MAZDA'S IS SHATTERING ALL-TIME RECORDS. TOYOTA, KIA SLIPPING IN 2024?

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Mazda is defying industry trends in July 2024, shattering all-time sales records with a remarkable 30% year-over-year increase and a staggering 133% year-to-date growth. This success is attributed to strong performance across its lineup, including the CX-50, CX-90, and Mazda 3, with the CX-50 production finally ramping up. Notably, Mazda achieves this without a heavy reliance on hybrids, distinguishing itself in a market increasingly focused on electrification. In contrast, Toyota and Kia are experiencing significant sales declines. Toyota's July sales dropped 5.1%, impacted by issues with models like the RAV4, Corolla, Tacoma, and Grand Highlander, though Lexus continues to perform strongly. Kia saw a 10% decrease in July, with its EV segment also underperforming. Honda and Subaru are maintaining steady growth, with Honda up 8% in July driven by strong Civic and CR-V sales, while Subaru continues its consistent month-over-month growth. The overall market faces headwinds from high prices and interest rates, leading to increased incentives across the industry.