Auto Industry Rebounds From Supply Chain Woes Amid Strong Demand

General Motors, Ford, Toyota and other major automakers reported double-digit sales increases in the second quarter of 2023 due to improving supply and high demand.
Electric vehicle sales continued to rise significantly, accounting for 7.2% of total U.S. auto sales in the first half of the year.
Average new vehicle prices remained largely unchanged from a year ago despite higher interest rates and inflationary pressures.
Ford's sales were led by a 34% increase in F-Series truck sales, including a jump in sales of the all-electric F-150 Lightning.
Tesla dominated the U.S. electric vehicle market in the first half of the year, selling nearly 337,000 vehicles.