First-quarter U.S. auto deliveries fell at most major automakers as affordability pressures, rising gas prices, weak hiring and the absence of a federal EV tax credit weighed on demand, while Hyundai and Kia posted gains.
Deliveries declined at General Motors, Toyota Motor Corp., Ford Motor Co., Honda Motor Co. and Nissan Motor Co.; Lexus recorded its first quarterly drop in more than three years, and smaller import-reliant brands saw steep losses with Mazda down 14 percent, Mitsubishi 15 percent and Subaru down 15 percent for the quarter.
Hyundai rose 1 percent to 205,388 and Kia rose 4.1 percent to 207,015, both setting records and extending Hyundai-Kia's sixth consecutive quarter of growth in the U.S. auto market, with Kia reporting hybrid sales up 73 percent and electrified models up 30 percent. Stellantis posted its third straight quarterly gain, and Ford said the Bronco Sport set a first-quarter record of 35,021 units after the company discontinued the Escape.
Read the full article at jalopnik.com.
More automotive news: Latest car news