Sales of New Vehicles Show Big Increase During May – The Detroit Bureau

With Honda leading the way, carmakers reported hefty sales increase during May as consumers shrugged off higher interest rates and the threat of a default by the U.S. government as the snatched new vehicles from replenished dealer stocks.

“It’s exciting to see what can happen when the best product line-up in the history of the Honda and Acura brands is matched by stronger supply,” said Mamadou Diallo, senior vice president of Auto Sales at American Honda Motor Co. Inc.

Honda, Acura sales soar

The Honda brand reported a 53% sales increase for the month of May, while sales of Acura brand vehicles climbed by 112%, according the AHMC’s sales report for May.

“With our production associates dedicated to filling the product pipeline, our dealers are doing a great job of selling into inventory to meet pent-up demand from our Honda and Acura customers,” Diallo added.

Japanese and South Korean brands reporting monthly sales results also posted healthy gains last month, according to the reports issued Thursday.

Kia America continued its hot streak as the brand posted total May sales of 71,497 units, marking the second-highest monthly sales total in company history and the 10th consecutive month of year-over-year sales increases. 

Kia sales during May were up 23% over the same period last year.

“As evidenced by the triple-digit year-over-year jump for the significantly enhanced 2024 Seltos, Kia continues to stir the market with cutting-edge design, innovative technology, advanced safety features, and proven reliability that customers demand,” said Eric Watson, vice president, sales operations, Kia America.

“More than two out of every three Kia vehicles sold in the U.S. today is a utility vehicle, and in combination with our growing line-up of advanced electrified offerings, we have strong tailwinds to push our business forward for the remainder of the year.”

Genesis, Hyundai, Subaru roll in May

Genesis Motor America reported 5,605 units sold in May 2023, the best-ever May U.S. sales for the brand and a 27% increase versus May 2022.

Hyundai reported an 18% sales increase for the month of May. “Hyundai’s eco-friendly sales performed exceptionally well in May, contributing significantly to ourstrong retail and total sales results,” noted Randy Parker, CEO, Hyundai Motor America. 

Subaru of America reported sales of 54,531 vehicles for May 2023, a 28.2% increase compared with May 2022. SOA also reported year-to-date sales of 248,924, a 12.8% increase compared with the same period in 2022.

“We’d like to thank our retailers for going above and beyond in this 10th consecutive month of sales growth, with a 28% increase compared with May 2022,” said Jeff Walters, president and chief operating officer, Subaru of America Inc. 

Toyota Motor North America reported May 2023 U.S. sales of 187,204 vehicles, up 6.4% on a volume basis. 

Toyota Division sales for the month totaled 159,984 vehicles, up 3.7% on a volume basis, but Lexus Division sales for the month totaled 27,220 vehicles, up 25.1% on a volume basis, reflecting the dominance of affluent buyers in the current market and their preference for more expensive vehicles.

TMNA’s May 2023 U.S. electrified sales totaled 50,573 vehicles, up 9.3% on a volume basis, representing 27% of total volume. Lexus Division’s electrified sales totaled 8,104 vehicles, up 115.4%, a best-ever May. The Division’s electrification sales represented 29.8% of total sales volume.

“Rising inventory, combined with pent-up demand, is keeping growth going mostly by holding the long list of economic- and price-related headwinds at bay,” Wards Intelligence noted.

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• Source: https://www.thedetroitbureau.com/2023/06/sales-of-new-vehicles-show-big-increase-during-may/