Toyota Supra Sales Are on Life Support in 2023
As a performance-oriented sports car, the Toyota GR Supra faces stiff competition from class rivals, including the Chevy Corvette, Audi R8, BMW 8 Series, and BMW Z4. Although an affordable, well-rounded option for the class, Toyota Supra sales figures for the first half of 2023 lagged behind those from previous years. While some class leaders also faced lagging sales, others reported substantial gains for the period, particularly for June. So, what’s causing this stagnation for the Supra?
Declining 2023 Toyota Supra sales
Good Car Bad Car recently reported U.S. sales numbers comparisons of several models for the first half of 2023 and the month of June separately. For June, the report shows that Toyota sold 246 GR Supra models most recently. Compared to Supra’s 563 unit sales for the previous June, the report reveals a 56% decrease in sales.
Comparing 2023 year-to-date sales figures to the previous year reveals more disappointing news for Toyota. During the first half of 2022, Toyota sold 2,684 Supras, while 2023 sales stand at 1,621 units, a 40% decrease. As bad as that is, looking back at 2021, we see that Supra sales reached 4,548 units for the same period.
Other luxury sports cars sales figures
The BMW 8 Series is the only other class leader included in Good Car Bad Car’s data that reported declining sales figures for the first six months of 2023. In the first half of 2022, the BMW 8 Series sold 3,584 units, with 719 of those in June. Compared to 2023’s sales of 3,043 units for the first half and 497 in June, it shows a 15% decline for the six months and a 31% drop for June.
Chevy Corvette sales figures
The class-leading Chevrolet Corvette’s 2023 June sales increased over 2022’s figures, selling 3,081 units in 2023 and 2,840 last year, an 8% increase. However, sales dipped by 2% for the first six months of 2023 compared to the same period in 2022. The first half of 2023 saw 17,029 Corvette sales compared to 17,441 in 2022.
BMW Z4 sales figures
According to Good Car Bad Car’s data, the most significant gains among the class leaders belong to the BMW Z4 model. Although total sales don’t begin to approach the numbers posted by the Chevy Corvette, the percentages indicate strong growth potential. June BMW Z4 sales grew from 157 units in 2022 to 244 in 2023, a 55% increase. Annual first-half sales saw a 48% increase from 755 units in 2022 to 1,121 in 2023.
Why are Toyota Supra sales declining?
The Toyota GR Supra’s position at the lower end of the luxury sports car class likely causes buyers to consider more options, both on the higher and lower end of the price spectrum. U.S. News points out that other affordable sports cars, such as the Ford Mustang, provide similar or improved performance and handling at comparable budget-friendly prices. For reference, the Ford Mustang saw a 132% increase in sales for June, with 10,760 unit sales this year compared to 4,647 in 2022. Additionally, sales for the year’s first half increased 48% from 26,244 units in 2022 to 38,725 in 2023.
