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 […]
US Light Vehicle Sales in December Fell by 27% Compared to 2020
A turbulent 2021 closed at 14.9 million units sold. Although there were some signs of recovery throughout the month, lean inventories dragged December sales down to 1.19 million Light Vehicles, according to LMC Automotive, the independent automotive global forecasting and market intelligence company. This volume was 27% below sales in December 2020, albeit the strongest […]
Edmunds Forecasts 15.2 Million New Vehicles Sales in 2022, Up on Pent Up Demand
Edmunds analysts say that the automotive industry faces yet another challenging year marked by inventory shortages amid strong consumer demand, forecasting that 15.2 million new cars will be sold in 2022. Edmunds analysts note that this would represent a 1.2% increase from their estimate of 15 million new vehicle sales in 2021. “2021 marked an […]
U.S. Light Vehicle Sales Decline Eases Slightly in November
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 […]
New-Vehicle Sales Projected Lower on Continued Low Supply in November
J.D. Power and LMC Automotive project sales declines, but demand sustains record-high levels of prices and dealer profits. Used vehicle prices up. New-vehicle retail sales for November 2021 are expected to decline when compared with November 2020, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month […]
Inventory Constraints Projected to Continue Reducing New-Vehicle Sales in October
Prices and profits, however, increase to record highs. Truck and SUV market share projected over 80% even with higher gas prices. New-vehicle retail sales for the month of October 2021 are expected to decline when compared with October 2020 and October 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales […]
U.S. Auto Sales Fall in September to Lowest Level for the Year
Vehicle supply crisis brings the recovery in auto sales from the pandemic to a halt. Greatly depleted inventories dragged down U.S. vehicle sales to their lowest level for the month of September since 2010, according to LMC Automotive, the independent automotive global forecasting and market intelligence company. Automakers sold just under 1 million Light Vehicles […]
Vehicle Manufacturer Chip Shortage Projected to Continue into Late 2022
An article yesterday in the Wall Street Journal warns that the “chip famine” starving vehicle manufacturers of needed electronics will likely continue widely into late 2022 and further for more advanced chips. The article, by David Yergin, vice chairman of IHS Markit, and Matteo Fini, vice president for automotive supply chain and technology at IHS […]
Inventory Constraints Cause U.S. Light Vehicle Selling Rate to Fall
Annual sales rate at under 13 million units for first time since May 2020. As the microchip shortage worsened, US sales were impacted severely in August. Volume plunged to the lowest level in 2021, to 1.08 million Light Vehicles, according to LMC Automotive, the leading independent automotive global forecasting and market intelligence company. This represents […]
U.S. New Vehicles Sales Projected to Decline in August Due to Inventory Constraints
Light vehicle sales projected down substantially from both 2020 and 2019. New-vehicle retail sales for the month of August are expected to decline from August 2020 and decline from August 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 987,100 units, […]
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