2021 U.S. auto sales: A most unusual year

Annual U.S. gentle-vehicle profits edged just about 15 million and have been up three.three p.c when compared with 2020. In advance of COVID-19 reared its head in 2020 and the microchip shortage hit the calendar year just after, 2019’s profits have been 17.1 million, the seventh-strongest annual tally on file.

Motor Intelligence explained December’s seasonally modified, annualized promoting level was twelve.seventy one million, the second-cheapest of 2021 just after September’s twelve.38 million. That’s a steep decrease from the eighteen.five million SAAR recorded in April.

Automakers final week described December or fourth-quarter profits that have been weighed down intensely by stock and production issues for the reason that of the pandemic. Toyota, Honda, Hyundai and Kia declined for the fifth-straight thirty day period.

Over-all fourth-quarter profits fell 21 p.c.

Right after posting a obtain in November, Ford’s profits fell 17 p.c in December, even though it was the major-promoting automaker in the U.S. for the quarter. GM’s stock woes dragged its fourth-quarter profits down 43 p.c to give the automaker its worst quarter considering the fact that 2009 and second-worst calendar year considering the fact that 1952. Stellantis also cited source chain issues for its double-digit drop in the fourth quarter.

Tesla’s fourth-quarter profits soared about 69 p.c to an approximated 78,seven hundred, while smaller-quantity Mitsubishi rose 68 p.c to 24,861.

Speaking with reporters on a meeting connect with final week, Toyota Motor North The us executives ongoing to downplay the Japanese automaker’s initially U.S. profits crown as “not sustainable” and explained they experienced no plans for marketing and advertising on the achievement for the reason that of the extenuating conditions. They also explained consumer need continues to run considerably forward of automakers’ qualities to retain up, accounting for the company’s sharp December drop of a lot more than 30 p.c.

“Out of the 174,000 autos we bought in December, all the things was source constrained,” explained Bob Carter, Toyota Motor North America’s longtime head of profits.

He explained Toyota dealers concluded the thirty day period with considerably less than 3 days’ source on hand, while Lexus dealers experienced just four days’ source. “That’s the cheapest seller stocking degree I have at any time witnessed. Almost everything is reduced single-digit days’ source, so clearly the need is very sturdy.”