US new vehicle sales rise on strong demand, better supply
Jul 5th 2023 at 1:45PM
July 5 - New vehicle sales in the United States for top global automakers rose in the second quarter on improving supply and strong demand, signaling that rising interest rates have not yet had a meaningful impact on purchases. Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting automakers' ability to meet the upsurge for personal transport."The jobs market has remained healthy, and consumers have found a way to buy new wheels," said Cox Automotive's Chief Economist Jonathan Smoke.
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