Auto Sales Forecast 2023
If you’re planning on buying a car in the next couple of years, you might be interested in what the auto sales forecast says. Fortunately, you can easily find out. Here’s a quick overview of some of the major car manufacturers, including Ford, Toyota, and Honda. Also, you’ll find out how the sales numbers for these vehicles compare with the rest of the market.
The General Motors auto sales forecast for 2023 shows continued growth as GM regains the top sales position from Toyota. This is the first time GM has held the number one spot since 1931.
Sales rose in the fourth quarter as production rebounded. GM’s sales were boosted by pickups and SUVs. But the overall market was hampered by a supply shortage.
In the fourth quarter, GM delivered 623,261 vehicles. That was 41 percent more than the third quarter. Overall, GM sold 2.27 million vehicles in the U.S. Last year, GM reclaimed the title from Toyota.
A full-blown recession would have a profound impact on auto sales. During a recession, lower-income borrowers tend to leave the new vehicle segment. However, during the recent recovery, demand for new cars has remained strong.
The American Honda Automobile Corporation provided an outlook on the U.S. automobile business for 2023. In the third quarter, the company expects a healthy increase in sales.
American Honda will expand its mobility products, including EVs, in order to move toward an electrified future. Additionally, the company will establish a digital services business unit.
Honda has a full line of vehicles, including the Accord, Civic, HR-V, Ridgeline pickup, and Odyssey minivan. It also offers electrified vehicles, such as the Pilot, CR-V, and Civic hybrid.
However, the auto industry is now in a new era, and the supply and demand of cars and trucks …