BMW NA released July sales numbers and the MINI brand is down 7.9% compared to July last year. This is the first single digit monthly drop in quite some time, showing that a new normal is starting to set in. What is odd is that MINI sales news is very bifurcated. World-wide, MINI is doing quite well. Here in the US, the brand continues to struggle. Premium and small never sell well in the US when gas prices and interest rates are low, and this months numbers continue to re-enforce those facts.
The four-door portfolio did quite well: Top volume went to the Countryman, then the Clubman and the 4-door Coupe. Convertible sales are helping, but the near doubling of rag-top sales only accounted for 264 addition units sold. The bad news is that for another month, the spirit of MINI, the 2 door coupe, sold less than 1000 units. Used sales were up this July, but not enough to offset losses in new car sales. Overall, MINI USA moved about 200 less cars this July than last.
Overall light vehicle sales are up 0.5% for the month (
without Land Rover, Jaguar or Porsche numbers reported. This will be updated after they report). After 6 years of increasing sales, all indications are that pent-up demand and the effects of cheap money and gas have run their course, and that sales will plateau this year. Considering most bull markets for cars last about 4 years, the industry is resigned to this year being the end of a very long, good run. Matt’s MINI Index is up a meager 1.3%, mostly due to Scion have a record breaking swan song year. And it also appears that Smart has stabilized. It seems that there are a bit less than 500 people a month in the US that think buying a Smart is a good idea.
Official News: Woodcliff Lake, NJ – August 2, 2016…
MINI Brand Sales
For July, MINI USA reported 4,774 automobiles sold, a decrease of 8.0 percent from the 5,191 sold in the same month a year ago. Year-to-date, MINI USA reported a total of 29,918 automobiles sold, a decrease of 15.6 percent from 35,451 automobiles sold in the first seven months of 2015.
MINI Pre-Owned Vehicles
- In July, sales of MINI Certified Pre-Owned set a July record with 1,197 vehicles, an increase of 8.0 percent from July 2015.
- Total MINI Pre-Owned sales also set a July record with 2,629 vehicles in 2016, an increase of 3.6 percent from July 2015.
- Total MINI Pre-Owned sales year-to-date were 16,296, a 5.1 percent increase from the first seven months of 2015.