USA - Automotive Sales volume, 2025
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*The number of units listed is the number at the time of the announcement.
Flash report, Automotive sales volume, 2025
Jan. Feb. Mar. Apr. May Jun. Jul. Aug. Sep. Oct. Nov. Dec.
Flash report, April 2025
May 2, 2025
U.S. auto sales up 10.0% in April on rush demand, inventory decline and price hikes concerns going forwardThe number of new vehicles sold in the U.S. in April 2025 (preliminary figures including estimates for GM/Stellantis/Tesla, etc.), aggregated by MarkLines as of May 2, was 1,465,356 units, up 10.0% y/y. The number of business days in April was 26, one day more than in the same month last year.
The U.S. has imposed an additional 25% tariff on all passenger car and light truck imports since April 3. President Trump, impatient with the progress in tariff negotiations, announced on April 29 a presidential decree to ease the burden of the 25% tariff on imported auto parts, which will take effect on May 3, for automakers producing in the US. The impact of the tariffs is spreading, and some U.S. automakers are already reportedly considering raising prices after June. If the prolonged trade war makes higher import costs and lower inventory levels a reality, sales price hikes are inevitable. Such concerns about the future are driving consumers to purchase vehicles before the price hikes, and new vehicle sales in April increased by double-digits y-o-y.
By vehicle type, sales of light trucks were up 15.2% y-o-y to 1,213,851 units, while passenger cars were down 9.7% y-o-y to 251,505 units.
According to the U.S. media dated May 2, total inventory in mid-April was 2.57 million units (2.99 million in early March and 2.66 million in mid-March). Inventory days by brand at the end of March were apparently much lower for major brands due to the rush demand in March. Lincoln, Infiniti, and Ram had larger inventories at 85, 82, and 78 days, respectively. Meanwhile, among Japanese brands, Toyota had 23 days, Lexus 22 days, Honda 37 days, Acura 61 days, Nissan 38 days, Subaru 25 days, Mazda 42 days, and Mitsubishi 33 days. Korean brands, which continue to enjoy strong sales, were Hyundai, Genesis, and Kia on 47, 45, and 38 days, respectively. While there are reports that companies were building up their inventories in preparation for the additional tariffs, Stellantis suspended shipments from Italy in April, Jaguar Land Rover (JLR) also suspended shipments in April, and Audi took emergency measures such as keeping all vehicles arriving in the US in ports from April 2. The future trend of inventory volume, especially for imports, should be closely watched.
Sales of new vehicles by type
| Type | 2025 | 2024 | Y-o-Y | 2025 | 2024 | Y-o-Y |
|---|---|---|---|---|---|---|
| Apr. | Apr. | Jan.-Apr. | Jan.-Apr. | |||
| Passenger Cars | 251,505 | 278,414 | -9.7% | 1,009,960 | 1,075,797 | -6.1% |
| Light Trucks (Pickup Truck, SUV) | 1,213,851 | 1,053,801 | 15.2% | 4,376,587 | 4,040,726 | 8.3% |
| Total | 1,465,356 | 1,332,215 | 10.0% | 5,386,547 | 5,116,523 | 5.3% |
In April, GM's sales increased 19.6% y-o-y, while Ford's sales rose 13.3% y-o-y due to the success of its incentive program to extend employee price discounts to general customers, and the automaker has decided to extend the incentive program through July 6, While Stellantis sales turned around to a 3.9% increase with the introduction of the same incentives as Ford, Tesla sales fell sharply by 19.6%, indicating the continued shift away from Tesla in the U.S. and Europe.
In April sales of Japanese vehicles, electrified vehicles led Toyota to a 10.2% y/y increase, and Lexus recorded its highest April sales ever. Honda also posted an 18.1% increase on the back of strong sales of electrified vehicles and the Acura, setting a new record for April. Nissan's sales were down 2.4%. Subaru barely maintained positive sales for the 33rd consecutive month with a slight 0.3% increase. Mazda's sales were up 21.0%, marking the 12th consecutive monthly increase, while Mitsubishi's sales were up 7.5%.
Sales of Hyundai and Kia were up 18.5% and 13.8%, respectively, in April, as sales of hybrid vehicles (HVs) and electric vehicles (EVs) continued to be strong. Both companies have set monthly sales records for each of the past seven months. The luxury brand Genesis also set a new monthly sales record in April.
In April, sales of European brands were as follows: VW down 14.2%, Mercedes-Benz up 1.2%, BMW up 16.1%, Audi down 3.7%, and Volvo up 22.6%.
