US Auto Sales Fell To Lowest Level In Decade

Industry experts blames the decline of 8% from 2021 to 2022 on the shortage of computer chips and other parts.
Used car are on display on a lot in Wexford, Pa., Thursday, Sept. 29, 2022. (AP Photo/Gene J. Puskar)

At a glance

  • The result of the slowing sales also mean inventory is up and price are expected to drop slightly.
  • Automakers reported Wednesday that they sold 13.9 million cars, trucks, SUVs and vans last year because of the parts shortage – resulting in  the lowest sales number since 2011 when the economy was recovering from the Great Recession.
  • Sales were, however, up slightly in the fourth quarter of last year as supply chain problems eased.

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