New Car Sales Strong in 2023

Dec. 28, 2023
A report from Cox Automotive shows that overall new car sales are 11 percent above the previous year.

Cox Automotive research says that new car sales in 2023 will top 15.5 million units, which is up 11 percent from 2022 but down from a peak in 2019.

According to a press release, most OEMs expect improvements in their sales for 2023 by year's end. The only exception might be Stellantis. General Motors, Toyota, and Ford are the top-selling brands this year. Tesla is the notable EV company, coming in with fewer sales than the likes of Hyundai, Stellantis, and Nissan but beating out companies like VW, Subaru, and Mazda. These figures are for U.S. auto sales.

Cox expects sales success to continue in 2024, though its press release says that it may look more like a buyer's market than a seller's market in the coming year.

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