Auto sales rose a healthy 16.8% from April through June to just over 4.1 million, fueled by pent-up demand from nearly two years of short supplies due to factories that were hobbled by the global computer chip shortage.
Inventory on dealer lots was expected to be just over 1.2 million vehicles in June, about the same as most of this year, J.D. Power said. Because of increased demand, supplies aren't growing. Stellantis sales rose 6% for the quarter, while Nissan sales jumped 33%, and Honda's leaped 45% over poor numbers from a year ago due to parts shortages. Hyundai and Kia sales each rose 15% from a year ago. Subaru sales were up 22%.
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