#slump

Jaguar Land Rover marked the end of 2020 in a quagmire, a sales slump of more than 20 percent worldwide.

Toyota will end their fiscal year ending in March badly bruised. Financial Times reports that ToMoCo’s losses will be three times larger than previously forecast. The worst industry slump in decades has put a painful crimp in an amazing run. Last year, Toyota earned a record operating profit of $30b. In the same year, they became officially the world’s largest automaker, a title many had said should have been given to Toyota a year before. In November 2008, Toyota still projected a profit of $6.6b. Then, carmageddon caught up with them.

Audi’s quest to become America’s upmarket alpha has hit the wall. It might be the same wall Mercedes, BMW, Lexus, Cadillac et al. have struck, but it’s b-b-b-b-b-bad. You know sales suck when Audi PR doesn’t mention the actual percentage drop and headlines A5 and, worse (better?), R8 sales. “The Audi A5 posted a 76.3% increase over last January with 603 units sold in January 2009. The Audi R8 broke its January sales record with over 107 units sold, an increase of 75.4% over January’s sales a year ago.” Woo-hoo! Meanwhile, A4 sales evaporated, down 29.4 percent. The high profit A8 is DOA: sales off 65.1 percent. Sales of the TT roadster (-51.8%) and Q7 SUV (-44.7%) indicate two other dead models not selling.

Honda reported in with their sad sales numbers with unadjusted monthly sales down 27.9 percent. Fit sales were steady, up 5.9 percent. Accord and Civic took drubbings of minus 31 and minus 32 percent respectively, with the Civic Hybrid down 62 percent. Light truck sales were down 27 percent with the Odyssey minivan trailing an unusually heavy 38 percent hit. (The number one selling minivan nameplate just took a back seat to the rebate-stuffed Toyota Sienna.) Over on the Acura side, TSX buyers ignored TTAC reviews and sent sales up 16 percent, which comes out to a little over 300 cars. The more expensive numb-feeling, shovel-nosed sedan, the TL, was down 40 percent. The Acura CUVs got similarly neglected, down 46 percent. Needless to say, Honda’s management team is on the case. Well, someone’s case.