According to the US Federal Data, the lowest vehicle sale happened in April 2020 during which 8.834 million units were sold. Then we find the highest sale happened in April 2021. 18.502 million units were sold during the Covid-19 period, double the sales in one year. From where did the consumers get the money to buy about 10 million more vehicles than the previous year?
It could be the result of stimulus checks and the economic impact payments (EIP) that the government pumped into the economy during the pandemic period.
“There are no secrets to success. It is the result of preparation, hard work, and learning from failure.”
In 2021, there was a bull market that put many economists and analysts in delusion. Since then, a massive market correction has been happening
In September 2021, the total sales fell to 12.747 million units. Then, we find a steady climb with very little fluctuations. In October 2023, total vehicle sales reached 15.972 million units.
In 2023, state sales taxes vary from 0% to 8.3%.
The big three in the US are General Motors, Ford, and Chrysler.
How do the vehicle manufacturers fare at the New York Stock market?
The market cap of the top vehicle manufacureres are given below.
GMC
