A strike by UAW workers – or the threat that lingered before it started Sept. 15 – doesn’t seem to be affecting sales for automakers.
Ford said Wednesday it sold more than 500,000 new vehicles in the United States in the third quarter (July-September), up from 464,674 in the same period last year. On Tuesday, the rest of the auto industry also reported higher third-quarter sales.
General Motors Co. reported that its sales for the quarter were up 21%, having sold 674,336 vehicles. That total included some 20,000 electric vehicles. Those figures could start dropping, analysts said: GM’s Chevrolet Traverse and Buick Enclave SUV plant in Delta Township, a midsize pickup truck and commercial van plant near St. Louis, and parts distribution centers across the country are on strike. The strike has also halted production at GM’s plant in Kansas City, Kansas.
Other automakers reporting results, according to a report in The Detroit News: Toyota Motor said U.S. sales were up 12.2%, Honda’s rose 52.7%, Hyundai sales grew by 9%, and Nissan’s sales increased by 40.8%.
Sales at Stellantis NV fell 1% to 380,563 units, The News reported. Stellantis’ Jeep Wrangler and Gladiator plant in Toledo and all of its U.S. parts distribution centers are on strike.
Barclays analysts, in a note written Wednesday, said the strike had a “limited impact” on September sales, with the Detroit automakers reporting just a 1% sales decline vs. their average monthly sales year-to-date. Analysts expect greater disruption in the months to come but noted that the companies have a “fair level” of buffer stock on hand: “While certain D3 models/segments have more or less inventory than others — with large pickups/SUVs seeing higher inventory levels — we believe these inventories overall will likely be supportive of near-term sales volumes, at least at the current intensity and pace of the strike,” they wrote.
