Jan. 6, 2023—Vehicle sales dropped 8% from 2021 last year due to supply chain issues, according to AP News.
"Automakers reported Wednesday that they sold 13.9 million cars, trucks, SUVs and vans last year as the parts shortage limited factory output amid high demand for new vehicles," According to AP News. "It was the lowest sales number since 2011 when the economy was recovering from the Great Recession."
Overall, 2022 saw the lowest level of vehicle sales in over a decade. It is predicted by analysts that auto sales will increase by about 1 million to reach 14.8 million in 2023 if demand stays strong.
Chip production has shown improvement for the auto industry, but AP News reports that it hasn't quite returned to the levels that were seen prior to the pandemic. This means that auto production is not back to full output yet. Something of note is that electric vehicle sales were at over 807,000 in 2022, which is an increase of nearly 65% from 2021.
