American Auto Sales Continue to Rebound in Q3 2023

Matthew Guy
by Matthew Guy

With massive improvements in available inventory – and a strong demand despite gonzo interest rates – vehicle sales were very robust last quarter and indeed for the entire year to date. In fact, if it weren’t for Stellantis, our chart would be green across the board.


No, seriously. In the third quarter of this year, the whole of Stellantis stumbled by 1.3 percent, dragging its yearlong performance by a similar amount. Its two largest brands in this country, Ram and Jeep, were off by 3.5 and 4.2 percent, respectively last quarter. For the year they’re down 2.5 percent and 9.5 percent, numbers which are surely keeping someone in Auburn Hills up at night. And it’s not like either brand, particularly Jeep, is exactly starved for product. In fact, if Chrysler – which sells a grand total of two 2023 models, one of which departs for ’24 – hadn’t mysteriously doubled its sales in Q3, Stellantis as a whole would be down almost 10 percent.


There’s a chart below, detailing most of the brands which have seen fit to release their sales data in a timely manner. If updates are warranted, we’ll do just that.

Elsewhere, companies like Toyota and Honda posted numbers to underscore the fact they’re rebounding from supply constraints. In fact, the Toyota brand alone sold nearly as many vehicles last quarter as Toyota and Lexus did combined in the same timeframe last year. The group is up 12.2 percent overall. Estimated deliveries at Tesla are robust to this point in 2023, outstripping the likes of Subaru, Ram, and GMC.


It is important to keep in the back of our minds these excessively positive numbers are built on the back of a horrid past couple of years, akin to your author proudly saying he ran 50 percent more distance today than yesterday but conveniently forgetting to mention the weather was apocalyptically awful 24 hours ago. And so continues TTAC’s tradition of finding a dark cloud in every silver lining, right? Most will say that positive numbers are positive numbers; they’re largely right, of course.


Talking heads are looking forward to a similarly robust Q4 performance, though those expectations should be tempered with the realities of this UAW strike. If the job action continues for a spell, some brands could once more find themselves affected by a tight supply of rigs. There's that dark cloud again.


[Image: Toyota]


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Matthew Guy
Matthew Guy

Matthew buys, sells, fixes, & races cars. As a human index of auto & auction knowledge, he is fond of making money and offering loud opinions.

More by Matthew Guy

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  • TheEndlessEnigma TheEndlessEnigma on Oct 05, 2023

    145 Fiat's sold during the 3rd quarter. I think that is the major news item here. *Edit: The closest Fiat dealer I can find, in Winter Haven FL, has 26 500x's on their lot.....5 of which are 2022 models!



  • SCE to AUX SCE to AUX on Oct 06, 2023

    The car loan defaults we're seeing today are going to increase.


    I guessing many consumers got:

    • Temporary student debt relief
    • Covid relief money from the last two administrations


    ... and ran out and bought new cars. That relief money was just enough to get them into a new car.


    People don't default on their first car payment. They'll stretch and stretch until they can't, and now 2 years into a 6-year loan, they can't pay, coinciding with their student debts becoming due again.


    A smaller number of people who bought overpriced homes during that same period may have decided (or needed) to move, and now they discover they're upside-down on their mortgage.


    I'm not saying economic conditions are great everywhere, but individual foolish decisions make things look worse than they really are.

  • Peter Buying an EV from Toyota is like buying a Bible from Donald Trump. Don’t be surprised if some very important parts are left out.
  • Sheila I have a 2016 Kia Sorento that just threw a rod out of the engine case. Filed a claim for new engine and was denied…..due to a loop hole that was included in the Class Action Engine Settlement so Hyundai and Kia would be able to deny a large percentage of cars with prematurely failed engines. It’s called the KSDS Improvement Campaign. Ever hear of such a thing? It’s not even a Recall, although they know these engines are very dangerous. As unknowing consumers load themselves and kids in them everyday. Are their any new Class Action Lawsuits that anyone knows of?
  • Alan Well, it will take 30 years to fix Nissan up after the Renault Alliance reduced Nissan to a paltry mess.I think Nissan will eventually improve.
  • Alan This will be overpriced for what it offers.I think the "Western" auto manufacturers rip off the consumer with the Thai and Chinese made vehicles.A Chinese made Model 3 in Australia is over $70k AUD(for 1995 $45k USD) which is far more expensive than a similar Chinesium EV of equal or better quality and loaded with goodies.Chinese pickups are $20k to $30k cheaper than Thai built pickups from Ford and the Japanese brands. Who's ripping who off?
  • Alan Years ago Jack Baruth held a "competition" for a piece from the B&B on the oddest pickup story (or something like that). I think 5 people were awarded the prizes.I never received mine, something about being in Australia. If TTAC is global how do you offer prizes to those overseas or are we omitted on the sly from competing?In the end I lost significant respect for Baruth.
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