* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, September 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

    Pendulum Announce Homecoming 2026 Australian Tour – yahoo.com

    Pendulum Announces Thrilling Homecoming Tour Across Australia in 2026

    ITV Studios Launches New Entertainment Label – Global Bulletin – IMDb

    ITV Studios Unveils Exciting New Entertainment Label

    TS Entertainment bringing Malibu Jack’s to former Owensboro mall – Lane Report

    TS Entertainment Launches Malibu Jack’s at Former Owensboro Mall Location

    Jenny Han Dropped a Major ‘The Summer I Turned Pretty’ Easter Egg Revealing [SPOILER] – yahoo.com

    Jenny Han Just Unveiled a Huge ‘The Summer I Turned Pretty’ Easter Egg That Changes Everything [SPOILER]

    Liam Payne’s Cousin Ross Harris Honors Late Singer With Emotional Song ‘Bones’ – yahoo.com

    Liam Payne’s Cousin Ross Harris Honors Late Singer with Emotional New Song ‘Bones

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

    Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

    Coherent Joins LLNL’s STARFIRE Diode Technology Working Group to Advance Inertial Fusion Energy – GlobeNewswire

    Coherent Partners with LLNL’s STARFIRE Team to Drive Breakthroughs in Inertial Fusion Energy

    Gene Associated With Deadly Heart Disease in Golden Retrievers Identified – Technology Networks

    Breakthrough Discovery Uncovers Gene Behind Deadly Heart Disease in Golden Retrievers

    Monkey Island LNG Picks ConocoPhillips’ Liquefaction Technology – Hart Energy

    Monkey Island LNG Selects ConocoPhillips’ Advanced Liquefaction Technology for Next-Gen Energy Solutions

    Credo Technology Group Holding Ltd. (CRDO) Surpasses Q1 Earnings and Revenue Estimates – Yahoo Finance

    Credo Technology Group Surpasses Q1 Earnings and Revenue Expectations

    The Economist is hiring a science and technology correspondent – The Economist

    Exciting Opportunity: Become Our Next Science and Technology Correspondent!

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Americans went on a car shopping spree in 2023 with sales rising 12% despite lofty prices and high interest rates

January 4, 2024
in Business
Americans went on a car shopping spree in 2023 with sales rising 12% despite lofty prices and high interest rates
Share on FacebookShare on Twitter

Undeterred by high prices, rising interest rates, autoworker strikes and a computer-chip shortage that slowed assembly lines, American consumers still bought 15.6 million new vehicles last year, 12% more than in 2022, the biggest increase in more than a decade.

Yet sales still haven’t returned to the 17 million rate in the years before the pandemic, and there are signs of a cooling market as buyers aren’t as willing to pay astronomical prices that dealers and manufacturers were charging just months ago.

“You see the consumer making a concerted effort to ensure that they’re getting the best price possible,” said Jonathan Chariff, CEO of South Automotive Group, a 10-dealership group in the Miami area. “They basically feel that this is the right time to buy from a perspective of being able to get the discounts.”

Average auto sales prices peaked in December of 2022 just over $47,300, with vehicles in short supply because of the global chip shortage that limited production. Some dealers were able to charge over the sticker price to buyers who needed a new ride or had the money to get one.

But the chip shortage gradually eased last year to the point where it’s nearly over, and assembly lines are running at near normal speeds. General Motors, Ford and Stellantis endured six-week strikes by the United Auto Workers that ended last fall. As a result, vehicle supplies on dealer lots are strong and growing, and prices are starting to fall as automakers and dealers dangle discounts.

Data from J.D. Power show that average prices in mid-December were down 2.7% from the peak, to around $46,000. But they’re still nowhere near pre-pandemic prices due to a 26% runup from 2020 to 2022 as cash-rich buyers drove up prices mainly by buying loaded-out trucks and SUVs. That was about 10 percentage points higher than the inflation rate for the same period.

Still, Jonathan Smoke, chief economist for Cox Automotive, said he expects the gap between the sticker price and the transaction price that consumers pay to widen this year. “We do think that the tables start to turn in 2024,” he said. “Discounting will be the key difference in why transaction prices are declining.”

Discounts, on average, more than doubled year over year in November, Smoke said. “I think we’re starting to see signs that manufacturers are starting to put more into making financing more attractive,” he said, adding that they’re also offering more attractive lease deals.

New vehicle loans averaged around 7% for most of the year, and those could drop even if the Federal Reserve doesn’t start to cut rates, Smoke said.

