LMC Automotive cautions lean inventories continue to severely impact the market’s selling rate.
The month of November started strong, signaling that the worst impact of lean inventories on light vehicle sales may be over, but the month ended with the reality that dealers are still struggling to meet demand. Sales ended the month at 1 million Light Vehicles, a 16% year-on-year (YoY) decline, according to LMC Automotive, the independent automotive global forecasting and market intelligence company.
Sales were down by more than 20% in September and October compared with the previous year.
The annualized rate fell to 12.8 million units,
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