Narrow inventories pushed sales of new vehicles down as Toyota, Honda, Subaru, Hyundai and Kia all reported their sales dropped during November despite anticipated strong demand.
Kia reported a drop in sales for November; however, its total sales through the first 11 months of 2021 surpassed the sales record the company set for all of 2020.
Kia sold 77% of its available inventory and continued to see increased demand for its hybrid and battery-electric vehicles, sales of which have nearly doubled since this time last year.
Hyundai sales of electrified vehicles climbed with sales hitting a 165% increase in November. Hyundai Motor America reported total November sales dropped 20% compared with November 2020, but sales of the company\u2019s growing line eco-friendly vehicles grew 165 percent.
Consumer demand remains exceptionally high, and our dealers are doing a fantastic job of turning vehicles quickly and selling many before they even hit the lot.
American Honda reported a 17.1% drop in sales as Acura brand sales fell 21.2% and Honda brand sales dropped 16.6% due to what the company described as limited inventory.
Subaru of America said November sales dropped 35% compared with year-ago results. So far this year, Subaru sales have dropped 3% as inventories declined. Subaru sales were down 35% in November, but only 3% through the first 11 months of 2021.
Toyota and Lexus reported a steep decline in sales during November. Toyota brand sales fell 27.4% while Lexus sales dropped 35.1 percent.
Sales pace in November is expected to finish near 13.4 million units, up from last month\u2019s 13 million, but down from November 2020\u2019s COVID-recovery pace of 15.9 million.<\/p>\n","protected":false},"excerpt":{"rendered":"
Narrow inventories pushed sales of new vehicles down as Toyota, Honda, Subaru, Hyundai and Kia all reported their sales dropped during November despite anticipated strong demand. Kia reported a drop in sales for November; however, its total sales through the first 11 months of 2021 surpassed the sales record the company set for all of …<\/p>\n","protected":false},"author":13,"featured_media":56024,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[38,36],"tags":[7490,7313,8193,7438,8192,8191,8190,6858,8189],"class_list":["post-56019","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-commodities-news","category-market-updates","tag-electric-vehicles","tag-honda","tag-hyundai","tag-inventories","tag-kia","tag-subaru","tag-toyota","tag-us-economy","tag-vehicle-sales"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=56019"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56019\/revisions"}],"predecessor-version":[{"id":56025,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/56019\/revisions\/56025"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/56024"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=56019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=56019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=56019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}