Are high gas prices and rising interest rates hitting demand for gas-guzzlers? Sales data don’t offer much of an answer these days, leaving investors to fear the worst.
On Monday, Ford Motor reported first-quarter sales of about 432,000 in the U.S., down from some 521,000 in the same period last year. This completed a series of mostly undistinguished U.S. sales reports from the big vehicle manufacturers. One of the few companies to post growth was Tesla , which on Saturday said it delivered about 310,000 vehicles to customers world-wide, up 68% year over year (it doesn’t break out U.S. sales).