More from May and an Interesting Survey

No, we didn't name yesterday's May report news "May Flowers Pt. 1," but that's the cool thing about art; you can only do it moving forward (exactly like life).

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May Flowers Pt. 2

May was a poppin' for most of the automotive industry, with significant automakers reporting strong US light-vehicle sales and exports, which hit $3.2B over the month. Exports were down 6.2% year-over-year, but passenger cars were up 24% to about $1.12B of the total. Germany was the leading importer of US auto exports. Take that VW?

Toyota

• Sales rose 16% to 216,611 units in May.
• 39% of sales were hybrids, plug-in hybrids, hydrogen-powered, or electric vehicles.
• Toyota RAV4 sales surged by 27%.

Honda

• May sales climbed 6.4%, with Honda brand sales up 8.2%.
• CR-V deliveries increased by 11% and HR-V by 47%.
• The all-new Prologue EV began deliveries with 612 units.

Hyundai

• Posted a 12% gain in May light-vehicle sales.
• The eco-friendly lineup saw a 50% year-over-year increase.
• A notable drop in Elantra sedan sales by 15%.

Kia

• May deliveries increased by 5% to 75,156 units.
• Sportage crossover sales rose 21%, and Forte sedan 31%.
• New EV9 deliveries reached 2,187, a 39% gain over April 2024.

Subaru

• Sales grew 7% in May, with Crosstrek up 32% and Forester up 45%.
• Electric Solterra sales soared by 255%.

Mazda

• Reported a 6.9% increase in May sales, with best-ever sales of CX-50 (6,307 units) and CX-30 (8,305 units).
• The company's year-to-date sales are up 8.3%.

Consumers Still Favor ICE

A recent KPMG study reveals that Americans still favor gas vehicles over hybrids or EVs, even when prices and features are the same.

Only 20% of respondents would choose an EV over gas or hybrid vehicles.

60% of US consumers want EV charging times of 20 minutes or less, while 41% of auto executives think longer times are acceptable.

Consumers prioritize safety, WiFi, and charging locators over self-driving features and in-car entertainment.

The preference for gas vehicles persists despite a global push for EV adoption, causing automakers like Ford, GM, and Mercedes to rethink their EV strategies.

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Why should KPMG get to ask all the questions? We want to know from you:

What powertrain would you like to buy next?

• 🛢 Diesel
• ⛽️ Gasoline
• 🔌 Fully Electric
• 🔋 Hybrid
• 💧 Hydrogen
• 🚴‍♀️ Other (like pedal-power or something)