Cox Automotive: 10 Takeaways from U.S. Auto Sales in Q1 2022 – Dealer Ops


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The team at Kelley Blue Book has assembled two broad reports from the first quarter: One is a look across industry-wide U.S. sales in Q1, the other a narrow review of electrified vehicle sales in the U.S., the combined sales of hybrids, plug-in hybrids and EVs. - IMAGE: Cox Automotive&#13

The crew at Kelley Blue Reserve has assembled two wide studies from the initially quarter: One is a glance throughout field-broad U.S. product sales in Q1, the other a slim assessment of electrified auto income in the U.S., the blended revenue of hybrids, plug-in hybrids and EVs.

Graphic: Cox Automotive

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COX AUTOMOTIVE – New-auto profits very last quarter came in at 3.3 million, according to the latest Kelley Blue Ebook counts, a drop from 3.9 million in the initial quarter of 2021. Profits in the quarter were down 15.7% year about calendar year, but as the Cox Automotive Field Insights crew has regularly mentioned: There is NOT a demand from customers difficulty in the current market suitable now.  

There are a lot of interested—and able—buyers out there, in spite of history substantial transaction charges. There is expanding curiosity for electric powered motor vehicles (EVs) too, and growing availability of fantastic merchandise. EV income grew 76% year in excess of 12 months in Q1, in line with our January prediction for EV advancement to outpace industry expansion in 2022. EV share jumped from 2.5% of profits in Q1 2021 to 5.2% in Q1 2022.

Our team at Kelley Blue E-book has assembled two broad reports from the very first quarter. 1 is a look throughout market-extensive U.S. income in Q1, the other a narrow assessment of electrified automobile gross sales in the U.S., the mixed sales of hybrids, plug-in hybrids and EVs. Wanting at the numbers, below are 10 takeaways from the quarter.

  1. Toyota is nonetheless on top. After outpacing the field in 2021, the Toyota-Lexus workforce outsold GM once again in Q1 2021. It was closer than forecast, while, and even Toyota executives will acknowledge they do not have the ability or merchandise line to maintain the direct. Look for GM to get back its best-spot in Q2.
  2. EVs product sales carry on to increase fast. Sales in Q1 of 173,561 were being a report for any quarter, and an enhance of 76% from Q1 2021. There were being 32 EV models with at minimum 1 sale in Q1, an increase from 18 designs very last year.
  3. In a down industry, only 4 recognized models delivered calendar year-over-yr sale gains previous quarter: BMW, Genesis, Mini, and Tesla. 
  4. Ford’s F-Sequence is nevertheless king, as it constantly seems to be. With countless types and configurations, the total-size pickup from Ford was #1 in Q1, with sales of 140,701.  An all-electric powered F-150 is formally launching in Q2, stretching an already huge car or truck line even further more. It’s difficult to consider any scenario in which F-Sequence is not king, but handful of of us imagined Toyota would outpace GM.
  5. Fiat bought only 340 autos in Q1, and was conquer by newcomers Lucid and Rivian.
  6. Luxury models grabbed far more share in Q1, at 16.1% of overall gross sales, up from 15.6% a year back. Larger luxury share is one reason industry-huge transaction prices remain elevated—the normal luxurious vehicle offered for $65,123 in March.
  7. Tesla is continue to the dominate player in the EV market—very dominant. In Q1, Tesla’s share of the EV phase rose to 75%, up from 70% in Q1 2021. The two very best-advertising EVs in the U.S. are the Product 3 and the Model Y. Put together, individuals two designs make up nearly 70% of all EVs profits.
  8. Compact beats Bigger, but not Major. The very hot new Ford Maverick compact pickup outsold the Ford Ranger midsize pickup in Q1. But Maverick is a lengthy, very long way from catching the most important pickup from Ford, the F-Sequence.
  9. In luxury, new is essential. The new Mercedes-Benz S-Course experienced a stellar quarter, with gross sales up additional than three-fold from 2021. The S-Course commanded 42% of the significant-stop luxurious vehicle phase very last quarter with 3,800 sold. Regular rate for an S-Class: North of $130,000.
  10. In the industry now, three segments make any difference: Compact SUV, Comprehensive-Size Pickups, Mid-Dimensions SUVs. Merged, all those 3 segments account for 49% of U.S. auto profits.
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Click right here to download the report.



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