USA - Sales of passenger cars and light commercial vehicles
| Apr. 2025 | Apr. 2024 | y-o-y | Jan.-Apr. 2025 |
Jan.-Apr. 2024 |
y-o-y | ||
|---|---|---|---|---|---|---|---|
| GM *2 | Total | 266,012 | 222,405 | 19.6% | 956,423 | 812,460 | 17.7% |
| Share | 18.2% | 16.7% | 1.5 pt | 17.8% | 15.9% | 1.9 pt | |
| Toyota *2 | Total | 233,064 | 211,469 | 10.2% | 803,355 | 776,567 | 3.4% |
| Share | 15.9% | 15.9% | 0.0 pt | 14.9% | 15.2% | -0.3 pt | |
| Ford | Total | 202,391 | 178,599 | 13.3% | 685,095 | 683,414 | 0.2% |
| Share | 13.8% | 13.4% | 0.4 pt | 12.7% | 13.4% | -0.6 pt | |
| Honda | Total | 137,630 | 116,586 | 18.1% | 489,199 | 450,410 | 8.6% |
| Share | 9.4% | 8.8% | 0.6 pt | 9.1% | 8.8% | 0.3 pt | |
| Stellantis *2 | Total | 105,912 | 101,967 | 3.9% | 398,186 | 436,208 | -8.7% |
| Share | 7.2% | 7.7% | -0.4 pt | 7.4% | 8.5% | -1.1 pt | |
| Hyundai | Total | 87,834 | 74,111 | 18.5% | 308,931 | 273,692 | 12.9% |
| Share | 6.0% | 5.6% | 0.4 pt | 5.7% | 5.3% | 0.4 pt | |
| Kia | Total | 74,796 | 65,754 | 13.8% | 273,644 | 245,375 | 11.5% |
| Share | 5.1% | 4.9% | 0.2 pt | 5.1% | 4.8% | 0.3 pt | |
| Nissan *2 | Total | 72,590 | 74,366 | -2.4% | 339,654 | 327,101 | 3.8% |
| Share | 5.0% | 5.6% | -0.6 pt | 6.3% | 6.4% | -0.1 pt | |
| Subaru | Total | 56,011 | 55,863 | 0.3% | 222,968 | 208,859 | 6.8% |
| Share | 3.8% | 4.2% | -0.4 pt | 4.1% | 4.1% | 0.1 pt | |
| Tesla *2 | Total | 39,900 | 49,600 | -19.6% | 173,700 | 195,700 | -11.2% |
| Share | 2.7% | 3.7% | -1.0 pt | 3.2% | 3.8% | -0.6 pt | |
| Mazda | Total | 37,654 | 31,125 | 21.0% | 148,000 | 131,228 | 12.8% |
| Share | 2.6% | 2.3% | 0.2 pt | 2.7% | 2.6% | 0.2 pt | |
| BMW *2 | Total | 34,495 | 29,711 | 16.1% | 119,094 | 114,186 | 4.3% |
| Share | 2.4% | 2.2% | 0.1 pt | 2.2% | 2.2% | 0.0 pt | |
| Mercedes *1 *2 | Total | 28,976 | 28,631 | 1.2% | 114,351 | 111,254 | 2.8% |
| Share | 2.0% | 2.1% | -0.2 pt | 2.1% | 2.2% | -0.1 pt | |
| VW *2 | Total | 27,602 | 32,178 | -14.2% | 115,517 | 114,279 | 1.1% |
| Share | 1.9% | 2.4% | -0.5 pt | 2.1% | 2.2% | -0.1 pt | |
| Audi *2 | Total | 15,997 | 16,618 | -3.7% | 58,707 | 60,844 | -3.5% |
| Share | 1.1% | 1.2% | -0.2 pt | 1.1% | 1.2% | -0.1 pt | |
| Volvo *2 | Total | 12,998 | 10,604 | 22.6% | 46,283 | 41,555 | 11.4% |
| Share | 0.9% | 0.8% | 0.1 pt | 0.9% | 0.8% | 0.0 pt | |
| Mitsubishi | Total | 7,710 | 7,175 | 7.5% | 36,017 | 35,578 | 1.2% |
| Share | 0.5% | 0.5% | 0.0 pt | 0.7% | 0.7% | 0.0 pt | |
| Porsche *2 | Total | 7,308 | 6,990 | 4.5% | 24,596 | 20,419 | 20.5% |
| Share | 0.5% | 0.5% | 0.0 pt | 0.5% | 0.4% | 0.1 pt | |
| Land Rover *2 | Total | 6,773 | 7,785 | -13.0% | 34,212 | 30,561 | 11.9% |
| Share | 0.5% | 0.6% | -0.1 pt | 0.6% | 0.6% | 0.0 pt | |
| Rivian *2 | Total | 3,981 | 3,939 | 1.1% | 14,999 | 19,026 | -21.2% |
| Share | 0.3% | 0.3% | 0.0 pt | 0.3% | 0.4% | -0.1 pt | |
| MINI *2 | Total | 2,489 | 1,736 | 43.4% | 9,074 | 8,105 | 12.0% |
| Share | 0.2% | 0.1% | 0.0 pt | 0.2% | 0.2% | 0.0 pt | |
| Polestar *2 | Total | 419 | 450 | -6.9% | 2,594 | 2,660 | -2.5% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Lucid Motors *2 | Total | 404 | 622 | -35.0% | 1,816 | 2,239 | -18.9% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Ineos Automotive | Total | 353 | 543 | -35.0% | 1,012 | 2,548 | -60.3% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Jaguar *2 | Total | 339 | 895 | -62.1% | 2,090 | 3,440 | -39.2% |
| Share | 0.0% | 0.1% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Fisker | Total | 0 | 840 | -100.0% | 0 | 2,500 | -100.0% |
| Share | 0.0% | 0.1% | -0.1 pt | 0.0% | 0.0% | 0.0 pt | |
| Karma *2 | Total | 0 | 2 | -100.0% | 0 | 8 | -100.0% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| VinFast *2 | Total | N/A | N/A | -% | N/A | N/A | -% |
| Share | -% | -% | -% | -% | -% | -% | |
| Others | Total | 1,718 | 1,651 | 4.1% | 7,030 | 6,307 | 11.5% |
| Share | 0.1% | 0.1% | 0.0 pt | 0.1% | 0.1% | 0.0 pt | |
| Grand Total *2 | 1,465,356 | 1,332,215 | 10.0% | 5,386,547 | 5,116,523 | 5.3% | |
*1 Includes Sprinter
*2 Estimates
Flash report, March 2025
Apr 2, 2025
U.S. auto sales up 9.1% in March as pre-tariff rush boosts new car salesNote: Some figures were updated on April 10 (2nd update).
