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US Auto Sales Rise on Shift to EVs and Demand for SUV

On Thursday, 1st July 2021, the automakers of the United States have experienced a rapid increase in the quarterly sales in 2021 on the basis of strong and continuously increasing demand for the SUVs and also with the continuing trend into 2022, while more people of United States are shifting to the line up of new electric vehicles and private conveyance.

Government stimulus, low rates of interest and also a preference for the personal transportation because of the novel corona virus pandemic have been responsible for bolstering the demand for the cars in the United States. Due to the lower inventories, the prices have been increased, that has been followed by a shortage of semiconductors across the globe.

The high prices of the vehicles have been responsible in boosting the profitability for the automobile companies, who has also increased the investment in the production of Electric Vehicles.

The company ‘General Motors’ said, the company’s ‘Chevrolet Bolt’ electric vehicle have been able to post a record delivery in the second quarter of 2021, along with a total sale of Chevrolet increased by 31 percent, as the sales of the company’s SUVs have been decreased by 86 percent.

Chief economist of General Motors said, they are now expecting a continued high demand in the second half of 2021 and also into 2022. In June 2021, the company General Motors have also increased it budget of electric vehicle to 35 billion dollars through 2025. The company ‘Toyota’ also said, its overall sales in the United States has been increased by around 73 percent in the second quarter of 2021.