Archives for April 2023

Finally: All three on the World’s Largest Automakers podium are reporting growth for the first quarter of 2023, signaling a possible end of the global chip shortage that dragged the industry down for the last two years.  Top-ranked Toyota Group is up 2.9% YOY.  March 31 also was the last day of Toyota’s April-March fiscal year, and the Toyota brand can be proud of having beaten its own 9.1 million unit target for the fiscal.

2^nd ranked Volkswagen finally got a grip on itself, reporting 7.5% growth in the first three months, due a herculean 23.9% growth in March.

The OEM to watch remains the Hyundai Group, up a strong 12.6% in the quarter. In March, Hyundai was up a mouth-dropping 40% at home in Korea, and up 21.3% around the world. In the same month, Kia was up a more sedate 10.9%.

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