U.S. New Vehicle Sales Are on the Rise
A new report indicates US new car sales increased in Q2. Here’s how some of the nation’s most popular automakers performed during the last three months:
- Toyota: 7.1 percent increase
- GM: 18.9 percent increase
- Stellantis: 6.0 percent increase
- Ford: 9.9 percent increase
- Hyundai: 14.0 percent increase
In total, US auto dealerships sold about 1.37 million new vehicles in June, which translates to an annual sales rate of approximately 15.7 million units.
Analysts say the US auto industry’s growth is mainly being driven by a combination of improving supply and strong consumer demand. How long will this growth continue? Will it be sustainable in the long-term? Share your thoughts below!
