New U.S. light-vehicle demand in May is expected to soldier on uneventfully and maintain its unsteady climb.
Global new light vehicle sales will reach nearly 83.6 million units in 2023, a 5.6% increase year-over-year.
This is the fifth month in a row that the total came in at less than 14 million.
Firm says global light vehicle production will be impacted well into 2022.
CAR’s forecast includes a continuation of sales declines in 2020 and 2021 down to 16.5 million units in 2021. Sales are projected to rebound to 16.8 million units by 2022 and continue an upward trend through 2025.