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  • National Auto Sales:  Chip Shortage Causes Incentives To Slump

    National Auto Sales:  Chip Shortage Causes Incentives To Slump

    The microchip shortage has hurt many automakers so far this year, but Ford has arguably been hit the hardest with July 2021 sales falling 31% from July 2020.  Bear in mind last July America, and in particular the auto industry, was reeling from assembly plant shutdowns due to Covid-19.

    The news for the automakers that report monthly was actually good.  Genesis was way up given new products like the GV80 SUV.  Mazda, Toyota, Lexus, and Kia were all up over 30%.

    New-vehicle inventories continued to fall in July 2021. A J.D. Power spokesperson estimated dealers had 932,000 cars and lights trucks for retail sale at the end of July, compared with 3.1 million in June 2019.

    Even with the big drop off from Ford and Lincoln, this group collectively was up almost 8%.

    July 2021 Sales


    Here are the July 2021 sales numbers for those automakers that report on a monthly basis, and how they did as compared to July 2020:

     
    1. Toyota   193,855      33%
    2.  Honda 120,692    7%
    3. Ford 114,680         31%
    4. Kia  70,099    34%
    5. Hyundai 68,500   19%
    6. Subaru   50,125     3%
    7. Mazda   32,739    36%
    8. Lexus 31,167   33%
    9. Acura 14,850    14%
    10. Volvo 11,575    19%
    11. Genesis 5,180     312%
    12. Lincoln 4,237   51%
     Incentive Spending Falls 37%

    July 2021 Incentive Spending


    Here is incentive spending by automaker for July 2021 for each vehicle sold and how that compares with July 2020:


    1.  BMW $4,269     22%
    2.  Volkswagen $3,381     27%
    3.  GM   $3,336     40%
    4. Daimler  $3,326     42%
    5. Nissan $3,112   32%
    6. Stellantis $2,827     41%
    7. Kia $2,265     39%
    8.  Ford $2,251   45%
    9.  Honda $1,985    25%
    10. Toyota   $1,882     31%
    11. Hyundai $1,720    30%
    12. Subaru $1,345    28%