US Auto Trade Down 8% Since 2019

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It’s time for an additional one in all our quarterly US auto gross sales stories. No different media outlet compares US auto business tendencies with as a lot historical past and depth as we do in these. First, earlier than stepping into the automaker comparisons for the second quarter of 2023 versus the second quarters of 2019, 2020, 2021, and 2022, notice that I simply printed our US EV gross sales report for Q2 2023 as nicely, and mixing core information from that report and this one, it seems that full electrical automobiles (BEVs) accounted for 7% of US auto gross sales final quarter. That’s on the again of rising Tesla gross sales (which we’ll discuss extra right here) and likewise rising EV gross sales from a handful of legacy automakers.

I’ll begin with the large overview chart first, however I’ll talk about this one in additional element down on the backside simply earlier than the embedded interactive variations of this and different charts. The massive image view from this chart, although, is that many automakers noticed their gross sales drop lots from 2019 to 2020 amidst the COVID-related financial shutdowns, bounced again lots in 2021, however have since declined once more and are nicely beneath their Q2 2019 numbers. That mentioned, there are some who’ve bucked the development, together with Ford proper on the prime of the gross sales chart, which has seen its gross sales climb from 2020 to 2021 to 2022 to 2023. No different automaker has seen constant (maybe sluggish however constant) gross sales progress from 2020 onward apart from EV star Tesla and Chrysler (which doesn’t have many gross sales to its identify today). One might think about this nice information for Ford, however a part of the rationale for that is that Ford didn’t appear to have as large of a post-COVID bounce-back in Q2 2021 as different automakers.

Simply wanting on the leaders within the second quarter of this 12 months, you possibly can see that Ford, Toyota, and Chevrolet are in a decent race for first place for the time being, and particularly these first two. Honda is by itself tier in between these three and Nissan. Most notable for the electrical automobile revolution is that Tesla is within the prime 10, however not close to the extent of the large canine but — it’s down in ninth.

how the general market has modified prior to now 4 years, it’s been a little bit of a bouncy journey. As you possibly can see beneath, 2019 gross sales have been nicely above 2023 gross sales (the primary chart beneath reveals that Q2 2023 gross sales have been practically 370,000 models decrease than Q2 2019 gross sales). Then, 2020 introduced the COVID pandemic and automotive gross sales collapsed — Q2 2023 gross sales have been greater than 1.1 million models increased than Q2 2020 gross sales. Naturally, Q2 2021 noticed a giant bounce-back in gross sales, and Q2 2023 gross sales pale as compared, ending greater than 786,000 models beneath Q2 2021 gross sales. Are we attending to a extra “regular,” steady interval once more? Perhaps, possibly not. There may be the EV revolution simply getting underway, in spite of everything, and doubtlessly extra financial challenges across the nook. What we are able to say from the previous 12 months or so is that Q2 2023 auto gross sales have been 360,000+ models increased than Q2 2022 gross sales, a ten% bump 12 months over 12 months.

Now that is the place it actually will get enjoyable. Within the remaining charts, you possibly can take a look at automaker-specific adjustments in gross sales quarter over quarter and going again to Q2 2019.

Honda’s the large winner in comparison with Q2 2022, however Chevrolet, Nissan, Tesla, and Ford all noticed sturdy progress quantity sensible. Specializing in proportion progress, small EV startups Rivian and Lucid rose to the highest — on the again of a small variety of gross sales in 2022.

Trying again two years, Tesla has seen essentially the most gross sales progress, up greater than 88,000 models (106%). Ford and Chrysler are additionally celebrating once more.

Humorous sufficient, Toyota was doing so badly in Q2 2020 that it left lots on the desk. Its gross sales rose essentially the most, quantity sensible, in that point interval. Tesla, second within the chart for this metric, was first when it got here to proportion change, up a whopping 431%! Maybe extra shocking, Chrysler was up 255%! Mitsubishi additionally noticed a surprisingly large enhance.

If we go all the way in which again to 2019, we are able to see that Tesla has had essentially the most enchancment in these 4 years, with gross sales rising by 213%, or 116,000+ models — from 54,700 gross sales to 171,000 gross sales. General, the US auto business declined 8% in that timeframe. Greater than half of auto manufacturers noticed their gross sales drop. When you take away Lucid and Rivian (since they weren’t delivering automobiles to clients in Q2 2019), 10 auto manufacturers had a rise in gross sales in that timeframe and 18 auto manufacturers noticed a drop in gross sales.

That’s the story, however if you wish to have extra enjoyable with the charts, embedded variations of a few of them are beneath.


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Tesla Gross sales in 2023, 2024, and 2030



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