Correction: A previous version of this story mistakenly included sales figures from Q3 2023. The Ford section of this story has been updated to reflect the automaker's recently published Q3 2024 sales results.
The third quarter was a mixed bag for automakers’ sales and delivery results.
Some OEMs reported gains — particularly within their electric vehicle segments — while others grappled with year-over-year declines.
A stark example of that trend is Stellantis subsidiary FCA US, which reported a 20% drop in Q3 sales compared to the same period last year.
The company said it introduced an “aggressive” incentive program at the beginning of the quarter to reduce inventory by 50,000 units, which is among the corrective actions it's taking in the market. Inventory levels were reduced by nearly 12%.
“These cross-brand incentives, which will continue through the end of the year, also helped to deliver consecutive month total share growth in Q3 from 7.2% in July to 8% in September,” said Matt Thompson, head of U.S. retail sales at Stellantis, in a press release.
Check out how other automakers fared in Q3 new vehicle sales in the roundup below.
Tesla
Tesla production outpaced deliveries in Q3, but its sales grew year over year, according to an Oct. 2 press release.
The EV maker delivered 462,890 vehicles during the quarter. That’s a 6% increase over Q3 2023, when it was upgrading its plants.
General Motors
While reporting an increase in retail sales, General Motors Co.’s Q3 vehicle deliveries were down 2% YoY for a total of 659,601 units.
EVs continue to be a bright spot for the automaker. It highlighted another record quarter for the segment, which included 32,095 total deliveries, up 60% YoY and up 46% compared to Q2.
Toyota
In Q3, Toyota Motor North America’s sales decreased 8% on a volume basis to 542,872 vehicles.
Sales of electrified models — which accounted for 41% of the automaker’s total sales during the period — totaled 255,863, up nearly 39%.
“We believe that our portfolio approach to electrification is the best pathway to carbon neutrality while giving customers a variety of powertrain options that fits their lifestyle,” said Jack Hollis, EVP of sales at Toyota Motor North America, in a press release.
Ford
Ford Motor Co. posted a slight sales increase of just under 1 percent in Q3 attributable to strong year-over-year performance in its electric and hybrid lines, which helped to offset a drop in sales of gas-powered vehicles.
The company’s quarterly EV sales were up 12%, while hybrid sales soared 38% compared to the same period last year. By contrast, sales of gas vehicles dropped nearly 3%.
However, the truck segment remained strong with a 6% increase compared to last year. The segment was led by the F-Series pickup, which saw a 4.2% YoY improvement.
BMW
BMW of North America’s Q3 sales were hurt by a recent stop-sale order in the U.S. and industry headwinds, the company said in a press release.
Sales in the U.S. totaled 78,128 vehicles, a roughly 7% decrease from the 83,949 vehicles the automaker sold in Q3 last year. EV sales were also down by about 6%.
“Given the circumstances we faced during parts of the third quarter, we are very happy with our results,” said Sebastian Mackensen, president and CEO of BMW of North America, in the release.
