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    January 2022 National Auto Sales Results & Incentive Spending

    January 2022 sales are in the books, and it’s clear the microchip shortage continues to take its toll on sales nationwide.  It is hard to draw solid conclusions about the entire auto industry because many of the automakers only report sales on a quarterly basis.

    January 2022 Auto Sales


    Of those automakers who still report sales monthly, combined they sold 5.5% fewer vehicles this January, than in January 2021.  Industry analysts who try to track total sales predict just over a million vehicles were sold last month, which would be the lowest January volume since 2014.

    Here are the automakers that reported January 2022 sales and how those compared to January 2021:

     
       Automaker           January 2022         VS January  2021
    1. Toyota  137,207  
      6%
    2.  Ford 136,705  
      1.4%
    3. Honda 68,232    18.5%
    4. Hyundai 47,872   10%
    5. Kia 42,488   5%
    6. Subaru   44,158    5%
    7. Mazda   21,079  16%
    8. Lexus 20,620 
    5%
    9. Volvo 7,110 
    13%
    10. Lincoln 5,740   26%
    11. Acura 5,717   33%
    12. Genesis 3,638   29%
     Incentive Spending Falls 37
     

    January 2022 Incentive Spending


    As we have discussed on the CarProUSA radio show, a lack of inventory means fewer incentive dollars being spent on factory incentives, and January of 2022 certainly proved that to be correct.

    Incentives were down 57% from the level of spending in January 2021.  BMW spent the most per vehicle at a little over $2,600 and Subaru spent the least at just under $900 per vehicle.  Percentage-wise, General Motors was down the most, spending 66% fewer dollars per car than the year ago levels.

    Here are the amounts spent in January 2022, and how that compares to January 2021, before the microchip shortage hit (in alphabetical order):

     
       Automaker           January 2022   VS January 2021
    BMW $2,607  
      50%
    Daimler-Benz $1,532 
      61%
    Ford $1,610     52%
    General Motors $1,519   66%
    Honda $1,320   43%
    Hyundai $928    59%
    Kia  $1,703   36%
    Nissan $1,519  
    60%
    Stellantis $1,928  
    58%
    Subaru $881   33%
     Toyota $2,562   59%
     VW $1,882   48%
     

    Photo Credit: Andy Dean Photography/Shutterstock.com