The number of new vehicles sold in the U.S. in March 2025 (preliminary figures including estimates for GM/Stellantis/Tesla, etc.), as aggregated by MarkLines as of April 2, was 1,591,710 units, up 9.1% y/y.
The U.S. is set to impose 25% tariffs on all passenger car and light-truck imports on April 3, which is expected to increase wholesale and retail prices. According to several U.S. media reports, analysts predict that if the tariffs continue for a period of time, new vehicle prices will rise by USD 3,000 to 10,000 per vehicle industry-wide. Some consumers, anxious about this situation, made rush purchases before the tariffs take effect. This boosted new car sales in March, which were up more than 20% from the previous month. March had 26 business days, one day less than the same month last year. Light vehicle seasonally adjusted annualized sales (SAAR) for March 2025 was 17.8 million units versus 15.7 million units one year ago.
Looking at March sales by vehicle type, light truck sales were up 11.1% y/y to 1,280,136 units, while passenger car sales were up 1.4% y/y to 311,574 units.
According to U.S. media on April 1, total inventory at the beginning of March was 2.99 million units (2.95 million units at the start of February) but fell to 2.66 million mid-month. Among major brands, Lincoln had a higher inventory at 118 days and Dodge 94 days at the end of February 2025. Meanwhile, among Japanese-affiliated brands, Toyota, Lexus, Honda, Acura, Nissan, and Infiniti were 30, 29, 49, 63, 45, and 83 days in stock, respectively. Other Japanese brands include Subaru 43 days, Mazda 53 days, and Mitsubishi 47 days. Korean brands with strong sales include Hyundai 64 days, Genesis 57 days, and Kia 47 days. There are reports that manufacturers are increasing their inventories in preparation for tariffs.
Sales of new vehicles by type
| Type | 2025 | 2024 | Y-o-Y | 2025 | 2024 | Y-o-Y |
|---|---|---|---|---|---|---|
| Mar. | Mar. | Jan.-Mar. | Jan.-Mar. | |||
| Passenger Cars | 311,574 | 307,307 | 1.4% | 758,455 | 797,383 | -4.9% |
| Light Trucks (Pickup Truck, SUV) | 1,280,136 | 1,151,898 | 11.1% | 3,162,736 | 2,986,925 | 5.9% |
| Total | 1,591,710 | 1,459,205 | 9.1% | 3,921,191 | 3,784,308 | 3.6% |
Sales of U.S. automakers in March were up 22.7% y/y for GM, Ford's sales were up 7.4%, its first increase in four months. Stellantis sales were down 7.2% for the fifth consecutive month, and Tesla’s sales were down 4.8% for the fifth consecutive month, as both automakers continued their declines.
In March, Toyota's sales increased 7.5% y/y, its first in four months. The RAV4 compact crossover SUV, a popular model in the U.S. market, faced supply shortages in mid-March. Honda's sales up 13.3%, Nissan was up 7.8% and Subaru maintained positive sales for the 32nd consecutive month with a 16.6% increase. Mazda posted its 11th consecutive monthly sales increase, up 16.1%, Mitsubishi's sales increased 3.5%.
March sales of Korean cars were up 13.7% for Hyundai Motor and 13.1% for Kia, on the back of continued strength in SUV and HV sales. Both automakers posted year-on-year sales increases for the sixth consecutive month and set new monthly sales records for the sixth consecutive month.
In March, VW sales were up 2.8%, Mercedes-Benz sales were down 2.0%, BMW sales were down 2.2%, Audi sales were up 0.6%, and Volvo sales were down 8.2%.
USA - Sales of passenger cars and light commercial vehicles (Click for data by model)(Sales figures of BMW have been updated. April 8, 2025)(Sales figures of Audi,Volvo,VW have been updated. April 3, 2025)
| Mar. 2025 | Mar. 2024 | y-o-y | Jan.-Mar. 2025 |
Jan.-Mar. 2024 |
y-o-y | ||
|---|---|---|---|---|---|---|---|
| GM *2 | Total | 281,275 | 229,297 | 22.7% | 690,411 | 590,055 | 17.0% |
| Share | 17.7% | 15.7% | 2.0 pt | 17.6% | 15.6% | 2.0 pt | |
| Toyota *2 | Total | 231,307 | 215,182 | 7.5% | 570,291 | 565,098 | 0.9% |
| Share | 14.5% | 14.7% | -0.2 pt | 14.5% | 14.9% | -0.4 pt | |
| Ford | Total | 193,170 | 179,870 | 7.4% | 482,704 | 504,815 | -4.4% |
| Share | 12.1% | 12.3% | -0.2 pt | 12.3% | 13.3% | -1.0 pt | |
| Honda | Total | 147,805 | 130,504 | 13.3% | 351,569 | 333,824 | 5.3% |
| Share | 9.3% | 8.9% | 0.3 pt | 9.0% | 8.8% | 0.1 pt | |
| Stellantis *2 | Total | 118,358 | 127,520 | -7.2% | 292,274 | 334,241 | -12.6% |
| Share | 7.4% | 8.7% | -1.3 pt | 7.5% | 8.8% | -1.4 pt | |
| Nissan *2 | Total | 109,953 | 101,989 | 7.8% | 267,064 | 252,735 | 5.7% |
| Share | 6.9% | 7.0% | -0.1 pt | 6.8% | 6.7% | 0.1 pt | |
| Hyundai | Total | 94,133 | 82,823 | 13.7% | 221,097 | 199,581 | 10.8% |
| Share | 5.9% | 5.7% | 0.2 pt | 5.6% | 5.3% | 0.4 pt | |
