Auto sales took a hit last year due to high inflation, interest rate hikes, and supply chain disruptions. However, this year has begun on a much better note, with easing inflation and supply chain constraints leading to robust car sales.
Improving supply and pent-up demand led to auto sales rising 16.8% from April through June to around 4.1 million units. According to Wards Intelligence, U.S. new vehicle sales in June were 1.37 million units.
