Hyperdrive
Automakers Notch Sales Bounce a Year After Covid-19 Onset
- Major vehicle manufacturers meet or beat analyst forecasts
- Supply chain headwinds may mar otherwise strong outlook
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Automakers posted higher sales in the first quarter as General Motors Co., Toyota Motor Corp. and others benefited from strong demand for new cars and trucks in comparison with a year earlier, when the spread of Covid-19 shut showrooms.
U.S. auto sales surged by more than 8% in the quarter, according to analysts’ estimates. The gain reflects buying as vaccination rates increase and more people return to their pre-pandemic routines. Increased confidence in the economy and worry about lower supplies of cars due to computer chip shortages also helped boost deliveries.