| Kia | Total | 78,546 | 69,471 | 13.1% | 198,848 | 179,621 | 10.7% |
| Share | 4.9% | 4.8% | 0.2 pt | 5.1% | 4.7% | 0.3 pt | |
| Subaru | Total | 71,478 | 61,297 | 16.6% | 166,957 | 152,996 | 9.1% |
| Share | 4.5% | 4.2% | 0.3 pt | 4.3% | 4.0% | 0.2 pt | |
| Tesla *2 | Total | 49,900 | 52,400 | -4.8% | 133,800 | 146,100 | -8.4% |
| Share | 3.1% | 3.6% | -0.5 pt | 3.4% | 3.9% | -0.4 pt | |
| Mazda | Total | 43,108 | 37,119 | 16.1% | 110,346 | 100,103 | 10.2% |
| Share | 2.7% | 2.5% | 0.2 pt | 2.8% | 2.6% | 0.2 pt | |
| VW *2 | Total | 35,583 | 34,618 | 2.8% | 87,915 | 82,101 | 7.1% |
| Share | 2.2% | 2.4% | -0.1 pt | 2.2% | 2.2% | 0.1 pt | |
| BMW *2 | Total | 34,402 | 35,168 | -2.2% | 84,599 | 84,475 | 0.1% |
| Share | 2.2% | 2.4% | -0.2 pt | 2.2% | 2.2% | -0.1 pt | |
| Mercedes *1 *2 | Total | 31,024 | 31,656 | -2.0% | 85,375 | 82,623 | 3.3% |
| Share | 1.9% | 2.2% | -0.2 pt | 2.2% | 2.2% | 0.0 pt | |
| Audi *2 | Total | 17,286 | 17,181 | 0.6% | 42,710 | 44,226 | -3.4% |
| Share | 1.1% | 1.2% | -0.1 pt | 1.1% | 1.2% | -0.1 pt | |
| Volvo *2 | Total | 14,052 | 15,315 | -8.2% | 33,285 | 30,951 | 7.5% |
| Share | 0.9% | 1.0% | -0.2 pt | 0.8% | 0.8% | 0.0 pt | |
| Mitsubishi | Total | 12,806 | 12,367 | 3.5% | 28,307 | 28,403 | -0.3% |
| Share | 0.8% | 0.8% | 0.0 pt | 0.7% | 0.8% | 0.0 pt | |
| Land Rover *2 | Total | 10,296 | 8,416 | 22.3% | 27,439 | 22,776 | 20.5% |
| Share | 0.6% | 0.6% | 0.1 pt | 0.7% | 0.6% | 0.1 pt | |
| Porsche *2 | Total | 6,288 | 4,553 | 38.1% | 17,288 | 13,429 | 28.7% |
| Share | 0.4% | 0.3% | 0.1 pt | 0.4% | 0.4% | 0.1 pt | |
| Rivian *2 | Total | 4,003 | 4,892 | -18.2% | 11,018 | 15,087 | -27.0% |
| Share | 0.3% | 0.3% | -0.1 pt | 0.3% | 0.4% | -0.1 pt | |
| MINI *2 | Total | 2,684 | 2,249 | 19.3% | 6,585 | 6,369 | 3.4% |
| Share | 0.2% | 0.2% | 0.0 pt | 0.2% | 0.2% | 0.0 pt | |
| Lucid Motors *2 | Total | 1,001 | 575 | 74.1% | 1,412 | 1,617 | -12.7% |
| Share | 0.1% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Jaguar *2 | Total | 598 | 1,148 | -47.9% | 1,751 | 2,545 | -31.2% |
| Share | 0.0% | 0.1% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Polestar *2 | Total | 557 | 690 | -19.3% | 2,175 | 2,210 | -1.6% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.1% | 0.1% | 0.0 pt | |
| Ineos Automotive | Total | 183 | 595 | -69.2% | 659 | 2,005 | -67.1% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Fisker | Total | 0 | 610 | -100.0% | 0 | 1,660 | -100.0% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Karma *2 | Total | 0 | 1 | -100.0% | 0 | 6 | -100.0% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| VinFast *2 | Total | N/A | N/A | -% | N/A | N/A | -% |
| Share | -% | -% | -% | -% | -% | -% | |
| Others | Total | 1,914 | 1,699 | 12.7% | 5,312 | 4,656 | 14.1% |
| Share | 0.1% | 0.1% | 0.0 pt | 0.1% | 0.1% | 0.0 pt | |
| Grand Total *2 | 1,591,710 | 1,459,205 | 9.1% | 3,921,191 | 3,784,308 | 3.6% | |
*1 Includes Sprinter
*2 Estimates
USA - Top 10 best selling models
| - | Maker/Brand | Model | Mar. 2025 | Mar. 2024 | Y-o-Y | Jan.-Mar. 2025 |
Jan.-Mar. 2024 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Ford | Ford F-Series | 66,905 | 52,412 | 27.7% | 174,622 | 152,943 | 14.2% |
| 2 | Chevrolet | Silverado | 51,456 | 50,227 | 2.4% | 127,691 | 127,563 | 0.1% |
| 3 | Honda | CR-V | 45,577 | 36,655 | 24.3% | 103,313 | 95,038 | 8.7% |
| 4 | Toyota | RAV4 | 41,506 | 46,848 | -11.4% | 115,405 | 124,822 | -7.5% |
| 5 | Chevrolet | Equinox | 37,670 | 20,372 | 84.9% | 81,334 | 54,185 | 50.1% |
| 6 | GMC | GMC Sierra | 31,956 | 28,100 | 13.7% | 78,536 | 68,597 | 14.5% |
| 7 | Toyota | Camry | 29,660 | 30,078 | -1.4% | 70,302 | 78,337 | -10.3% |
| 8 | Ram (2021-) | Ram P/U | 29,303 | 32,577 | -10.1% | 76,828 | 89,417 | -14.1% |
| 9 | Tesla | Model Y | 28,000 | 34,300 | -18.4% | 78,500 | 89,100 | -11.9% |
| 10 | Nissan | Rogue | 24,823 | 38,711 | -35.9% | 62,111 | 90,804 | -31.6% |
Flash report, February 2025
Mar 4, 2025
U.S. auto sales down 2.3% in February, additional tariffs on Mexico and Canada cause for concernThe number of new vehicles sold in the U.S. in February 2025 (preliminary figures including estimates for GM/Stellantis/Tesla, etc.), as aggregated by MarkLines as of March 4, was 1,221,863 units, down 2.3% y/y. The number of business days in February was 24, one day less than the same month last year. Although GM, Hyundai, Kia, and Subaru maintained strong sales, they were unable to offset the double-digit % decline of Ford and Stellantis. Light vehicle seasonally adjusted annualized sales (SAAR) for February 2025 was 16.0 million units versus 15.7 million units one year ago.
