Hyundai enjoyed a double-digit sales increase in February, driven mostly by SUV sales.
Monthly sales reports from several automakers indicated that new vehicle sales continued to roll along in February at a healthy clip.
Hyundai, Kia, Subaru, Honda, Mazda and Mitsubishi all reported sizeable gains in February as sales of utility vehicles continued to drive the market. Several automakers such as General Motors, Ford Motor Co., Fiat Chrysler, Toyota, Volkswagen and Nissan no longer report monthly sales totals.
Hyundai Motor America reported total February sales of 53,013 units, a 16% increase in comparison with February 2019 and the highest February sales in Hyundai history, outpacing the previous record set in February 2016. The February sales result is the 17th time in the last 19 months that Hyundai has had increasing overall vehicle sales.
(U.S. new vehicle sales holding steady in February.)
Additionally, Hyundai achieved this overall sales growth while continuing to reduce its dependency on fleet sales, which were down 20% on the month and represented 15% of total sales, said Randy Parker, vice president, National Sales.
The new Seltos helped Kia to a 20% sales jump in February – and a new record for the month.
“February was the second straight month with retail sales growing more than 20%, a remarkable achievement that speaks to the consumer response to Hyundai’s products and the efforts of our dealer partners,” Parker added.
Kia Motors America announced record February sales of 52,177 vehicles, a 20% increase compared with the same period last year. Sales were led by the Forte and Sportage models with 8,513 and 7,934 units sold, respectively.
“In a down market, Kia posted a 20% year-over-year increase. This record-breaking momentum started last year with Telluride, and we aren’t slowing down. We’ve increased Telluride production and sales of its newest sibling, the Seltos SUV, have shattered our initial projections,” said Bill Peffer, vice president, sales operations, Kia Motors America.
Subaru of America Inc. reported 51,695 vehicle sales for February 2020, a 5.3% increase and the best February in the history of the company. The automaker also reported year-to-date sales of 97,980, a 3.8% gain compared to the same period in 2019.
The 2020 Subaru Outback kept the automaker’s consistent sales increases chugging along in February.
February marked the 72nd consecutive month of 40,000+ vehicle sales for the automaker. Forester achieved its best February ever with 16,458 vehicle sales. Outback posted a 2.7% increase, while Crosstrek posted a 0.4% increase compared to February 2019.
(Global auto sales expected to fall 2.5% this year as coronavirus spreads.)
American Honda sales were up 4.2%, with trucks gaining 6% and passenger cars up 2% for the month. The record Honda truck sales lifted the brand 4.7% in February, with multiple models seeing double-digit gains but sales of the Honda Civic sales climbed 11.5% in February, with Fit sales jumping 63.5%
Acura RDX set a new February best to push division February truck record; cars led gains, with ILX up 3.4%
Mazda North American Operations (MNAO) reported total February sales of 28,385 vehicles, an increase of 19% compared to February 2019. Year-to-date sales totaled 52,006 vehicles, an increase of 18.5%. With 26 selling days in February, compared to 24 the year prior, the company posted an increase of 9.8% on a Daily Selling Rate (DSR) basis.
Mazda’s rolled out its new small crossover, the CX-30, helping the automakers to strong February sales.
Mitsubishi Motors North America Inc. (MMNA) today reported February sales of 15,543 vehicles, up 13% over last February, and the best February sales performance in 16 years. Calendar year-to-date sales through the end of February totaled 26,169 vehicles, an increase of 16.5% compared with the same period in 2019.
Analysts from Cox Automotive, however, cautioned that future sales reports could contain some unwelcome surprises and estimated the seasonally adjusted annual rate of sales or SAAR was 16.6 million units in February.
(January new vehicle sales decidedly on the cool side.)
“While some automakers announced their February auto sales today – good numbers from Honda and Hyundai! – most did not. The reports dominating our business seem to be more about the wild cards impacting the overall economy, including concerns over Covid-19 and the surprise move by the Federal Reserve,” Cox analysts noted.