Analysts predicted new vehicle sales results for November would be strong and now that the numbers are in, they were right. Some companies even enjoyed record-setting tallies for the 11th month of 2023.
November turned out to be a good month for sales by Asian carmakers as Toyota, Lexus, Honda, Acura, Mazda Subaru, Hyundai, Genesis and Kia all reported increased deliveries for last month.
American Honda appears to have led the way as the Honda brand tops 1 million in sales for the year, with a sales increase of 32% in November. Acura sales increased 44.6% last month.
Honda electrified sales represent 25.4% of total company sales in 2023; CR-V and Accord hybrid-electric models combine for a best-ever 267,161 units through November, continuing a record streak.
Toyota Motor North America reported November U.S. sales of 197,746 vehicles, up 16.9% on a volume basis. Toyota Division sales for the month totaled 166,766 vehicles, up 10.4% on a volume basis. Lexus Division sales for the month totaled 30,980 vehicles, up 70.3% on a volume basis, its best November ever.
More big numbers
Subaru of America Inc reported its 16th consecutive month of increased sales with 53,327 vehicles sold for November. Subaru sales were up 6.4% increase compared with November 2022. SOA also reported year-to-date sales of 574,322, a 14.9% increase compared with the same period in 2022.
“We are geared up to end the year on a high note, achieving sixteen consecutive months of sales increases and continuing to offer the safety, reliability, and adventure that customers are looking for,” said Jeff Walters, president and COO, Subaru of America Inc.
Kia America announced a 3% sales increase for its best-ever November sales of 58,338 units. The record month propelled Kia past its previous record for total annual U.S. sales in under 11 months – with 722,176 vehicles sold with one month remaining in 2023 – and marked the brand’s 16th consecutive month of year-over-year sales growth.
Kia’s EV models saw a year-over-year increase of 120% with EV6 sales surging by 101% compared to the same month last year. And Kia’s EV9 reservation program has received deposits from customers in every one of the 50 U.S. states.
“Demand for Kia vehicles continues at an all-time high and to beat our previous annual sales record in less than 11 months demonstrates the power of the Kia brand and growing lineup of rugged and capable SUVs, sports sedans and innovative EVs,” said Eric Watson, vice president, sales operations, Kia America.
“New customers are shopping Kia like never before and our retailers are selling more vehicles than ever, and with the groundbreaking EV9 SUV arriving shortly in showrooms and the updated Sorento SUV on the way, we anticipate Kia’s winning streak will extend well into the new year.”
More records broken
Hyundai Motor America reported best-ever total November sales of 70,079 units, an 11% increase compared with the year-ago numbers. It was the 16th month in a row Hyundai has seen increases in total sales.
“We’re very pleased with the strong sales and steadfast support from our retail partners, leading us to a 16th consecutive month of increased total sales,” said Randy Parker, CEO of Hyundai Motor America. “This exceptional performance extends across our entire brand, with notable strength in our line-up of SUVs, a significant driver of our continued success.”
At Genesis Motor America, sales increased by 20% increase in November 2023. November was the 13th consecutive months of year-over-year sales growth for the brand, the South Korean luxury carmaker reported.
Mazda North American Operations also reported total November sales of 27,715 vehicles, an increase of 3% compared to last year’s result. Year-to-date sales totaled 323,836 vehicles; an increase of 21% compared to the same time last year.
Cox Automotive’s Senior Economist Charlies Chesbrough notes, “New-inventory volume continues to improve and is at the highest level since March 2021. Additional inventory is providing more options for buyers still in the market, particularly for larger trucks and SUVs. New-vehicle days’ supply has been approaching 2020 levels this month, with the current days’ supply above both 2021 and 2022 levels.”