The Trump administration has postponed for a month the additional 25% tariffs on Canada and Mexico that it had announced would take effect on February 1, but the latest information strengthens the likelihood that they will go into effect on March 4. The impact on the auto industry is inevitable, and automakers with production bases in either country (GM, Ford, Stellantis, Toyota, Honda, Nissan, Mazda, BMW, VW Group, Hyundai Group, etc.) and suppliers who support automakers' production by providing parts will be required to make difficult decisions, including the transfer of production, if negotiations to reach a conclusion between the countries concerned are protracted. GM, Nissan, and Mazda, which import a high percentage of their vehicles sold in the U.S. from Mexico, are concerned about the magnitude of the impact. If supply chains are disrupted, it cannot be ruled out that U.S. inventories, which have been on the road to recovery, will once again become scarce. The Trump administration announced in February that it would impose an additional 25% tariff on steel and aluminum imports for all countries, and there is also concern that tariffs could raise vehicle prices. On the other hand, if the federal tax credit for electric vehicles (EVs) is eliminated, it will not only depress demand for EVs, but ironically, it will also increase demand for hybrid vehicles (HVs), which are already facing tight inventory conditions.
Looking at February sales by vehicle type, light truck sales were up 0.8% y/y to 1,001,027 units, while passenger car sales were down 14.1% y/y to 220,836 units.
According to U.S. media on March 4, total inventory at the beginning of February was 2.95 million units, and among major brands, Lincoln had a higher inventory at 142 days, Ford 101 days, Jeep and Dodge 95 days, and Ram and Buick 90 days at the end of January 2025 by brand. Meanwhile, among Japanese-affiliated brands, Toyota, Lexus, Honda, Acura, Nissan, and Infiniti were 30, 27, 55, 65, 68, and 90 days in stock, respectively. Other Japanese brands include Subaru 46 days, Mazda 53 days, and Mitsubishi 44 days. Korean brands that continue to enjoy strong sales include Hyundai 69 days, Genesis 70 days, and Kia 49 days.
Sales of new vehicles by type
| Type | 2025 | 2024 | Y-o-Y | 2025 | 2024 | Y-o-Y |
|---|---|---|---|---|---|---|
| Feb. | Feb. | Jan.-Feb. | Jan.-Feb. | |||
| Passenger Cars | 220,836 | 257,014 | -14.1% | 432,425 | 485,432 | -10.9% |
| Light Trucks (Pickup Truck, SUV) | 1,001,027 | 993,161 | 0.8% | 1,902,382 | 1,837,281 | 3.5% |
| Total | 1,221,863 | 1,250,175 | -2.3% | 2,334,807 | 2,322,713 | 0.5% |
Sales of U.S. automakers in February were up 9.1% y/y for GM, although they missed double-digit growth for the fifth consecutive month. Ford's sales fell 11.2%, the third consecutive monthly decline. Stellantis sales were down 16.6% for the fourth consecutive month, and Tesla’s sales were down 5.0% for the fourth consecutive month, as both automakers continued their declines.
In February, Toyota's sales fell 4.8% y/y for the third consecutive month due to a shortage of inventory of certain models. Honda's sales fell 2.8% due to a shortage of supply of some models, although demand was driven by HVs. Nissan was down 2.7% and Subaru maintained positive sales for the 31st consecutive month with a 4.1% increase. Mazda posted its 10th consecutive monthly sales increase, up 2.6%, thanks to strong sales of SUVs, while Mitsubishi's sales declined 9.2%.
Sales of Korean automakers in February continued to be boosted by sales of SUVs and electric vehicles, with Hyundai Motor and Kia up 4.1% and 7.2%, respectively. Both automakers posted year-on-year sales increases for the fifth consecutive month and set new monthly sales records for the fifth consecutive month.
In February, VW sales were up 9.3%, Mercedes-Benz sales were down 1.5%, BMW sales were down 3.9%, Audi sales were down 5.3%, and Volvo sales were up 34.4%.
