New Vehicle Sales Expected to Drop in the Third Quarter, According to Edmunds

SANTA MONICA, Calif., Sept. 29, 2021 /PRNewswire/ -- The car shopping experts at Edmunds forecast that 3,416,266 new cars and trucks will be sold in the U.S. in the third quarter of 2021, which reflects a 13% decrease from the third quarter of 2020 and a 22.7% decrease compared to the second quarter of 2021.

Car-buying platform Edmunds.com serves nearly 20 million visitors each month. With Edmunds.com Price Promise(R), shoppers can buy smarter with instant, upfront prices for cars and trucks currently for sale at over 10,000 dealer franchises across the U.S.

"New vehicle sales in the third quarter have been a direct reflection of the worsening chipset and inventory situation."

"New vehicle sales in the third quarter have been a direct reflection of the worsening chipset and inventory situation. Although consumer demand continues to run high, sales have continued to slide downward each month because there simply aren't enough of the vehicles that shoppers want," said Jessica Caldwell, Edmunds' executive director of insights. "The entire U.S. auto industry — including the Asian manufacturers, which were doing a bit better than their domestic counterparts until recently — is in an incredibly volatile position right now and we are seeing inflated retail prices across the board. It's growing extraordinarily hard to predict who will come out on top heading into the rest of the year, as every automaker is at the mercy of its suppliers and challenged logistics around the globe."

Since Edmunds analysts expect this volatility to continue through the rest of 2021, they advise car shoppers to do extra research, be flexible, and brace themselves for higher prices and increased competition if they know they need to make a new vehicle purchase soon.

"If you're one of the millions of Americans with a lease ending this year and are happy with the car you have, consider buying out your vehicle or extending your lease to avoid the hassle of making a new purchase," said Ivan Drury, Edmunds' senior manager of insights. "If you do need to get into a new vehicle and see anything you like at this point, it's best to bite the bullet and make the purchase immediately. Don't wait as the situation could get worse, and don't try to pit dealers against one another for the best price: You'll more than likely end up empty-handed because there will likely be plenty of other shoppers vying for the same vehicle."

SALES VOLUME FORECAST, BY MANUFACTURER               

SalesVolume

2021 Q3
Forecast

Q3 2020
Sales

Q2 2021
Sales

Change from
Q3 2020

Change from
Q2 2021

Toyota

563,089

558,449

688,813

0.8%

-18.3%

GM

456,031

665,277

688,638

-31.5%

-33.8%

Stellantis

418,214

507,351

487,241

-17.6%

-14.2%

Ford

390,238

551,796

475,334

-29.3%

-17.9%

Hyundai/Kia

373,964

339,586

470,594

10.1%

-20.5%

Honda

370,198

388,433

486,419

-4.7%

-23.9%

Nissan

206,185

221,150

298,148

-6.8%

-30.8%

VW/Audi

138,522

135,063

190,419

2.6%

-27.3%

Industry

3,416,266

3,924,968

4,419,738

-13.0%

-22.7%

 

MARKET SHARE FORECAST, BY MANUFACTURER

Market Share

2021 Q3
Forecast

Q3 2020
Sales

Q2 2021
Sales

Change from
Q3 2020

Change from
Q2 2021

Toyota

16.5%

14.2%

15.6%

15.8%

5.8%

GM

13.3%

16.9%

15.6%

-21.2%

-14.3%

Stellantis

12.2%

12.9%

11.0%

-5.3%

11.0%

Ford

11.4%

14.1%

10.8%

-18.7%

6.2%

Hyundai/Kia

10.9%

8.7%

10.6%

26.5%

2.8%

Honda

10.8%

9.9%

11.0%

9.5%

-1.5%

Nissan

6.0%

5.6%

6.7%

7.1%

-10.5%

VW/Audi

4.1%

3.4%

4.3%

17.8%

-5.9%

About Edmunds
Edmunds guides car shoppers online from research to purchase. With in-depth reviews of every new vehicle, shopping tips from an in-house team of experts, plus a wealth of consumer and automotive market insights, Edmunds helps millions of shoppers each month select, price and buy a car with confidence. Regarded as one of America's best workplaces by Fortune and Great Place to Work, Edmunds is based in Santa Monica, California, and has a satellite office in Detroit, Michigan. Follow us on Twitter, Facebook and Instagram.

CONTACT:
Talia James-Armand
Associate Director, PR & Communications
PR@Edmunds.com
310-309-4900
http://edmunds.com/about/press

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SOURCE Edmunds

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