Topic: Auto Sales

American shoppers don't appear to be deterred by rising prices in the United States, as retail spending increased by nearly 1% during the month of April, the Commerce Department said in its monthly report Tuesday.

Retail sales in the United States last month surged by nearly 4% as supply chain issues began to improve and the Omicron coronavirus variant began to wane, the Commerce Department said in its monthly report Wednesday.

Inflation, supply chain problems and reduced government payments couldn't beat back demand from consumers who spent more money than expected in September.

The number of electric vehicles worldwide is expected to increase to 145 million by 2030, by which time they will account for 7% of all cars, vans, trucks and buses on the road, according to a report Thursday by the IEA.

General Motors said Monday it has stopped including fuel-saving modules in some of its new pickup trucks due to an ongoing, industry-wide shortage of semiconductor chips.

Retail spending last month grew by about 2% in a positive economic sign amid a significant rise in COVID-19 cases nationwide, the Commerce Department said in its monthly report Friday.

Crowds flocked Monday to Beijing's Auto China 2020, the only major international car show held this year because of the coronavirus pandemic, with potential buyers gawking at new luxury cars and electric vehicles.

Retail spending in the United States increased slightly in July but marked the third straight month of growth, the Commerce Department said in its monthly report Friday.

New vehicle sales dropped less than expected in the first 12 days of April amid many closed showrooms due to restrictions to curb coronavirus spread, research firm J.D. Power said.

After two straight days of losses, stocks on Wall Street gained ground Thursday due to a sharp rise in oil prices.