All articles tagged with #auto sales
U.S. auto sales reached their highest since 2019 in 2025, defying earlier expert predictions that Trump's trade policies would harm the industry. Major automakers reported record sales, and policies such as tariffs and regulatory changes are credited with boosting American vehicle manufacturing and saving consumers money.
CarMax reported a decline in used vehicle sales and earnings for Q3 FY2026, with leadership changes and ongoing cost reduction efforts, while auto finance income increased and share repurchases continued.
California has enacted the CARS Act, a comprehensive law signed by Governor Newsom that enhances consumer protections in auto sales, including stricter advertising rules, mandatory disclosure of costs, a three-day return policy for used cars under $50,000, and record-keeping requirements for dealerships, set to take effect in October 2026.
August retail sales increased by 0.6% from July, with a three-month average growth of 0.73%, indicating strong consumer spending despite inflation mainly driven by services. Auto sales showed volatility due to prior tariff fears, but overall retail categories like apparel, ecommerce, and restaurants are experiencing growth, reflecting robust consumer confidence and shifting purchasing patterns, including a move away from foreign direct sales and towards US-based retailers.
Retail sales increased by 0.5% in July, driven by auto sales and consumer purchases of furniture and other goods, amid economic uncertainty and anticipation of higher prices due to tariffs. The data suggests resilient consumer spending, although some of the increase may be attributed to price hikes and pre-tariff shopping behavior.
US auto sales surged earlier in the year due to consumers rushing to buy cars before tariffs increased prices, but the momentum has slowed down as demand cools, prices rise, and economic uncertainty grows, leading to a projected decline in annual sales to around 15 million vehicles in the second half of the year.
US auto sales declined sharply in June after a brief surge earlier in the year due to consumers rushing to buy cars before tariffs increased prices. Rising tariffs, inflation, and economic uncertainty have led to higher vehicle costs and reduced consumer demand, with analysts predicting continued slowdown and higher prices in the coming months.
Retail sales in the US declined by 0.9% in May, mainly due to a drop in auto sales and other categories, as consumers pulled back amid tariff concerns, though some discretionary spending remained resilient. Despite the decline, overall consumer spending is expected to grow in the upcoming quarter, supported by steady inflation and low unemployment.
US retail sales declined by 0.9% in May, the largest drop in two years, largely due to tariff-related uncertainty causing a frontloading of purchases earlier in the year, especially in autos. While core retail sales showed some resilience, economists warn of a potential slowdown as tariffs impact disposable incomes and consumer behavior in the coming months.
U.S. retail sales declined by 0.9% in May, driven by a drop in auto and appliance sales, amid ongoing tariff concerns, though some categories saw increased spending; the data complicates the economic outlook, reflecting consumer caution or a post-spending slowdown.
US retail sales fell by 0.9% in May, the largest drop in four months, mainly due to decreased auto purchases amid tariff concerns, but some sectors like online and clothing sales showed growth. Despite the decline, consumer spending remains supported by solid wage growth, though risks such as a slowing labor market and tariff impacts could dampen future growth.
The average age of cars, trucks, and SUVs in the US has reached a record 12.6 years in 2024 due to high new vehicle costs, though the growth in average age is slowing as new vehicle sales recover. With new vehicle prices averaging over $45,000, many consumers are keeping their older vehicles longer. Factors such as the decision between electric, hybrid, or gasoline vehicles and concerns about charging infrastructure also play a role. New vehicle sales are expected to rise to 16 million this year, which may stabilize the average vehicle age.
General Motors experienced a 14% increase in U.S. auto sales in 2023, selling 2.6 million vehicles as supply chain issues eased. However, Q4 sales showed signs of slowing, potentially due to rising interest rates. Electric vehicle sales grew, with GM selling nearly 76,000 units, but the overall EV market is expanding slower than anticipated. Despite the sales jump, GM's stock dropped by 2.5% following the announcement.
General Motors (GM) has maintained its position as the top-selling automaker in the U.S. for 2023, with sales up 14.1% to 2,594,698 units, surpassing Toyota's 6.6% increase to 2,248,477 vehicles. The U.S. auto industry experienced its best year since the pandemic, with total vehicle sales reaching 15,499,224, the highest since 2019. Despite high vehicle prices and interest rates, demand for new vehicles remained strong, with electric vehicle (EV) sales also on the rise, accounting for about 8% of total auto sales in 2023. However, analysts caution that high interest rates may dampen demand in the coming year, including for EVs.
While electric vehicle (EV) sales are growing, their pace is falling short of the industry's expectations, leading more US auto buyers to turn to gas-electric hybrids instead. In 2023, Americans have bought over 1 million hybrids, a 76% increase from the same period last year. Concerns about EV charging infrastructure, higher prices, and range anxiety are some of the reasons why hybrids have become the preferred choice for many buyers. Automakers are adjusting their plans and considering bringing back hybrids due to the surge in demand. However, analysts still believe that more EVs than hybrids will eventually be sold in the US, as the industry continues to improve charging infrastructure, battery technology, and reduce EV prices through tax credits.