NADA Chief Economist says supply constraints continue to limit sales.
New light-vehicle sales fell 12.6% in May to a seasonally adjusted annual rate (SAAR) of 12.7 million units, versus April and were down 24.9% from May 2021. May’s SAAR was below expectations of a SAAR in the mid-13 millions, increasing the risk that the second quarter average SAAR won’t improve on the first quarter’s average SAAR of 14.1 million. Still, we expect sales in June 2022 to improve compared with May 2022.
According to Patrick Manzi, National Automobile Dealers Association (NADA) Chief Economist, as has been the case since about
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