Subaru’s U.S. sales slid 34 percent to 43,322 in March as light-vehicle inventory continues to be undermined by global microchip shortages and other supply chain issues.
It was the company’s 10th consecutive monthly decline. Subaru had less than a 25-day supply of vehicles throughout March, according to Cox Automotive data. Only Kia, Toyota and Lexus had leaner stockpiles last month.
All but two Subaru models saw month-over-month declines in March.
The Japanese automaker reported first-quarter sales of 132,346, down 18 percent from the same period a year earlier.
Notable nameplates: Outback, down 19% from March 2021; Forester, down 69%; Crosstrek, down 4.3%; Ascent, down 21%; Impreza, down 36%; WRX/STI, down 91%; BRZ, up 21%, Legacy, up 12%.
Incentives: $837 per vehicle in March, down 34% from a year earlier; $892 in the first quarter, down 32 percent from 2021, TrueCar says.
Average transaction price: $34,516, up 12% from a year earlier, according to TrueCar.
Fleet: Down 3.9% year over year, TrueCar estimates.
Did you know? In March, the Outback and Crosstrek were the top-performing vehicles by volume with sales of 13,808 and 13,460, respectively. The company has the lowest incentives among the top-selling automakers in the U.S. and is the only automaker with average new-vehicle incentives of less than $1,000 in the first quarter, according to TrueCar.