U.S. auto sales: After 2022 low, 2023 rebound uncertain

American Honda struggled throughout the year, with the steepest drop of 33% among the major automakers in 2022. The company posted its 17th straight month of decline.

The automaker said it will start with about 40,000 new vehicles in stock in 2023, telling dealers that inventories won’t be back to normal levels until the fall at the earliest.

Mamadou Diallo, vice president of auto sales at American Honda Motor Co., said the company isn’t “still out of the woods with supply issues,” but that it “has about double its 2022 inventory on hand in 2023.” to begin,” he said.

What areas will see steady growth in 2022? Sales of electric vehicles.

Tesla continues to dominate, selling more than 1.31 million vehicles worldwide annually, but does not provide regional sales figures.

Ford more than doubled its EV sales to 61,575, finishing the year in second place in the US. Ford has lagged behind Hyundai Motor Group for most of the year, but has made headway in the final months thanks to increased production of the F-150 Lightning, which was launched in May. Hyundai sold 58,028 EVs in 2022.

Competition is expected to pick up gradually in 2023, with Ford expected to produce 600,000 EVs globally by the end of the year, Hyundai introducing EVs such as the Kia EV9 and Hyundai Ioniq 6, and GM with its Silverado EV. We will start production of several models including.

Cox Automotive expects US EV sales to exceed 1 million units for the first time this year, Krebs said.

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