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U.S. Auto Sales Growth Fueled by Hybrids and Price Relief

Published on April 5, 2024

The Wall Street Journal reports that first quarter sales for the U.S. auto industry are higher year-over-year. Though Ford’s report is not yet available, and manufacturers’ gains were not uniform, some makers saw double-digit increases including Toyota (20%) and Honda (17%) who both credit their increased sales to demand for fuel-efficient vehicles. According to research firm J.D. Power, consumers are also benefitting from the easing of prices which have declined 3.6% from 2023.

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