The global sales results of major Japanese automakers just released for November 2022 show weakness and an uncertain outlook for 2023. The world’s largest car market, China, as well Putin’s war against Ukraine are major culprits. Add in economically destructive monetary policy and it is our view that there are significant clouds with a chance of thunderstorms on the horizon for 2023. However, Toyota Motor is showing resilience to the sales flu thus far as winter sets in.
It looks like a continuing trend of recent negative developments as November’s Global Light Vehicle (LV) selling rate eased back to 84 million units/year from October’s revised 85 million units/year, according to data and analysis by the LMC Automotive* consultancy more than a week ago. See AutoInformed.com on November Global Light Vehicle Selling Rate Lessens.
At that time LMC said both production and sales were disrupted by COVID‐19 outbreaks and lock-downs in major cities, including Guangdong and Chongqing. Reportedly more than 40% of dealerships in the country had to suspend operations last month.
Japanese Automaker November Sales or Production Results
- Honda only released global production data for November. At 326,000 it declined 12%. China at 95,000 was off -30%.
- Mazda global sales volume in November 2022 at 77,000 decreased 2.7% year on year due to decreased sales in China, Europe and other regions. China at 6000 declined -60%. US sales at 37,000 were up 37% year-over-year.
- Nissan global sales in November at 227,000 declined -26.1% from a year earlier. Sales in China at 48,000 declined 53%.
- Subaru released global production data for November of 81,000, a +4.8% increase. Subaru did not release sales data.
- Toyota Motor with global sales of 884,112 was up 3.7% year-over-year. This data includes subsidiaries Daihatsu Motor Co., Ltd. and Hino Motors, Ltd. Toyota did not report China sales as an individual item.
“In November 2022, both global sales and production exceeded the previous year’s level as a result of solid demand, primarily in North America, in addition to a rebound from the impact of parts supply shortages associated with the spread of COVID-19 in Southeast Asia in the previous year. The situation remains difficult to predict due to semiconductor shortages and COVID-19. However, we will continue to carefully monitor the parts supply situation and minimize sudden decreases in production as much as possible while making every effort to deliver as many vehicles to our customers at the earliest date,” Toyota said.
*LMC Automotive
LMC Automotive is a leading independent and exclusively automotive focused provider of global forecasting and market intelligence in the areas of vehicle sales, production, powertrains and electrification. The company’s client base from around the globe includes car and truck makers, component manufacturers and suppliers, financial, logistics and government institutions. LMC Automotive is part of the LMC group. LMC is the world’s leading economic and business consultancy for the agribusiness sector. For more information about LMC Automotive, visit www.lmc-auto.com. or contact LMC directly at [email protected].
Japanese Global Sales Weak in November. China is a Disaster
The global sales results of major Japanese automakers just released for November 2022 show weakness and an uncertain outlook for 2023. The world’s largest car market, China, as well Putin’s war against Ukraine are major culprits. Add in economically destructive monetary policy and it is our view that there are significant clouds with a chance of thunderstorms on the horizon for 2023. However, Toyota Motor is showing resilience to the sales flu thus far as winter sets in.
It looks like a continuing trend of recent negative developments as November’s Global Light Vehicle (LV) selling rate eased back to 84 million units/year from October’s revised 85 million units/year, according to data and analysis by the LMC Automotive* consultancy more than a week ago. See AutoInformed.com on November Global Light Vehicle Selling Rate Lessens.
At that time LMC said both production and sales were disrupted by COVID‐19 outbreaks and lock-downs in major cities, including Guangdong and Chongqing. Reportedly more than 40% of dealerships in the country had to suspend operations last month.
Japanese Automaker November Sales or Production Results
“In November 2022, both global sales and production exceeded the previous year’s level as a result of solid demand, primarily in North America, in addition to a rebound from the impact of parts supply shortages associated with the spread of COVID-19 in Southeast Asia in the previous year. The situation remains difficult to predict due to semiconductor shortages and COVID-19. However, we will continue to carefully monitor the parts supply situation and minimize sudden decreases in production as much as possible while making every effort to deliver as many vehicles to our customers at the earliest date,” Toyota said.
*LMC Automotive
LMC Automotive is a leading independent and exclusively automotive focused provider of global forecasting and market intelligence in the areas of vehicle sales, production, powertrains and electrification. The company’s client base from around the globe includes car and truck makers, component manufacturers and suppliers, financial, logistics and government institutions. LMC Automotive is part of the LMC group. LMC is the world’s leading economic and business consultancy for the agribusiness sector. For more information about LMC Automotive, visit www.lmc-auto.com. or contact LMC directly at [email protected].