Wednesday, December 07, 2022

Car sales down in the US

Car sales down in the US

GM sold 555,580 vehicles last quarter, up 24% over the same period last year, and remains number one in the United States.

Toyota for its part had recorded a 7% decline in its sales on US soil with 526,017 units.

Meanwhile, sales of FCA US, part of the Stelantis Group, also fell 6% to 385,665 units.

Ford, which will publish its sales figures on Tuesday, warned in mid-September that it would have between 40,000 and 50,000 vehicles manufactured by the end of that month, but due to supply problems persisting, affecting the entire sector. Do, lack. Which was explained in a statement by Jeff Komore, head of sales for FCA US in the United States.

In the meantime the GM seems to be correcting that situation. “Improved supply of semiconductors, stagnation of production and increased stock in dealers” allowed for a recovery of market shares, he said.

Specialty consultancy Cox Automotive last week lowered its forecast for US car sales in 2022 from 14.4 to 13.7 million.

“Recent changes in the economic outlook associated with rising interest rates are beginning to dampen demand, and new vehicles are likely to queue less,” Cox economist Charlie Chesbrough said in a statement.

Fuente: With info from AFP

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