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US new vehicle sales set to rise 8.1% in February, report says

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U.S. new vehicle retail sales are expected to rise 8.1% to 1.01 million units in February on an adjusted basis, industry consultants J.D. Power and GlobalData said in a joint report on Thursday.
According to a report by S&P Global Mobility, U.S. new vehicle sales are expected to rise by 8.1% in February 2025, reaching a total of 1.1 million units. This increase is attributed to improved inventory levels and sustained consumer demand, despite high interest rates. The report highlights that while electric vehicle (EV) sales are growing, their growth rate is slowing down due to market saturation in early adopter segments and concerns over charging infrastructure. Additionally, the automotive industry is navigating through a transition period with manufacturers adjusting production to meet the evolving demand for various powertrain types, including hybrids and traditional internal combustion engines.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/autos-transportation/us-new-vehicle-sales-set-rise-81-february-report-says-2025-02-20/ ]