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Inflation Won’t Stop 2023 Auto Sales Growth Amid Chip Recovery

  • December US auto sales rose to an estimated 13.2 million rate
  • New-car sales likely hit lowest pace since 2011 last year
Mary Barra
Mary BarraPhotographer: Emily Elconin/Bloomberg

US auto sales likely rose in December and will rebound in the new year as a recovery in vehicle production will more than offset the effects of inflation and rising interest rates.

Two years of semiconductor shortages and supply problems have kept vehicle production low and inventories lean. With factories picking up pace again, consumers will buy more vehicles this year even if automakers have to help them manage rising interest rates by cutting today’s lofty prices.