Subaru Solterra U.S. Sales Hit October 2023 Record

Even with new-car interest rates rising, Subaru of America simply cannot be stopped. The automaker reported 53,772 vehicle sales in October, which was up 10.7 percent year-over-year and marked 15 consecutive months of year-over-year growth. And especially interesting is the fact that sales of the electric Subaru Solterra are growing too. 

The company reported that in October, it moved 1,210 examples of the Solterra, which is also 2.3 percent of its total volume. That’s a new monthly record for Subaru, and while it’s considerably smaller than other brands – Hyundai sold more than twice as many Ioniq 5s last month, for example – it shows promise for Subaru’s nascent EV operation. 

Gallery: 2023 Subaru Solterra

The Solterra is Subaru’s lone EV offering and it’s not made by the automaker itself, but is rather an adaptation of the Toyota bZ4x. That strategy seems to be changing quickly, however. In addition to showing off a sporty EV concept at the Japan Mobility Show last week, Subaru now aims to sell 600,000 EVs per year by 2030 and has eight new electric models planned for the next few years. 

Subaru fans are likely to be pleased by this expansion of EV options, but the automaker is hardly hurting at the moment. So far this year, the company sold 520,992 cars in the United States, which is 15.9 percent more than a year ago.

Subaru BEV sales last month (YOY change):

• Solterra: 1,210 (new) and 2.3% share

Subaru Solterra sales in the US – October 2023

So far this year, Subaru Solterra sales in the U.S. amounted to 6,973 (about 1.3 percent of Subaru’s total sales).

Subaru BEV sales year-to-date (YOY change):

• Solterra: 6,973 (new) and 1.3% share

It’s worth noting that during the third quarter of 2023, the Solterra’s sales volume was similar to the sales volume of the bZ4X and about twice as high as the similarly related Lexus RZ 450e. The trio of Japanese electric cars, counted together, already exceeded 15,000 sales.

The recently announced switch from the CCS to the NACS charging connector starting in 2025, also should improve their value and translate into higher sales.

Currently, the all-wheel drive Subaru Solterra starts at an MSRP of $44,995 (+$1,225 DST) and offers up to 228 miles of EPA Combined range, using a 72.8-kilowatt-hour battery.

Prices

* Federal tax credit of up to $7,500 might be available through leasing.

Source: Read Full Article