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, […]
US Auto Sales Remained on Downward Trajectory in July
The annual selling rate fell to its lowest point in 2021. Lean inventories again hit the US sales performance, and July volumes were at 1.28 million units, according to LMC Automotive, the automotive global forecasting and market intelligence company. The volume indicates only a 3.5% year-on-year (YoY) increase, resulting from an improved economy and market […]
July New Vehicle Sales Projected Above Last Year
Inventory shortages likely to cause July sales pace to weaken. New-vehicle retail sales for the month of July are expected to grow from July 2020 but decline from July 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales of new vehicles this month are expected to reach 1,187,300 units, a […]
Lean Inventories Impact US Light Vehicle Sales in June
The annual selling rate down to its lowest point since August 2020. The chip shortage that has plagued global production for months is finally impacting sales in the US. According to LMC Automotive, the independent automotive global forecasting and market intelligence company, 1.3 million Light Vehicles were sold in June, up by 17% from last […]
June New Vehicle Sales Projected Above Last Year and Pre-Pandemic Levels
J.D. Power and LMC Automotive forecast good month but low inventory impacting pace. Average price of vehicles up over 10% compared to last year. New-vehicle retail sales for the month of June are expected to show growth over June 2020 and June 2019, according to a joint forecast from J.D. Power and LMC Automotive. Retail […]
Consumer Federation Warns Vehicle Shortage Wreaking Havoc with Car Buyer’s Pocketbooks
As Americans begin to see the light at the end of the COVID tunnel, record numbers of buyers are venturing back into auto showrooms. “The problem,” says Jack Gillis, CFA’s Executive Director and author of The Car Book, “is that vehicle inventories are way down which means it’s a sellers’ market. Limited supply is a […]
US Light Vehicle Sales Shatter Projections in April
Sales at an annual selling rate above 18 million units for the second consecutive month. US Light Vehicle sales broke records once again in April, according to LMC Automotive, the independent automotive global forecasting and market intelligence company. Light Vehicle sales totaled 1.54 million units, the highest volume for the month of April ever. At […]
April New-Vehicle Sales Projected to Break Record Despite Low Inventory
J.D. Power and LMC Automotive forecast over 20% increase in new light vehicle sales versus two years ago for the month. New-vehicle retail sales for April 2021 are expected to be the highest ever recorded for the month of April, according to a joint forecast from J.D. Power and LMC Automotive. Retail sales for new […]
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