Impressive USA Car Sales! YTD June 2023

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USA Vehicle Sales Numbers. Year-To-Date 2023. January-June (% change from YTD 2022)

GM 1,295,186 (+18.3%)

Toyota Group 1,038,520 (-0.7%)

Ford Group 1,007,568 (+10%)

Hyundai Group 820,180 (+16.7%)

Stellantis 802,795 (-1%)

Honda Group 631,532 (+24.8%)

Nissan/Mitsubishi 525,711 (+21.5%)

Tesla (Estimated) 343,000

Subaru 304,092 (+15.3)

Volkswagen 256,697 (+11.5%)

Mazda 183,783 (+28.7%)

Rivian (Estimated) 16,800

Lucid (Estimated) 1,390

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Mostly stellar gains across the board. Q2 and especially June was generally even more impressive than YTD numbers.

Source:
www.autonews.com

Market rebound rolls on

The seasonally adjusted, annualized rate of sales for June came in at 15.8 million, near the high end of forecasts and the third best showing of the year so far, as inventories recover.
www.autonews.com www.autonews.com

I also looked at manufacturers press releases. Some differed very slightly than these, but it’s close enough.
 
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It's amazing and I heard that the other day. Toyota just can't deliver, or they would be up too.
But nobody has money for anything else............ I guess car buyers waited it out and now is the time to deal.
 
I could take (another) photo of my local Toyota dealer lot and it would be empty as usual. Well not really, usually 2 cars,

I guess they come in and they go right out. Around her Subaru, Chevy, Hyundai, Kia and Nissan and Mitsu have had cars during the epidemic. We got on a list and picked up our '23 Crosstrek in a about 4 weeks. Traded in a new 22 Outback ( the dealers had on their lots as it was severely compromised by SIA in various ways. Most SoA execs should be out on the street with a cardboard box of desk items.
 
Zee09 said:
It's amazing and I heard that the other day. Toyota just can't deliver, or they would be up too.
But nobody has money for anything else............ I guess car buyers waited it out and now is the time to deal.
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I had wondered why Toyota numbers weren’t up as well. My local dealer has no cars. The dealer from whom I bought the Tundra sends me a letter every month offering to buy it, even after I asked them to stop wasting our mutual time…
 
Does this mean used might come back down? I know inflation will keep higher than before, but I swear, 150-200k on the clock and 50% of original msrp seems the norm now.
 
2strokeNorthstar said:
People have to replace the cars the bank took back.
Repos on the rise
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+1

I'm curious how these statistics were produced. My neighbor works at a well-known auto auction around here. They are seeing a crazy amount of repos coming through, and dealers are having a tough time selling used vehicles. I'm sure the financing options are better on new vehicles like usual, but I'm sure some people are taking credit hits.
 
A few things.

Last year's numbers were at the arguable peak of the chip shortage. The real frame of reference should be the pre-COVID period of 2019.

Prices are still incredibly strong for most used car markets. It may not be last spring and summer but it's definitely 60% to 75% higher on average vs. before the market turbulence.

Finally, it won't be until around late 2025 or early 2026, but used car prices for gasoline vehicles will have a severe correction. Unless a black swan event happens, the federal tax credits for new cars is going to severely hurt the demand for most gas powered trucks and SUVs. The under-40 crowd is also skewing heavily towards smaller vehicles and retirees will not be as frequent purchasers as they have been.
 
All those plus signs are good for the economy. Lot of folks seem to forget when one industry suffers how much of a ripple effect it has across all of the support jobs that go along. A feel good report. I guess , unless of course someone has a reason why it is not.
 
CKN said:
OK-I will bite. Why would that be?
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We had to back out of two separate houses because of HELOC liens that were never closed with the county once they were paid off. Apparently it's common practice for a bank to "forget" to file that paperwork with the counties when a HELOC gets satisfied.

One house just hit the market after we had to back out in 2021. Nearly two years after we looked at it and were under contract.
 
SwampSurvivor said:
We had to back out of two separate houses because of HELOC liens that were never closed with the county once they were paid off. Apparently it's common practice for a bank to "forget" to file that paperwork with the counties when a HELOC gets satisfied.

One house just hit the market after we had to back out in 2021. Nearly two years after we looked at it and were under contract.
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Depending on your state-there is either a title company, real estate "professional" or an attorney who is not doing their job. You are talking about an incompetent bank-that's all. They are not all incompetent. Liens ARE PUBLIC RECORD. Whose fault is that not for checking beforehand? Closing instructions can be written where the lien is satisficed upon closing-with the proceeds. Assuming there are proceeds. Seller must agree.
 
CKN said:
Depending on your state-there is either a title company, real estate "professional" or an attorney who is not doing their job. You are talking about an incompetent bank-that's all. They are not all incompetent. Liens ARE PUBLIC RECORD. Whose fault is that not for checking beforehand?
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In both cases, each house actually managed to go through multiple sales / owners. With title checks. And even title insurance. But someone missed something, somewhere. It's a big enough problem that I'm not going to be going through that!
 
SwampSurvivor said:
In both cases, each house actually managed to go through multiple sales / owners. With title checks. And even title insurance. But someone missed something, somewhere. It's a big enough problem that I'm not going to be going through that!
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I would have collected on the title insurance.....that's why it's called "insurance".
 
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