The car industry nearly collapsed in the Spring of 2020. The COVID-19 pandemic undermined sales severely. People could not go to dealers which were shuttered like other retailers. People stopped driving to work, school, and for vacation. Unit sales fell below even those last posted at the depth of The Great Recession. Then, in the third quarter, sales started to pick up. By the fourth quarter they were back to historic norms. By the first quarter, dealers could not keep some popular models in stock.
Late last year, supply started to be a problem, for two reasons. The first was pure demand. The other was that the chips key to the electrical systems of cars became scarse. Some of the largest manufacturers had to close factory facilities. These dual issues caused inventory demands that drove prices of cars, light trucks, SUVs, and crossovers higher. People started to turn to used cars. Prices for those began to spike, too.
In the first half of the year most car companies had sales which were extraordinary compared to last year. However, the vehicles most American favored did not change much. The best selling vehicle of the period was the Ford F-Series full-size pick-up. It has topped the list of the best selling car in America for years. In the first six months of the year, Ford sold 362,032 units. (Among the most exciting pieces of car news this year is the Ford will introduce an electric version of the F-Series).
The two vehicle that come behind the F-Series hold the same positions they have in recent years. And, they show the tremendous demand among American drivers for full-sized pick-ups. The Ram had units sales of 313,068. Sales of the Chevy Silverado were 286,410. The three have such a large lead over other car models at midyear that they are likely to hold the same positions for all of 2021.
Click here to read This Is The Fastest Selling Car In America
Are You Still Paying With a Debit Card?
The average American spends $17,274 on debit cards a year, and it’s a HUGE mistake. First, debit cards don’t have the same fraud protections as credit cards. Once your money is gone, it’s gone. But more importantly you can actually get something back from this spending every time you swipe.
Issuers are handing out wild bonuses right now. With some you can earn up to 5% back on every purchase. That’s like getting a 5% discount on everything you buy!
Our top pick is kind of hard to imagine. Not only does it pay up to 5% back, it also includes a $200 cash back reward in the first six months, a 0% intro APR, and…. $0 annual fee. It’s quite literally free money for any one that uses a card regularly. Click here to learn more!
Flywheel Publishing has partnered with CardRatings to provide coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.