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Published 17 days ago

US first-quarter auto sales grew nearly 5% despite high interest rates, but EV growth slows further

  • New vehicle sales in the U.S. Rose nearly 5% from January through March, with automakers selling nearly 3.8 million vehicles in the first quarter.
  • Electric vehicle sales grew only 2.7% to just over 268,000 during the quarter, with EV share of total U.S. Sales falling to 7.1% in the first quarter.
  • General Motors, Stellantis, Kia, and Tesla reported declines in sales, while Toyota reported a 20% increase for the quarter.
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