US Q1 Vehicle Sales Impress: Will Momentum Sustain in Q2?
Zacks Investment Research | Apr 06, 2021 07:19AM ET
Vehicle sales in the United States are off to a strong start this year, as reflected by the robust first-quarter sales report by most automakers. In fact, quite a few auto biggies enjoyed double-digit sales growth compared with the corresponding quarter of 2020. Demand for vehicles has been strong amid preference for personal mobility, widespread vaccination drive, optimism around federal aid and the gradual reopening of activities.
The U.S. auto industry recorded the best March sales in more than 20 years. Per JD (NASDAQ:JD) Power, first-quarter retail sales soared 26% primarily on the back of rising popularity of trucks and SUVs. While buyers’ appetite for personal vehicles have remained strong and is likely to continue being so, will the auto industry be able to meet the mounting demand amid global chip crunch and falling inventories? Before we delve into that, below is a gist of sales reports by major automakers for first-quarter 2020.
h3 Rundown of Q1 Sales Figures of Auto Biggies/h3U.S. auto biggie General Motors Zacks Investment Research
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