Cox Automotive predicts new-vehicle sales volume to reach 7.65 million units sold in the first half of 2023, an increase of 11.6% year over year. The company predicts new vehicle sales in the United States of 15 million for the entire year, fueled in part by strong fleet sales.

Sales in June are expected to reach 1.3 million cars, which is up from 1.1 million in June 2022. According to Cox, “June seasonally adjusted annual rate (SAAR) is forecast at 15.2 million, an increase of more than 16% compared to June 2022, when new-vehicle inventory was less than half the current levels.”

“We came into 2023 concerned about affordability, supply constraints and a fragile economy,” noted Cox Automotive Chief Economist Jonathan Smoke. “But the jobs market has remained healthy, and consumers have found a way to buy new wheels. As we close the first half, the market is showing signs of being more balanced, with smaller, more predictable changes in sales and less news about big price changes. A year from now, we might look back at this point as the beginning of a return to normal.”

Inventory levels have been noted as the driver of the increase, with supply up 70% year over year in June.

EV availability is also in the rise as inventory is predicted to reach over 90,000 units for the first time, compared to the 21,000 available in 2022. EV supply is at 92 days versus 36 days a year ago.

With so many new cars on the road, where are they getting their fuel? Check out this quick read about who sells the most gas. Spoiler alert: It’s convenience stores!