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US carmakers report higher 2Q sales as inventories shrink

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AFP

New York (AFP) – Automakers reported huge jumps in second-quarter US sales Thursday, but face a challenging summer as the global semiconductor shortage continues to plague the industry. General Motors and Toyota saw impressive increases compared with the same quarter of 2020 when large parts of the US economy remained under tight Covid-19 restrictions. GM said US sales soared 40 percent this spring to 688,236 units. “The US economy is accelerating, consumer spending is robust and jobs are plentiful,” GM Chief Economist Elaine Buckberg said. “Consumer demand for vehicles is also strong, but con…

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