LMC Automotive: January Light-Vehicle Sales Up YoYFebruary 6, 2023
U.S. light-vehicle sales grew by 4.5 percent year-on-year (YoY) in January, according to preliminary estimates published by LMC Automotive, although LMC added that the positive YoY result was not surprising given the weakness in the market a year ago caused by the chip shortage.
General Motors once again leads the OEM pack, as Toyota continues to struggle with inventory shortages and slipped behind Ford into third place. By contrast, GM, LMC says, is operating at close to normal.
The Ford F-150 retained its title as the bestselling light vehicle in January, ahead of the Chevrolet Silverado by 8000 units.
Explains David Oakley, manager, Americas sales forecasts for LMC Automotive: “The market performed largely as expected in January. In year-on-year terms, volumes were up, but sales still are subdued compared to their pre-pandemic levels. Retail sales appeared to fall YoY, with the highest share for fleet sales since the onset of the pandemic helping to keep the total market afloat… Overall, these results suggest that the market can grow this year, despite the challenges, barring any further major shocks.”
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