US car sales up 13% in first half – Kommersant
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In the first six months of 2023, U.S. new car sales are up 13%. Growth exceeded analysts’ forecasts and, as noted The Wall Street Journal, suggests that consumer concerns about rising interest rates and inflation are receding. Consumers, who have been forced to wait nearly three years for global supply chains to recover and car shortages to end, are now investing in new vehicles.
About 7.7 million vehicles were sold in the US in the first half of the year, according to research firm Wards Intelligence. The company’s experts also calculated that about 1.9 million new vehicles were in or on their way to showrooms in June, up 52% from a year earlier.
The top performers in the first half of the year were General Motors, which sold 1.3 million vehicles, up 18% year-on-year, Honda Motor, which reported a 25% increase in sales thanks to increased inventory and the launch of several fuel-efficient models, and Hyundai Motor, whose sales in the US grew by 15%. Ford Motor should report on this indicator today, July 6, a little later.
At the same time, Stellantis and Toyota Motor sales in the first half of the year decreased by 1%. According to JDPower analysts, the average price paid by a buyer in the United States for a new car in the first half of the year was $46,000, which is 3% higher than a year earlier. This is close to a record level, although experts predicted that prices would decrease as the range of car dealerships replenished.
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