U.S. car sales fell sharply in January

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Analysis from consulting firms JD Power and LMC Automotive shows that due to the epidemic, supply chain shortages, global inflation and other issues caused by the SOARing price of cars in the US market, the average retail price of new cars in the US market is expected to reach $44,905 in January, but the peak point of December 2021 is still lower than $45,283.

Supply chain shortages and the epidemic have led to insufficient production capacity in automobile factories, and the vehicles delivered to dealers cannot meet the needs of consumers to buy cars, and the sales speed of cars has slowed down significantly.

According to a report released wednesday by the consultancy, retail sales of new cars in the U.S. market are expected to fall 8.3 percent to just 828,900 units in January. Total new vehicle sales, including retail and non-retail transactions, are expected to reach 932099 units, down more than 15 percent year-over-year.

The consulting firm adjusted its forecast to total new vehicle sales in the U.S. market in 2022, down 2.6 million units from 2021. However, we remain optimistic about new vehicle sales in the global market, and global light vehicle sales are expected to increase by 6% year-on-year to 86.2 million units.