The Wall Street Journal reports sales of new cars in the U.S. are expected to have jumped 32% from the same period last year to 8.3 million units in the first half.
The Wall Street Journal says sales of new cars, mainly SUVs and electric cars, increased in the second quarter due to low interest rates, government subsidies, and avoidance of public transportation after Corona 19.
Toyota Motor, in particular, sold more than 688,800 units in the second quarter, up 73 percent from the same period last year, surpassing GM, or General Motors, for the first time in 23 years.
GM sold more than 688,200 units in the second quarter, up 40 percent from the same period last year, but was relegated to the top quarterly sales position for the first time since the third quarter of 1998.
Volkswagen also reported sales of more than 211,000 units in the first half of the year, the highest half in nearly 50 years.
Hyundai Motor and Kia Motors also sold 407,000 units and 378,000 units in the first half of the year, respectively, marking the highest sales ever.
The Wall Street Journal says new car inventories secured by vendors are decreasing due to the global semiconductor shortage, which has slowed sales growth since last month.
