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Classified in: Transportation, Science and technology, Business
Subjects: SVY, ECO

New Vehicle Sales Expected to Dip Slightly in Q3, According to Edmunds


Analysts say challenging market conditions, growing economic uncertainty are offsetting gradual improvements within semiconductor supply chain

SANTA MONICA, Calif., Sept. 29, 2022 /PRNewswire/ -- The car shopping experts from Edmunds forecast that 3,393,988 new cars and trucks will be sold in the U.S. in the third quarter of 2022, which will be a 0.9% decrease from the third quarter of 2021 and a 2.7% decrease compared to the second quarter of 2022.

"Car shoppers must factor in rising inflation and interest rates as part of their budget" - Ivan Drury, Edmunds analyst

"Sales are expected to be down in the third quarter, but they won't be in free fall," said Jessica Caldwell, Edmunds' executive director of insights. "Although inventory levels should slowly pick up as improvements are made to the microchip supply chain, additional headwinds such as rising interest rates, inflation and looming economic uncertainty threaten to offset much of this progress. Consumer confidence could deflate moving forward, but automakers and dealers can at least always count on necessity-based vehicle purchases keeping the industry afloat."

Edmunds analysts advise consumers who need to make a vehicle purchase in the near future to take a much more pragmatic approach than they might have in years past.

"Car shoppers must factor in rising inflation and interest rates as part of their budget," said Ivan Drury, Edmunds' director of insights. "Most Americans are probably used to upsizing or upscaling whenever making a new car purchase, but it's more realistic to expect a reduction in your disposable income for the foreseeable future. Try to stay within the same vehicle parameters and cost because, once you sign the paperwork, your monthly car payment is set."

SALES VOLUME FORECAST, BY MANUFACTURER

SALES VOLUME

2022 Q3 Forecast

2021 Q3 Sales

2022 Q2 Sales

Change from 2021 Q3

Change from 2022 Q2

GM

559,411

448,826

582,646

24.6 %

-4.0 %

Toyota

516,970

566,005

531,107

-8.7 %

-2.7 %

Ford

472,030

400,853

483,744

17.8 %

-2.4 %

Stellantis

393,362

420,932

413,015

-6.5 %

-4.8 %

Hyundai/Kia

391,261

370,538

381,500

5.6 %

2.6 %

Honda

222,696

345,914

239,789

-35.6 %

-7.1 %

Nissan

152,545

198,552

183,171

-23.2 %

-16.7 %

VW/Audi

147,219

132,706

117,929

10.9 %

24.8 %

Industry

3,393,988

3,425,740

3,487,619

-0.9 %

-2.7 %

MARKET SHARE FORECAST, BY MANUFACTURER

Market Share

2022 Q3 Forecast

2021 Q3 Sales

2022 Q2 Sales

Change from 2021 Q3

Change from 2022 Q2

GM

16.5 %

13.1 %

16.7 %

25.8 %

-1.3 %

Toyota

15.2 %

16.5 %

15.2 %

-7.8 %

0.0 %

Ford

13.9 %

11.7 %

13.9 %

18.9 %

0.3 %

Stellantis

11.6 %

12.3 %

11.8 %

-5.7 %

-2.1 %

Hyundai/Kia

11.5 %

10.8 %

10.9 %

6.6 %

5.4 %

Honda

6.6 %

10.1 %

6.9 %

-35.0 %

-4.6 %

Nissan

4.5 %

5.8 %

5.3 %

-22.5 %

-14.4 %

VW/Audi

4.3 %

3.9 %

3.4 %

12.0 %

28.3 %

About Edmunds

Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California. Follow us on Twitter, Facebook and Instagram.

CONTACT:
Talia James-Armand
Director, PR & Communications
PR@Edmunds.com
310-309-4900 
http://edmunds.com/about/press

SOURCE Edmunds.com


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News published on 29 september 2022 at 09:03 and distributed by: