NEW: Get Updates by Email

Sales of Hybrids Help Automakers Boost February Deliveries

by | March 1, 2024

With a boost from sales of hybrids leading the way, Asian automakers posted steady increases in sales during February as Honda, Toyota, Kia and Subaru all reported gains during what is often a difficult month for selling cars.

Honda Associate Assembles a Civic Natural Gas Vehicle

The Honda Civic enjoyed a strong February, as did its larger sibling, the Accord.

American Honda reported especially strong sales. Honda brand sales topped 100,000 units in February, an increase of 38% on robust sales of cars and light trucks. Honda electrified sales set a February record of 20,681 units. The CR-V topped 30,000 units, with record hybrid sales.

Honda HR-V sales increased 45%, and Honda light truck models all posted double digit gains over January, led by the Pilot, which grew 26%, Ridgeline which was up 19%, while the Passport increased 18% and sales of the Odyssey increased 23%.

Sales of Honda passenger cars also jumped as the Accord and Civic combined for over 34,000 units, accounting for more than one-third of the sales. Civic sales were up 37% to over 20,000 units, while the Accord hybrid posted record February sales.

Acura brand also posted February sales with health gains, increasing 13% led by the RDX, which saw sales increase by 54%.

Toyota takes off

Toyota RAV4 underbody line REL

Toyota’s February sales rose by double digits, including electrified vehicles, which rose 83.7% year over year.

Meanwhile, Toyota Motor North America reported February U.S. sales of 184,450 vehicles, up 16.2% on a volume basis. Toyota Division sales for the month totaled 159,262 vehicles, up 16% on a volume basis. Lexus Division sales for the month totaled 25,188 vehicles, a best-ever February, up 17.4% on a volume basis.

TMNA’s February 2024 U.S. electrified sales totaled 68,445 vehicles, up 83.7% on a volume basis, representing 37.1% of total sales volume for the month. This month’s 37.1% ratio represents an all-time best-ever.

Toyota Division’s electrified sales totaled 58,956 vehicles, up 87.1%, and its electrification sales represented 37% of total sales volume for the month. Lexus Division’s electrified sales totaled 9,489 vehicles, a best-ever February, up 65.2%. Its electrification sales represented 37.7% of total sales volume for the month.

Subaru ticks upward

Subaru of America reported 47,189 vehicle sales for February 2024, a 3.1% increase compared with February 2023. February also marked the 19th consecutive month of month-over-month sales increases for the automaker.

Subaru sales eased upward last month, rising 3.1% and posting its 19th consecutive month of month-over-month sales increases.

Jeff Walters, president and Chief Operating Officer, Subaru of America Inc., said, “Subaru’s lineup of vehicles continued to impress in February. Four Subaru vehicles also continued to be recognized for their safety by IIHS, with the 2024 Ascent earning a 2024 Top Safety Pick plus ranking and the Impreza, Outback, and Solterra continuing their streak of being named an IIHS Top Safety Pick.”

Hyundai rolls

Hyundai Motor America reported record-breaking total February sales of 60,341 units, a 6% increase compared with February 2023. Hyundai’s eco-friendly vehicle sales grew 7%, while fleet volume was 8.3%. The brand also achieved record-breaking retail sales of 55,341, a 5% increase year-over-year.

“Hyundai’s sales of electric vehicles and plug-in hybrids are steadily rising, with significant year-over-year growth,” said Randy Parker, CEO, Hyundai Motor America. “We take pride in the recognition our EV and plug-in hybrid models have received and remain committed to providing our customers with a diverse range of products.”

2024 Hyundai ioniq 6

After a 9% decline in January, Hyundai sales rebounded in February, rising 6% and setting a new record.

Genesis Motor America is reporting 4,605 vehicle sales in February 2024, representing a 9% increase vs. February 2023 and 16 consecutive months of year-over-year sales growth for the brand.

Kia lolls

Kia America sales dropped 3% in February with sales totaling 59,059 units. But sales of Kia’s EV models continued to climb, up 65% year-over-year through February with the ongoing launch of the award winning EV9 3-row EV SUV. Sales of Kia’s SUVs were up 6% year-over-year and accounted for 76% of the February sales total.

Cox Automotive predicted a rebound in sales in February from the levels that prevailed during January. The seasonally adjusted annual rate or SAAR is expected to level out at 15.4 million thanks, in large part, to higher inventories on dealer lots and falling prices.


Submit a Comment

Your email address will not be published. Required fields are marked *

Our Mailing List is Live!
Get Updates by Email

Get on our list to receive the latest automotive news in your inbox!

Invalid email address
I would like to receive:
Give it a try. You can unsubscribe at any time.

Share This