All major automakers — including General Motors and Toyota — reported more new vehicle sales during the second quarter of 2023.
The company quarterly reports, released on Wednesday, indicate that industrywide supply chain problems are beginning to ease and that demand remains strong despite rising interest rates.
This is the strongest indication yet that the auto industry is bouncing back after pandemic-related parts shortages and stalled deliveries.
The largest U.S. automaker, General Motors, reported sales of 691,978 vehicles between April and June, a 19% increase over a year ago and the company’s highest quarterly total in more than two years.
