Nissan, Toyota, and Honda U.S. light vehicle unit sales were down 14-18% in Sep 2019 vs. prior year.
Meanwhile, Tesla Q3 unit sales are expected to rise ~100% YOY.
The sales slowdown has the potential to put auto dealers already struggling with shrinking profit margins in an even more precarious position. With outgoing model-year vehicles clogging their lots, automakers had to pony up record incentive spending of more than $4,100 a vehicle in the third quarter, according to researchers at J.D. Power and LMC Automotive.
Subaru Corp.’s streak of monthly sales increases is over. The Japanese carmaker’s run ended in September after 93 months. Deliveries dropped 9.4%.
Sales of Nissan brand pickups and sport utility vehicles -- which tend to be more lucrative than passenger cars -- dropped 21%, while deliveries for the Infiniti luxury division fell 44%.
Toyota Motor Corp. saw it sales plunge 16% in September, with both its namesake and Lexus luxury brands declining by double-digit percentages. Deliveries fell for almost every model, including its best-selling RAV4 crossover and Camry sedan.
Who will survive the coming bloodbath? Model 3 is the best car, for value. V10 has the most features, entertainment, Smart Summon, Autopilot and Full Self Driving on the way with OTA updates.
Look for Tesla and others to assault the "protected" business of SUV and Trucks within the next 18 months.