Consumer News: GM reports jump in car sales, Hertz emerges from bankruptcy and more!
CNN– Many consumer are still buying cars, despite the global shortage of car computer chips. General Motors reported a 40% jump in sales in the second quarter, compared to last year. The company also showed a 7% increase, compared to the first quarter this year. Toyota sales were up a whopping 73% compared to a year ago, and 14% compared to the first quarter.
Hertz has emerged from bankruptcy just in time to benefit from the rebound in travel across the U.S. The car rental company announced its bankruptcy has officially ended after more than a year. Hertz filed for Chapter 11 bankruptcy in May 2020, and sold more than 180,000 of its vehicles by the end of 2020, just as the prices of used cars climbed from a shortage of new cars.
Both the roads and the skies are expected to be busier than ever this Fourth of July. AAA says more than 635,000 South Carolinians are expected to travel for the holiday weekend. That’s up more than 35% from last year, amid the pandemic. Overall, more than 47 million Americans are expected to travel this Independence Day weekend.
ABC NEWS– It is prime grilling season, especially heading into this holiday weekend. How do you know if your grill needs an upgrade? ABC’s Dierdre Bolton has the details.