The Korea Herald

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Japan Big Three carmakers’ U.S. deliveries decline

By Korea Herald

Published : Oct. 6, 2013 - 19:25

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Toyota Motor Corp., Honda Motor Co. and Nissan Motor Co., Japan’s Big Three carmakers, all reported U.S. sales declines in September with tight supplies of some models after August’s surge and fewer weekend selling days.

Toyota, the world’s largest automaker, posted a 4.3 percent decrease last month, and Nissan’s sales fell 5.5 percent, bigger declines than analysts expected. Honda, most reliant on the U.S. among Japan’s automakers, had a 9.9 percent sales drop that topped analysts’ estimates. Only Fuji Heavy Industries Ltd.’s Subaru among Asian auto brands expanded sales, reporting a 15 percent increase for September compared with a year earlier.

“A big factor was that Labor Day weekend sales were pulled ahead into August,” said Bill Visnic, senior industry analyst for Edmunds.com. “For Toyota and Honda, their supplies looked a little tight. Honda may have had a particular problem in that it was less prepared for consumers to return to light trucks.”

September looks like a lull for auto sales that remain on pace for the best volume since 2007. Deliveries for the first two days of September, including the Labor Day holiday, did not contribute to automakers’ tallies as they were counted in August figures. Industrywide sales slipped 4.2 percent in September, the first decline in 27 months, according to Autodata Corp.

Deliveries of new cars and light trucks slid to 1.14 million, in line with the average of 10 estimates in a Bloomberg survey. The annualized industry sales rate, adjusted for seasonal trends, climbed to 15.3 million, according to Autodata, missing the 15.4 million average of 16 estimates.

Combined sales for Japanese and Korean brands dropped 7.2 percent, cutting their market share to 44.6 percent from 46.1 percent a year ago. Toyota, which outsold Ford Motor Co. in July and August, fell back to third in the U.S., while Honda fell to fifth in volume after topping Chrysler Group LLC in July and August. (Bloomberg)

“I don’t think there’s anything in this month that looks to me like an inflection point for anybody,” Kevin Tynan, auto analyst for Bloomberg Industries, said in an interview.

Toyota sold 164,457 Toyota, Lexus and Scion vehicles last month, compared with 171,910 a year ago. The company’s 4.3 percent drop compared with an expected 2.5 percent decline, the average of seven analysts surveyed by Bloomberg.

Toyota’s Camry remained the best-selling U.S. car with sales of 31,871, down 7 percent from a year ago. The company‘s new Corolla helped the small car line eke out an increase and top Honda‘s Civic, the best-selling compact this year.

“September was the first full month for the new Corolla and it’s off to a great start,” Bill Fay, U.S. group vice president of Toyota brand sales, said yesterday on a conference call. (Bloomberg)