U.S. auto industry sales continued to climb in the third quarter as automakers and buyers largely shrugged off rising interest rates and an ongoing strike by the United Auto Workers union.
General Motors (GM) on Tuesday reported a 21 percent increase in its U.S. sales, a big jump driven by the Chevrolet and Buick brands and a rebound in supply of its best-selling pickup trucks.
In the quarter just ended, Toyota Motor's (TM) U.S. sales rose 12%, while Honda Motor's (HMC) sales were up 53% from a year earlier. The reason is strong demand for the company's smaller, more affordable cars and sport utility vehicles.
Ford Motor (F) is expected to report sales on Wednesday.
Auto companies sold about 3.9 million cars and trucks in the third quarter, up about 17% from a year earlier, according to data and analytics firm J.D. Power.
After hitting sales lows in more than a decade in 2022, new vehicle sales climbed 13 percent from January to June this year.
The UAW strike, which began in mid-September and includes five assembly plants at GM, Ford and Chrysler parent Stellantis (STLA), has yet to have a significant impact on U.S. auto sales.
Auto dealers say they have ample supplies of models affected by the factory strike, but that could change if the strike continues and widens further.