Tesla, GM, Toyota, Honda, and all the other auto makers that just reported sales – Quartz

5 minutes, 4 seconds Read

The first week of April marks the end of the first quarter of the year and the start of the second. That means this week is the time that almost all major automakers — from Tesla to Ford Motor Co. to Stellantis — report their production and sales information for the past three months.

These reports give investors, analysts, and casual observers insight into the health of a company, even before they report their quarterly earnings. They also provide a window into certain aspects of a company’s business, such as what models are selling and popular with consumers, and whether investing in electric vehicles is finally paying off.

Advertisement

Here’s a look at some of the world’s top automakers’ sales reports for the first quarter of 2024. Check back for updates throughout the week as more companies disclose their deliveries.

Advertisement

General Motors

General Motors on Tuesday said it delivered 594,233 vehicles in the U.S. between January and March, down 1.5% from a year earlier.

Advertisement

That includes 16,425 all-electric vehicles — down 20% year-over-year — largely driven by falling Chevrolet Bolt sales. Just 7,040 Bolts were sold, down from 19,700 units in 2023. But in a brighter spot for the Detroit automaker, it delivered 5,800 Cadillac Lyriq EVs, or a 500% increase compared to a year earlier and 52% increase compared to the prior three month period.

Tesla

Tesla on Tuesday said it delivered 386,810 electric vehicles over the first three months of 2024, falling wildly short of Wall Street’s expectations. The first quarter, which was called a “nightmare” by one bullish Tesla analyst, was chock full of bad news for Elon Musk’s automaker.

Advertisement

Austin, Texas-based Tesla said it sold 369,784 Model 3 compact cars and Model Y SUVs between January and March, and 17,027 other EVs. Although the automaker does not provide a breakout for those deliveries, they include the Model X crossover SUV, Model S sedan, and the Cybertruck, an electric pickup released by Tesla last November.

BYD

China’s biggest EV maker, BYD, said sales across the first three months of 2024 fell 43% compared to the last quarter of 2024, according to a regulatory filing. The Shenzhen-based automaker sold 300,114 EVs between January and March, down from 526,409 units sold between October and December 2023. But the company’s sales were up 14% compared to a year prior.

Advertisement

In recent months, BYD has exacerbated the price war initially started by Tesla last summer, slashing prices and introducing new vehicles across its brands, including the super-cheap e2 and Seagull electric hatchbacks.

The automaker has also been pushing into international markets and now sells its products in more than 50 countries, including Japan and Australia. BYD last month said it expects China’s NEV market to grow strongly in 2024 and that it will continue to expand globally.

Advertisement

Rivian

Rivian delivered 13,588 electric vehicles and produced 13,980 units at its facility in Normal, Illinois, during the first quarter of 2023. The Irvine, California-based company nudged past Wall Street’s delivery estimates — about 13,000 units — and reaffirmed its guidance of producing 57,000 vehicles annually. Sales increased 70% year-over-year, while production climbed 49% year-over-year, although Rivian did make about 3,500 less EVs than it did in the last quarter of 2024.

Advertisement

Rivian lost $5.4 billion in 2023 and expects to lose another $2.7 billion this year, even as it continues with its “company-wide cost transformation program.” 

Hyundai

Hyundai Motor North America kicked off 2024 with record first-quarter sales for both the Hyundai and Genesis brands. Both brands, alongside Kia America, are owned by the Hyundai Motor Group.

Advertisement

Hyundai sold 184,804 vehicles between January and March, up slightly year-over-year, and setting a new first quarter record for the South Korean automaker. Electric vehicle sales increased 62% year-over-year, boosted by a 1542% annual increase in Ioniq 6 electric sedan sales.

Genesis said it sold 14,777 vehicles in the first quarter, a 7.3% increase from a year earlier; it’s the luxury brand’s best-ever first quarter.

Advertisement

“Hyundai keeps producing products that win awards, and demand for our vehicles, especially EVs, remains high,” Hyundai CEO Randy Parker said in a statement. 

Kia

Unlike its sister brands, Kia America didn’t have the best start to 2024. The company sold 179,621 vehicles in the first quarter, down from 184,136 units a year earlier.

Advertisement

But Kia reported strong growth in its electric vehicle department, with EV sales up 88% compared to the same period in 2023, in part due to the new EV9 electric crossover. And despite posting declines in each month, Kia said it sold more than 10,000 units of three models in March alone — the Forte sedan, Sportage SUV, and the Telluride mid-size SUV.

“Our growth in SUVs and early impact of the all-new, all-electric three-row EV9 helped deliver Kia’s second-best first quarter sales result,” Eric Watson, Kia’s vice president of sales operations, said in a statement.

Advertisement

Honda

American Honda sold 338,824 vehicles in the first quarter of 2024 across its two brands, Honda and Acura. That’s a year-over-year increase of 17.3%.

Advertisement

The Honda brand saw sales rise almost 30% between January and March to 303,451, marking the company’s fourth consecutive quarter in a row with sales above 300,000 units sold. More than 100,000 Honda Civic and Accord vehicles were sold in the quarter, while the brand recorded its best first quarter hybrid sales for the CR-V and Accord vehicle families.

But the Acura brand saw sales fall by more than 9% to 30,373 units sold, largely driven by a 20.3% reduction in car deliveries. 

Advertisement

Toyota

Toyota Motor North America said Tuesday that it delivered 565,098 vehicles in the U.S across its namesake brand and Lexus brand in the first quarter of 2024, up from 469,558 vehicles last year. That includes 206,850 deliveries of electric vehicles, according to the Japanese automaker.

Advertisement

The Toyota division sold 486,627 vehicles, up 21% year-over-year, boosted by strong interest in the RAV4, 4Runner, Sienna, and Tundra models. Almost 178,000 units sold were electric vehicles, including plug-in hybrid vehicles, which accounted for more than 36% of total sales. Electric sales climbed 76.4% last quarter.

Lexus sold 78,471 vehicles in the first quarter, up 15% compared to a year prior, helped by growing interest in the brand’s hybrid and electric offerings. Electric sales grew 61% last quarter to 29,027 vehicles, or almost 37% of all deliveries. Sales for the all-electric RZ SUV skyrocketed 766.5% last quarter, while several other electric models — including two variants of the NX SUV — recorded their best-ever first quarter. 

This post was originally published on this site

Similar Posts

0
    0
    Your Cart
    Your cart is emptyReturn to Shop
    ×