Riding the wave of pent-up demand

General Motors, Honda, Hyundai and Nissan posted gains for the first quarter, but Toyota and Stellantis, which owns the Jeep and Ram brands, saw volumes decline. — Bloomberg

DETROIT: Many automakers are seeing stronger US new car sales as dealer inventories are replenished by higher production volumes, but those gains are being muted by high sticker prices and surging financing costs.

General Motors Co, Honda Motor Co, Hyundai Motor Co and Nissan Motor Co posted gains on Monday for the first quarter, but Toyota Motor Corp and Stellantis NV, which owns the Jeep and Ram brands, saw volumes decline.