Light-vehicle sales grew 2% from August to their highest level since the pandemic began impacting the economy in March. Strong dealer conversion rates boosted sales in August and September, even as the number of light-vehicle shoppers declined during the period, including September’s 13.9% downturn.
As shoppers shift to trucks and crossovers, interest in cars continues a long-term slide, exacerbated by price-sensitive buyers turning to used vehicles or staying out of the market entirely as manufacturers reduce their offerings and limit deals on price and financing.
Demand for pickups is the main spark for month-to-month growth, as shoppers - boosted by increased small business and construction needs - apparently are taking advantage of generous incentives and low-interest financing.
Learn more in this infographic, sponsored by Ally.