.3%, driven by F-Series sales. Stellantis, for its part, recorded an increase of 6.4%, marking its first positive result in 10 months. Tesla also joined the bullish trend with a 5.1% increase, its second consecutive month of year-over-year growth.
For its part, Toyota experienced a drop of 4.5%, its second consecutive month of decline, although sales of electrified vehicles remained strong, exceeding 50% of its total.
General Motors was the best-selling brand in October, followed by Toyota. In third place was Ford and fourth place was occupied by Honda.
Source: Ambito
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