Car Sales Continue Hot Streak, but Market Shows Signs of Cooling
U.S. car sales continued at a blistering pace in the second quarter but showed some signs of slowing in June, as the number of vehicles on dealership lots continues to dwindle.
General Motors Co. reported a nearly 40% increase in vehicle sales for the second quarter compared with the same period a year ago. The Detroit auto maker’s sales were also up compared with the first quarter, but less so, rising 10% over that period.
Sales for Stellantis NV increased 32% in the second quarter, compared with the April-to-June period a year ago. The Jeep brand owner’s growth from the first quarter was more modest, up 3% in the second quarter compared with the first three months of the year.
Volkswagen AG reported its best first-half U.S. sales in nearly a half-century while managing tight supplies. The company now has about 32,000 vehicles in…