USA - Sales of passenger cars and light commercial vehicles (Click for data by model)
| Feb. 2025 | Feb. 2024 | y-o-y | Jan.-Feb. 2025 |
Jan.-Feb. 2024 |
y-o-y | ||
|---|---|---|---|---|---|---|---|
| GM *2 | Total | 215,228 | 197,201 | 9.1% | 409,136 | 360,758 | 13.4% |
| Share | 17.6% | 15.8% | 1.8 pt | 17.5% | 15.5% | 2.0 pt | |
| Toyota *2 | Total | 175,400 | 184,290 | -4.8% | 338,984 | 349,916 | -3.1% |
| Share | 14.4% | 14.7% | -0.4 pt | 14.5% | 15.1% | -0.5 pt | |
| Ford | Total | 153,756 | 173,065 | -11.2% | 289,534 | 324,945 | -10.9% |
| Share | 12.6% | 13.8% | -1.3 pt | 12.4% | 14.0% | -1.6 pt | |
| Honda | Total | 107,018 | 110,110 | -2.8% | 203,764 | 203,320 | 0.2% |
| Share | 8.8% | 8.8% | 0.0 pt | 8.7% | 8.8% | 0.0 pt | |
| Stellantis *2 | Total | 91,238 | 109,420 | -16.6% | 173,916 | 206,721 | -15.9% |
| Share | 7.5% | 8.8% | -1.3 pt | 7.4% | 8.9% | -1.5 pt | |
| Nissan *2 | Total | 89,168 | 91,621 | -2.7% | 157,111 | 150,746 | 4.2% |
| Share | 7.3% | 7.3% | 0.0 pt | 6.7% | 6.5% | 0.2 pt | |
| Hyundai | Total | 67,605 | 64,946 | 4.1% | 126,964 | 116,758 | 8.7% |
| Share | 5.5% | 5.2% | 0.3 pt | 5.4% | 5.0% | 0.4 pt | |
| Kia | Total | 63,303 | 59,059 | 7.2% | 120,302 | 110,150 | 9.2% |
| Share | 5.2% | 4.7% | 0.5 pt | 5.2% | 4.7% | 0.4 pt | |
| Subaru | Total | 49,125 | 47,189 | 4.1% | 95,479 | 91,699 | 4.1% |
| Share | 4.0% | 3.8% | 0.2 pt | 4.1% | 3.9% | 0.1 pt | |
| Tesla *2 | Total | 42,000 | 44,200 | -5.0% | 83,900 | 89,700 | -6.5% |
| Share | 3.4% | 3.5% | -0.1 pt | 3.6% | 3.9% | -0.3 pt | |
| Mazda | Total | 33,548 | 32,705 | 2.6% | 67,238 | 62,984 | 6.8% |
| Share | 2.7% | 2.6% | 0.1 pt | 2.9% | 2.7% | 0.2 pt | |
| VW *2 | Total | 28,443 | 26,029 | 9.3% | 55,967 | 47,483 | 17.9% |
| Share | 2.3% | 2.1% | 0.2 pt | 2.4% | 2.0% | 0.4 pt | |
| Mercedes *1 *2 | Total | 26,993 | 27,410 | -1.5% | 54,351 | 50,967 | 6.6% |
| Share | 2.2% | 2.2% | 0.0 pt | 2.3% | 2.2% | 0.1 pt | |
| BMW *2 | Total | 25,311 | 26,347 | -3.9% | 50,081 | 49,307 | 1.6% |
| Share | 2.1% | 2.1% | 0.0 pt | 2.1% | 2.1% | 0.0 pt | |
| Audi *2 | Total | 13,595 | 14,357 | -5.3% | 27,684 | 27,045 | 2.4% |
| Share | 1.1% | 1.1% | 0.0 pt | 1.2% | 1.2% | 0.0 pt | |
| Volvo *2 | Total | 10,644 | 7,920 | 34.4% | 18,780 | 15,636 | 20.1% |
| Share | 0.9% | 0.6% | 0.2 pt | 0.8% | 0.7% | 0.1 pt | |
| Land Rover *2 | Total | 8,482 | 8,205 | 3.4% | 17,143 | 14,360 | 19.4% |
| Share | 0.7% | 0.7% | 0.0 pt | 0.7% | 0.6% | 0.1 pt | |
| Mitsubishi | Total | 8,007 | 8,823 | -9.2% | 15,501 | 16,036 | -3.3% |
| Share | 0.7% | 0.7% | -0.1 pt | 0.7% | 0.7% | 0.0 pt | |
| Porsche *2 | Total | 4,502 | 5,197 | -13.4% | 11,000 | 10,486 | 4.9% |
| Share | 0.4% | 0.4% | 0.0 pt | 0.5% | 0.5% | 0.0 pt | |
| Rivian *2 | Total | 3,504 | 5,168 | -32.2% | 7,015 | 10,195 | -31.2% |
| Share | 0.3% | 0.4% | -0.1 pt | 0.3% | 0.4% | -0.1 pt | |
| MINI *2 | Total | 2,117 | 2,192 | -3.4% | 3,901 | 4,120 | -5.3% |
| Share | 0.2% | 0.2% | 0.0 pt | 0.2% | 0.2% | 0.0 pt | |
| Polestar *2 | Total | 377 | 678 | -44.4% | 1,618 | 1,520 | 6.4% |
| Share | 0.0% | 0.1% | 0.0 pt | 0.1% | 0.1% | 0.0 pt | |
| Lucid Motors *2 | Total | 305 | 603 | -49.4% | 411 | 1,042 | -60.6% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Jaguar *2 | Total | 304 | 675 | -55.0% | 1,153 | 1,397 | -17.5% |
| Share | 0.0% | 0.1% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Ineos Automotive | Total | 175 | 650 | -73.1% | 476 | 1,410 | -66.2% |
| Share | 0.0% | 0.1% | 0.0 pt | 0.0% | 0.1% | 0.0 pt | |
| Fisker | Total | 0 | 515 | -100.0% | 0 | 1,050 | -100.0% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| Karma *2 | Total | 0 | 1 | -100.0% | 0 | 5 | -100.0% |
| Share | 0.0% | 0.0% | 0.0 pt | 0.0% | 0.0% | 0.0 pt | |
| VinFast *2 | Total | N/A | N/A | -% | N/A | N/A | -% |
| Share | -% | -% | -% | -% | -% | -% | |
| Others | Total | 1,715 | 1,599 | 7.3% | 3,398 | 2,957 | 14.9% |
| Share | 0.1% | 0.1% | 0.0 pt | 0.1% | 0.1% | 0.0 pt | |
| Grand Total *2 | 1,221,863 | 1,250,175 | -2.3% | 2,334,807 | 2,322,713 | 0.5% | |
*1 Includes Sprinter
*2 Estimates
USA - Top 10 best selling models
| - | Maker/Brand | Model | Feb. 2025 | Feb. 2024 | Y-o-Y | Jan.-Feb. 2025 |
Jan.-Feb. 2024 |
Y-o-Y |
|---|---|---|---|---|---|---|---|---|
