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Production is headed for 5-year highs. Are sales following suit?
| | Production soars to long-time highs... are sales following suit?
In our August Trends to Watch Report, we noted that despite challenges related to inventory control and plant changeovers, production in the second quarter was on track to reach a 5-year high, with third-quarter projections set to be the strongest since 2016.
However, sales have not been following the same trend. U.S. sales have remained stagnant for over a year, and July’s seasonally adjusted annual rate of 15.8 million units barely outpaced the 15.6 million monthly average we have been seeing since April 2023.
The primary factors behind this lag in sales growth include the limited availability of more affordable vehicles on dealer lots and a shortage of updated mainstream models. |
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| | | MEET OUR MARKETS AND FORECASTS EXPERT | | | | |
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Haig Stoddard is Wards Intelligence's Principal Analyst for Forecast and Analytics.
He provides insights on North American production, sales analysis, forecasts, and global market trends. He also develops vehicle-based forecasts on factory-installed equipment like ADAS and mobility.
Do you have a question for Haig on the automotive market? Get in touch on WardsAskAnAnalyst@informa.com. |
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