US Auto Sales Fell To Lowest Level In Decade

U.S. auto sales dropped 8% from 2021 to 2022, with the shortages of computer chips and other parts a major factor in the decline.
An employee works on the 40 millionth Ford Motor Co. F-Series truck on the assembly line at the Ford Dearborn Truck Plant on January 26, 2022 in Dearborn, Michigan. - The 40 millionth is a F-150, Tremor model in Iconic Silver and will be delivered to a customer in Texas. (Photo by JEFF KOWALSKY / AFP) (Photo by JEFF KOWALSKY/AFP via Getty Images)

At a glance

  • The shortages and decline is sales, however, has resulted in more dealer inventory and the expectation of slightly lower prices.
  • Automakers said Wednesday that they sold 13.9 million cars, trucks, SUVs and vans last year –  the lowest sales number since 2011 when the economy was recovering from the Great Recession.
  • Still sales were up slightly in the fourth quarter, which has analysts projecting they will increase this year by roughly 1 million – to about 14.8 million.

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