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Fundamental, Research

Automobiles: Auto Sales Slump Could Be Precursor to Production Cuts

Garrett Nelson, VP of Equity Research

03 May 2023

Summary

Last year, U.S. new vehicle sales hit their lowest level since 2011 at 13.7 million units (-8% Y/Y), as the combination of record-high new vehicle prices, rising interest rates, and the impact of inflation on household budgets caused auto buyers to pull back from the market.

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