| 1 | Ford | Ford F-Series | 55,262 | 51,829 | 6.6% | 107,717 | 100,531 | 7.1% |
| 2 | Chevrolet | Silverado | 41,265 | 43,212 | -4.5% | 76,235 | 77,336 | -1.4% |
| 3 | Toyota | RAV4 | 37,648 | 42,611 | -11.6% | 73,899 | 77,974 | -5.2% |
| 4 | Honda | CR-V | 30,463 | 32,031 | -4.9% | 57,736 | 58,383 | -1.1% |
| 5 | Tesla | Model Y | 26,000 | 28,400 | -8.5% | 50,500 | 54,800 | -7.8% |
| 6 | Ram (2021-) | Ram P/U | 24,879 | 27,106 | -8.2% | 47,525 | 56,840 | -16.4% |
| 7 | GMC | GMC Sierra | 24,668 | 22,142 | 11.4% | 46,580 | 40,497 | 15.0% |
| 8 | Chevrolet | Equinox | 22,912 | 20,152 | 13.7% | 43,664 | 33,813 | 29.1% |
| 9 | Toyota | Camry | 21,645 | 26,199 | -17.4% | 40,642 | 48,259 | -15.8% |
| 10 | Nissan | Rogue | 19,495 | 35,666 | -45.3% | 37,288 | 52,093 | -28.4% |
Flash report, January 2025
Feb 4, 2025
U.S. auto sales up 3.8% in January, fourth consecutive month of gains
Note: Some figures were updated on February 10.
The number of new vehicles sold in the U.S. in January 2025, as aggregated by MarkLines as of February 4 (preliminary figures including estimates for GM/Stellantis/Tesla and others), was 1,112,944 units, up 3.8% from the same month last year.
January is usually a time of seasonal decline in new vehicle sales due to factors such as severe cold weather, but last month the market continued its strong performance from last year, with four consecutive months of growth. Honda, Hyundai, and Kia led the market with strong sales of electric vehicles. The number of business days in January was 25, the same as in the same month last year. The U.S. has agreed with Canada and Mexico to postpone for one month the 25% tariff measures that were scheduled to take effect at midnight on February 4. Since the major models of automakers are manufactured in Canada and Mexico, the tariffs will inevitably affect vehicle prices, inventories, and supply chains. In addition, the elimination of the U.S. federal tax credit for electric vehicles (EVs) is expected to further increase demand for hybrid vehicles (HVs).
By vehicle type, sales of light trucks were up 8.9% y-o-y to 919,290 units, while passenger cars decreased 15.2% to 193,654 units.
According to U.S. media on February 4, total inventory in early January was 2.88 million vehicles. By brand, Fiat, Dodge, Lincoln and Buick were large inventory with 122, 87, 86 and 85 days of inventory (end of December), respectively. Meanwhile, Japanese-affiliated brands include Toyota with 22 days, Lexus with 14 days, Honda with 39 days, Acura with 52 days, Nissan with 65 days, and Infiniti with 62 days. Other Japanese-affiliated brands include Subaru, Mazda, and Mitsubishi on 32, 41, and 37 days, respectively. The inventory of hybrid vehicles (HVs), which continue to enjoy strong sales, is said to be in short supply.
Sales of new vehicles by type
| Type | 2025 | 2024 | Y-o-Y |
|---|---|---|---|
| Jan. | Jan. | ||
| Passenger Cars | 193,654 | 228,418 | -15.2% |
| Light Trucks (Pickup Truck, SUV) | 919,290 | 844,120 | 8.9% |
| Total | 1,112,944 | 1,072,538 | 3.8% |
Source: MarkLines Data Center
Sales of U.S. automakers in January were up 18.6% y/y for GM, the automaker posted its fourth consecutive month of double-digit sales growth. Ford's sales fell 10.6% for the second consecutive month due to weak sales of SUVs. Stellantis sales fell 15.0% for the third consecutive month, and Tesla sales fell 7.9% for the third month in a row, as both companies continued to experience declines.
In January, Toyota's sales fell 1.2% for the second consecutive month due to inventory shortages of certain models. Honda sales were up 3.8%, led by demand for HVs. The company said that sales of electrified vehicles increased by more than 80% y/y. Nissan's sales were up 14.9% and Subaru maintained their 30th consecutive month of positive sales with a 4.1% increase. Mazda posted an 11.3% increase, its ninth consecutive monthly gain, on strong sales of SUVs, and Mitsubishi was up 3.9%.
Sales of Korean companies in January were up 14.6% for Hyundai and 11.6% for Kia, thanks to the contribution of electrified vehicles. Both companies posted double-digit gains, setting records for January, and both also posted their fourth consecutive month of growth.
