US sales at top automakers rise on improving inventory, Toyota struggles
Vehicle production took a hit after the pandemic disrupted supply of semiconductor chips and other raw materials, hurting carmakers' ability to meet the upsurge in demand for personal mobility. The companies have been trying to make up for the lost production ever since as supply chain snags gradually ease.
But rising interest rates and fears of a recession may play spoilsport in an industry where most vehicle purchases are financed with loans, analysts say, as they watch out for signs of plateauing demand. The average transaction price of vehicles, too, has surged over the last one year. "Consumers are facing credit uncertainty as rapidly rising interest rates have created barriers to entry for even the most qualified buyers," said Jessica Caldwell, executive director of insights at auto research firm Edmunds.Toyota
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