Rebound In The US Auto Industry
It is no secret that the United States' automotive industry has been in decline. The country's economic downturn has led to a lot of problems. However, 2022 saw a significant improvement in car sales. The reason is that car sales in the United States are poised to surpass all records this year.
The previous record for vehicles sold per year was 17.4 million, which was established in 2000. The record will be broken by 15.8 million sales before November ends, according to estimates.
The question is, then, why did the decisive shift occur? Why is it that cars are being sold at such a high price now? There are many reasons. The first is the low gas prices. People feel more motivated to travel and are upgrading their cars. A lot of car loans are now available to shoppers. This competition means that car buyers can get very attractive terms on these loans. This combined with strong employment and a need for cars that haven't been available in previous downturns years creates a perfect storm for car sales.
While there are many contributing factors to the increase in car sales, it is surprising that experts don't believe auto sales will rebound as quickly. In 2009, auto sales fell to near-record lows due to the bankruptcy of Chrysler and GM. However, sales have been improving each year since 2009, and 2022 looks like a record year for the auto industry.
This is fantastic news, and we are proud to support the auto industry. They are essential to our business. This is especially true considering how many people buy cars online and have them delivered to their homes. The strong auto industry is good for America, and it is a relief to see it recover in this manner. You can find more information about the resurgent automotive industry.