He and Chariff also say that dealers have had to discount as well. In South Florida, Chariff said he isn’t seeing customer demand back off. His dealerships had strong December sales without the normal lull during the week before Christmas.

There may be more buyers at the lower, more affordable end of the market, which already was heating up last year as supplies rose. For example, sales of the Chevrolet Trax small SUV, which starts at $21,495 including shipping, grew to more than 109,000 last year, four times the 2022 number.

Electric vehicle sales grew 47% to a record 1.19 million for the full year, according to Motorintelligence.com. The EV market share grew from 5.8% in 2022 to 7.6% last year. But EV sales growth slowed toward the end of the year. In December, they rose 34%.

Gas-electric hybrid sales grew 54% to 1.2 million last year, with market share leaping from 5.6% in 2022 to 7.7%.

Among manufacturers, General Motors, the top seller in the U.S., posted a strong 14% sales increase for the year. Toyota sales grew 7%, while Honda was up 33%. Nissan sales grew 23%, with Hyundai up 12%. Stellantis, maker of Jeep, Ram and other vehicles, saw its sales drop about 1% for the year.

Ford’s F-Series pickup trucks are likely to remain the top selling vehicle in the U.S. when the company reports numbers on Thursday. But General Motors said it sold more full-size pickups than Ford — 839,517 — with its Chevrolet Silverado and GMC Sierra combined.

Toyota’s RAV4 small SUV was the country’s top-selling vehicle that wasn’t a pickup truck. RAV4 sales rose 9% last year to almost 435,000.

Subscribe to the new Fortune CEO Weekly Europe newsletter to get corner office insights on the biggest business stories in Europe. Sign up for free.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Fortune – https://fortune.com/2024/01/03/us-new-vehicle-sales-rise-interest-rates-auto-strikes-2023/

Tags: Americans’businessshopping
Previous Post

Trial: Cleaner Cookstove Fuel Not Enough to Improve Infant Health

Next Post

Documents naming people in the orbit of sex offender Jeffrey Epstein are unsealed after a years-long battle over their release

WA Department of Ecology decries federal report that downplays climate change – KREM

WA Department of Ecology decries federal report that downplays climate change – KREM

September 7, 2025
This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

September 7, 2025
Diagnostic dilemma: Woman’s severe knee pain reveals ‘golden threads’ in her joints – Live Science

Mystery Solved: Woman’s Severe Knee Pain Traced to Shimmering ‘Golden Threads’ in Her Joints

September 7, 2025
PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

PHOTOS: All the celebrities at Aryna Sabalenka’s US Open final victory – Tennis.com

September 7, 2025
Health Technology Ecosystem – Centers for Medicare & Medicaid Services | CMS (.gov)

Discover the Future of Health Technology: Innovations Revolutionizing Patient Care

September 7, 2025
Vermont H.S. sports scores for Friday, Sept. 5: See how your favorite team fared – Burlington Free Press

Friday Night Showdowns: Vermont High School Sports Scores and Highlights from Sept. 5

September 7, 2025
Reformulation of general relativity brings it closer to Newtonian physics – Physics World

Reformulation of general relativity brings it closer to Newtonian physics – Physics World

September 7, 2025
Trump’s Economy Fails Arkansans as Unemployment Reaches Four-Year High – SWARK Today

Trump’s Economy Fails Arkansans as Unemployment Reaches Four-Year High – SWARK Today

September 7, 2025
Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

Victor Garber on his viral “And Just Like That” toilet scene: ‘I was delighted to be doing something ridiculous’ (exclusive) – yahoo.com

September 7, 2025
Heroes on the Hill event addresses mental health for vets, first responders – CBS News

Heroes on the Hill: Tackling Mental Health Challenges for Vets and First Responders

September 7, 2025

Categories

Archives

September 2025
MTWTFSS
1234567
891011121314
15161718192021
22232425262728
2930 
« Aug    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (811)
  • Economy (829)
  • Entertainment (21,706)
  • General (16,899)
  • Health (9,870)
  • Lifestyle (842)
  • News (22,149)
  • People (831)
  • Politics (835)
  • Science (16,039)
  • Sports (21,328)
  • Technology (15,809)
  • World (810)

Recent News

WA Department of Ecology decries federal report that downplays climate change – KREM

WA Department of Ecology decries federal report that downplays climate change – KREM

September 7, 2025
This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

This Week in Science: Out-of-Sync Seasons, Anti-Aging Breakthroughs, And More! – yahoo.com

September 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version