Automakers are cautiously optimistic for a 2023 rebound after worst new vehicle sales in more than a decade
Publishing timestamp: 2023-01-06 11:00:01
Summary
Automakers are hopeful that last year's new vehicle sales, which were the worst in more than a decade, will mark the bottom of the market. Sales varied widely by automaker, but most were down compared to 2021. Automakers are cautiously optimistic that sales will rebound in 2023, with estimates ranging from 14.1 million to 15 million vehicles. Factors such as rising interest rates, higher gas prices, and broad inflation have dampened new vehicle demand.
Sentiment: NEUTRAL
Keywords: united states, economic events, toyota motor corp, ford motor co, business, honda motor co ltd, detroit, autos, business news, stellantis nv, transportation, breaking news: business, general motors co,
Source: https://www.cnbc.com/2023/01/06/2022-us-auto-sales-are-worst-in-more-than-a-decade-.html