Projected Increase in U.S. New Car Sales for December 2023

Sales of new vehicles in the U.S. are expected to increase by 1% to 4% next year, reaching approximately 15.6 million to 16.1 million vehicles sold. This would be the highest level since 2019, as the automotive industry continues to recover from the impact of the pandemic and supply chain disruptions. The increase in sales could benefit consumers and the economy, but it may also lead to lower prices and rising incentives, which could pose challenges for automakers and dealers. The forecasted growth in U.S. sales aligns with a global increase of 2.8% predicted by S&P Global Mobility, and it would mark the first sequential sales growth for the industry since 2015-16.