U.S. new vehicle sales expected to have struggled during third quarter [CNBC]
Honda Motor Company, Ltd. (HMC)
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Source: CNBC
Analysts note that the Federal Reserve's recent decision to cut rates was positive, but it does not necessarily guarantee a major uptick in sales through the rest of the year. Sales of EVs are expected to increase about 8% during the third quarter compared with the same period a year earlier, according to Cox. DETROIT — U.S. sales of new vehicles are expected to have struggled during the third quarter amid economic and political uncertainties, as well as elevated interest rates and prices, according to industry forecasters. Sales are expected to fall roughly 2% during the third quarter compared with the same time in 2023, to about 3.9 million vehicles sold, according to Cox Automotive and Edmunds.com . That would be a roughly 5% decrease compared with the second quarter of this year. Analysts note that the Federal Reserve 's decision last week to cut rates was a step in the right direction, but it does not necessarily guarantee a major uptick in auto sales through the rest of
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