Association forecasts 2022 sales up 3.4% from last year.
The National Automobile Dealers Association (NADA) issued its analysis of 2021 U.S. auto sales and the economy and projections for 2022.
“The major theme for new-vehicle sales in 2021 was constrained inventory,” said NADA chief economist Patrick Manzi. “The coronavirus pandemic and resulting microchip shortage and production cuts significantly constrained new-car and truck inventory at dealerships across the country. Constraints further led to suppressed new-vehicle sales, as well as used-vehicle inventory shortages and increased vehicle prices.”
In the video embedded below, Manzi discusses the analysis.
2021 came to a close