July national sales are now in the books, at for those automakers that still report sales monthly. The industry was up 20% from July 2022 with every single automaker up year over year.
Acura was up almost 100% from July 2022 buoyed by increased levels of inventory and on the other end of the spectrum, Lexus was up July to July but only by 3%.
Increased inventory is putting downward pressure on new vehicle prices. The average transaction price last month was $45,305 which was $866 lower than July of 2022. Incentive spending also increased this July.
July 2023 Sales By Brand
Here are the sales results from the automakers that report sales monthly and how that compares to July 2022:
Manufacturer |
July 2023 |
vs July 2022 |
1. Toyota |
166,833 |
9% |
2. Ford |
165,974 |
7% |
3. Honda |
99,700 |
53% |
4. Hyundai |
72,857 |
11% |
5. Kia |
70,930 |
4% |
6. Subaru |
50,389 |
21% |
7. Mazda |
30,629 |
31% |
8. Lexus |
24,851 |
3% |
9. Acura |
12,062 |
99% |
10. Genesis |
6,330 |
22% |
Photo Credit: Toyota.
