Posted 3/1/2024, 9:51:00 PM
Car Sales Rebound in February, Rising 5.4% After January Slowdown
- Car sales rebounded in February, increasing 5.4% over January after a slow start to the year
- February sales were at an annual rate of 15.8 million vehicles, up from 15 million in January
- Sales surged in December and were likely impacted by bad weather in January
- Economists see the strong sales as evidence of continued economic strength
- Sales are expected to rise further in 2023 after reaching a 4-year high in 2022, though higher interest rates could temporarily slow growth
