Top 20% of U.S. Earners Drive New Car Sales, July Auto Deliveries Up Nearly 5%

The wealthiest 20% of Americans purchased the majority of new vehicles, driving July auto sales up nearly 5% year-over-year to an annualized rate of 16.3 million units. If monthly sales remain at July's pace, total new car and truck sales for the year would reach that figure. Meanwhile, demand for hybrid vehicles has risen significantly.