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- New Vehicle Sales in Q1 Jump 11.7%. Inventories Build, but Still Less Than Half of 2019. Pent-Up Demand at 6 Million Vehicles
New Vehicle Sales in Q1 Jump 11.7%. Inventories Build, but Still Less Than Half of 2019. Pent-Up Demand at 6 Million Vehicles
by Wolf Richter Wolf Street
Going to be tough for a recession to gain momentum with this kind of demand-overhang going into it.
Sales of new cars, SUVs, vans, and pickup trucks in Q1 rose by 11.7% year-over-year, to 3.68 million vehicles, according to data from the Bureau of Economic Analysis. It was the best quarter since Q1 2021, when the chip shortages began. But still far from normal-ish: Q1 sales were still down by 7.6% from Q1 2019: