U.S. Auto Sales Bounced Back in 2023

The U.S. auto industry rebounded in 2023 with many car companies reporting double-digit sales gains, marking a return to normalcy for a sector that has been on a roller coaster since the start of the pandemic. 

Automakers’ results were boosted by pent-up demand and better availability on dealership lots. A six-week United Auto Workers strike this past fall did little to damp the industry’s momentum and electric-vehicle sales continued to rise, albeit at a slower rate than in the previous year.