Car Sales Continue Hot Streak, but Market Shows Signs of Cooling

U.S. car sales continued at a blistering pace in the second quarter but showed some signs of slowing in June, as the number of vehicles on dealership lots continues to dwindle.

General Motors Co. reported a nearly 40% increase in vehicle sales for the second quarter compared with the same period a year ago. The Detroit auto maker’s sales were also up compared with the first quarter, but less so, rising 10% over that period. Sales for Stellantis NV increased 32% in the second quarter, compared with the April-to-June period a year ago. The Jeep brand owner’s growth from the first quarter was more modest, up 3% in the second quarter compared with the first three months of the year.

Volkswagen AG reported its best first-half U.S. sales in nearly a half-century while managing tight supplies. The company now has about 32,000 vehicles in inventory while aiming to sell around 30,000 vehicles a month, said Scott Keogh, chief executive of Volkswagen’s North American subsidiary.

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The decline of the USA continues. Now it can no longer build cars.

Tomorrow they say Biden's economy is doing well. 🥴

I find it hard to understand why we emphasize company sales performance year-over-year rather than as part of the industry aggregate yoy. It’s great $GM saw a 40% jump in sales yoy... but we were all locked down a year ago. I want to know if they gained market share.

A direct result of allowing asia to copy cat American made cars while g.m. diversifies investments as of competition more like monopolization

He told me to get a car that is good on gas when that time comes.

HokkFinance

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Source: Forbes - 🏆 394. / 53 Read more »