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Overheard: New Light Vehicle Sales Trends

Light-vehicle sales have been held back by limited inventory caused primarily by the ongoing microchip shortage.

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Bruce is the Audience Insights Manager at Babcox Media.

Data Did You Know, shared from the NADA Market Beat: “New light-vehicle sales totaled 14.93 million units in 2021, up 3.1% from 2020’s 14.47 million. December 2021’s SAAR (seasonally-adjusted annual rate) totaled just 12.44 million units, down 23.7% from December 2020. Since the summer, light-vehicle sales have been held back by limited inventory caused primarily by the ongoing global semiconductor microchip shortage’s impact on new-vehicle production. Dealers sold most of their inventory quickly. According to J.D. Power, the average number of days a new vehicle sat on the lot fell to a record-low 17 days, down from 49 a year ago.”

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