Sales in Q3 are expected to surpass 3.9 million, a jump of more than 15% from the same timeframe one year ago.
It was a mixed bag as quarterly and year-end sales results for nearly all major automakers rolled in. GM led U.S. sales, while Hyundai and Kia set new sales records and Stellantis and Nissan were down in both Q4 and YOY.
Despite an over 20% decrease since August 2020, the Group still achieved a record high for the same period despite the pandemic and global supply shortages.
The decrease in U.S. auto sales is due to historically low new-vehicle inventory levels, which are over 50% lower than they were a year ago.
A new ranking index considers regulations and obstacles consumers face state-by-state in purchasing electric vehicles.
Calendar-year 2016 sales shows were strong, but there are headwinds buffeting 2017 auto sales, in particular, the risk of higher interest rates, and a weaker Mexican peso vis-à-vis the U.S. dollar.
In 2016, Canada experienced record auto sales, but lower oil prices have impacted the economy of Western Canada while low interest rates fueled new-vehicles sales. The forecast is for strong fleet sales in CY-2017.
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