The December Federal Reserve minutes showed officials considered interest rate decreases, which investors are also reacting to.
After the worst sales year in over a decade in 2022, carmakers rebounded in 2023. Analysts forecast 15.5 million auto sales by 2022, even though some automakers have not reported fourth-quarter sales.
Demand and dealership availability drove sales up. GM led the group with 2.6 million cars sold last year, up 14%. G.M. leads sales for the second year.
Toyota's U.S. sales rose 7% to 2.3 million cars, trailing G.M. Hyundai Motor recorded its biggest sales year ever, up 11% from 2022.
This year was beneficial for customers. After peaking at almost $50,000 in December 2022, the average new automobile price is presently slightly over $46,000.
J.D. Durkin gives the latest business news from the New York Stock Exchange floor as markets end Tuesday, January 3rd.
JD Durkin: New York Stock Exchange reporter J.D. Durkin. Stocks ended today at x. The Dow, Nasdaq, and S&P closed x.
The December Federal Reserve minutes showed officials considered interest rate decreases, which investors are also reacting to.