Sales of European companies in January were up 28.3% for VW, up 16.1% for Mercedes Benz, up 7.9% for BMW, up 11.0% for Audi and up 5.4% for Volvo.
USA - Sales of passenger cars and light commercial vehicles (Click for data by model) (Sales figures of Volvo have been updated. February 10, 2025)
| Jan. 2025 | Jan. 2024 | Y-o-Y | ||
|---|---|---|---|---|
| GM *2 | Total | 193,908 | 163,557 | 18.6% |
| Share | 17.4% | 15.2% | 2.2 pt | |
| Toyota *2 | Total | 163,584 | 165,626 | -1.2% |
| Share | 14.7% | 15.4% | -0.7 pt | |
| Ford | Total | 135,778 | 151,880 | -10.6% |
| Share | 12.2% | 14.2% | -2.0 pt | |
| Honda | Total | 96,746 | 93,210 | 3.8% |
| Share | 8.7% | 8.7% | 0.0 pt | |
| Stellantis *2 | Total | 82,678 | 97,301 | -15.0% |
| Share | 7.4% | 9.1% | -1.6 pt | |
| Nissan *2 | Total | 67,943 | 59,125 | 14.9% |
| Share | 6.1% | 5.5% | 0.6 pt | |
| Hyundai | Total | 59,359 | 51,812 | 14.6% |
| Share | 5.3% | 4.8% | 0.5 pt | |
| Kia | Total | 56,999 | 51,091 | 11.6% |
| Share | 5.1% | 4.8% | 0.4 pt | |
| Subaru | Total | 46,354 | 44,510 | 4.1% |
| Share | 4.2% | 4.1% | 0.0 pt | |
| Tesla *2 | Total | 41,900 | 45,500 | -7.9% |
| Share | 3.8% | 4.2% | -0.5 pt | |
| Mazda | Total | 33,690 | 30,279 | 11.3% |
| Share | 3.0% | 2.8% | 0.2 pt | |
| VW *2 | Total | 27,524 | 21,454 | 28.3% |
| Share | 2.5% | 2.0% | 0.5 pt | |
| Mercedes *1 *2 | Total | 27,358 | 23,557 | 16.1% |
| Share | 2.5% | 2.2% | 0.3 pt | |
| BMW *2 | Total | 24,770 | 22,960 | 7.9% |
| Share | 2.2% | 2.1% | 0.1 pt | |
| Audi *2 | Total | 14,089 | 12,688 | 11.0% |
| Share | 1.3% | 1.2% | 0.1 pt | |
| Land Rover *2 | Total | 8,661 | 6,155 | 40.7% |
| Share | 0.8% | 0.6% | 0.2 pt | |
| Volvo *2 | Total | 8,136 | 7,716 | 5.4% |
| Share | 0.7% | 0.7% | 0.0 pt | |
| Mitsubishi | Total | 7,494 | 7,213 | 3.9% |
| Share | 0.7% | 0.7% | 0.0 pt | |
| Porsche *2 | Total | 6,498 | 5,289 | 22.9% |
| Share | 0.6% | 0.5% | 0.1 pt | |
| Rivian *2 | Total | 3,511 | 5,027 | -30.2% |
| Share | 0.3% | 0.5% | -0.2 pt | |
| MINI *2 | Total | 1,784 | 1,928 | -7.5% |
| Share | 0.2% | 0.2% | 0.0 pt | |
| Polestar *2 | Total | 1,241 | 842 | 47.4% |
| Share | 0.1% | 0.1% | 0.0 pt | |
| Jaguar *2 | Total | 849 | 722 | 17.6% |
| Share | 0.1% | 0.1% | 0.0 pt | |
| Ineos Automotive | Total | 301 | 760 | -60.4% |
| Share | 0.0% | 0.1% | 0.0 pt | |
| Lucid Motors *2 | Total | 106 | 439 | -75.9% |
| Share | 0.0% | 0.0% | 0.0 pt | |
| Fisker | Total | - | 535 | -% |
| Share | -% | 0.0% | -% | |
| Karma *2 | Total | - | 4 | -% |
| Share | -% | 0.0% | -% | |
| VinFast *2 | Total | N/A | N/A | -% |
| Share | -% | -% | -% | |
| Others | Total | 1,683 | 1,358 | 23.9% |
| Share | 0.2% | 0.1% | 0.0 pt | |
| Grand Total *2 | 1,112,944 | 1,072,538 | 3.8% | |
Source: Releases by each company, MarkLines Data Center
*1 Includes Sprinter
*2 Estimates
USA - Top 10 best selling models
| - | Maker/Brand | Model | Jan. 2025 | Jan. 2024 | Y-o-Y |
|---|---|---|---|---|---|
| 1 | Ford | Ford F-Series | 52,455 | 48,702 | 7.7% |
| 2 | Toyota | RAV4 | 36,251 | 35,363 | 2.5% |
| 3 | Chevrolet | Silverado | 34,970 | 34,124 | 2.5% |
| 4 | Honda | CR-V | 27,273 | 26,352 | 3.5% |
| 5 | Tesla | Model Y | 24,500 | 27,000 | -9.3% |
| 6 | Ram (2021-) | Ram P/U | 22,646 | 29,734 | -23.8% |
| 7 | GMC | GMC Sierra | 21,912 | 18,355 | 19.4% |
| 8 | Chevrolet | Equinox | 20,752 | 13,661 | 51.9% |
| 9 | Toyota | Camry | 18,997 | 22,060 | -13.9% |
| 10 | Toyota | Tacoma | 18,766 | 8,394 | 123.6% |
Source: MarkLines Data Center