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Automakers Notch Double-Digit Sales Gains for Third Quarter

October 3, 2023

U.S. auto-industry sales continued to rise in the third quarter, with automakers and buyers largely unfazed by higher interest rates and the impact of a continuing United Auto Workers strike.

Automakers sold an estimated 3.9 million new cars and trucks during the quarter, up about 17% over the year-earlier period, according to J.D. Power, a data and analytics firm.

American car buyers have continued to flock to dealership lots, despite high car prices and a cooling labor market. The sales strength in the car business reflects a resilience in consumer demand with many people giving priority to short-term needs over longer-term goals.

Read More on The Wall Street Journal