• News
  • Auto Sales
  • October National Sales Results & Incentive Spending By Automaker

    October National Sales Results & Incentive Spending By Automaker

    The microchip shortage and corresponding lack of new vehicle inventory continued to wreak havoc on the U.S. auto industry in October 2021.

    Remember, many of the automakers no longer report sales monthly, but enough do that we can get a feel for sales trends.  Except for Genesis, that has several new products this year, all the rest were down from October 2020.

    For October, the industry was down 17.4%.  However, through the first ten months of 2021, the industry is actually up 12% thanks primarily to a great first quarter before the chip shortage took hold.

    OCTOBER U.S. AUTO SALES


    Here are the brands that report and how they fared in October 2021 versus October 2020:

          
        October 2021   October 2020  
    1. Ford 166,118     3.3%
    2. Toyota 124,040     30.6%
    3. Honda 87,028     23.1%
    4. Hyundai 56,761     1.1%
    5. Kia 52,067     7.2%
    6. Subaru 36,817     40%
    7. Lexus 22,631 15.2%
    8. Mazda 19,519   14.1%
    9. Acura 10,055     27.1%
    10.        Volvo        8,701         18.6 %
    11. Lincoln 8,346     17%
    12. Genesis 5,300     2.8%

     

    OCTOBER INCENTIVE SPENDING

     

    As you would expect, automakers continued to pull back on the amount of incentives spent for each car last month, without exception.  BMW spent the most money per vehicle, while Hyundai spent the least.

    Here is October 2021 incentive spending by automaker versus what each one spent in October 2020:


     

        October 2021            October 2020   
    1. BMW  $3,360 $4,916
    2. Stellantis  $3,108 $4,480
    3. Daimler $2,981 $4,563
    4. VW $2,525 $3,839
    5. Ford $2,481  $4,375
    6. GM $2,441 $4,943
    7. Nissan $2,332 $4,661
    8. Toyota $2,045  $2,462
    9. Honda $1,982  $2,298  
    10.        Kia      $1,775       $2,891
    11. Subaru $1,218  $1,525
    12. Hyundai $1,180  $2,323

     


    Photo Credit:  Ford