In the world of auto sales, some brands are thriving while others are struggling to keep up. Let’s take a closer look at the winners and losers of Q3 2024.
Winner: Ford F-150 Lightning
Ford’s electric pickup, the F-150 Lightning, saw significant growth in sales during Q3 2024. With a 104 percent increase in sales compared to the previous year, Ford moved 7162 units of the Lightning. This marks an 86 percent increase in sales for the year overall. The F-150 Lightning’s success is a testament to the growing demand for electric vehicles in the market.
Winner: Nissan Leaf
Nissan also experienced success with the Leaf in Q3 2024. Sales of the Leaf increased by 187.5 percent, with 4514 units sold during the quarter. This surge in sales could be attributed to geographically targeted lease deals that make the Leaf an attractive option for consumers. Despite not being a favorite among electric vehicles, the affordability of the Leaf is hard to resist.
Winner: Mitsubishi Mirage
The subcompact Mitsubishi Mirage has seen a doubling in sales during Q3 2024 compared to the previous year. With 20,024 units sold so far, the Mirage has become the second bestselling Mitsubishi model. However, despite its popularity, Mitsubishi has decided to discontinue the Mirage for the 2025 model year, surprising many in the industry.
Loser: Ram
On the other hand, Ram’s sales have declined by 24 percent in Q3 2024. With just 268,666 pickups sold this year, Ram is facing tough competition from other domestic brands like Chevy, Ford, and GMC, who have reported slight increases in sales for their respective truck models.
Loser: Acura TLX
Acura is also facing challenges, with sales down 12.1 percent overall. The TLX sedan, in particular, has seen a significant decrease in sales, dropping by 56.5 percent in Q3 2024 compared to the previous year. This decline is a cause for concern for the luxury brand as it tries to regain its footing in the market.
Loser: Mini
Mini’s sales have decreased by 22.9 percent in Q3 2024, with just 17,552 units sold. This downward trend is concerning for the brand, especially when compared to other luxury brands like Cadillac. Mini will need to reassess its marketing and sales strategies to boost its performance in the coming quarters.
Loser: Toyota Highlander
Toyota’s Highlander SUV saw a significant decrease in sales, dropping by 44.1 percent in Q3 2024. Despite a strong showing in Q1 and Q2, the Highlander’s sales have been impacted, possibly due to the introduction of the Grand Highlander model. The competition within Toyota’s own lineup could be affecting the Highlander’s performance in the market.
In conclusion, the auto industry is a competitive landscape where brands must continuously innovate and adapt to changing consumer preferences. While some brands are experiencing growth and success, others are struggling to keep up with the pace. It will be interesting to see how these brands respond to the challenges they face in the coming months.
