Auto industry posts worst US sales year in over decade

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While an eight-per cent drop was recorded in 2022 compared to 2021, the projection for 2023 is not much better: sales figures are expected to remain well below pre-pandemic levels. theSun theSundaily AutoIndustry US sales lowest

: With supply chain issues, high interest rates and low inventory in full swing, analysts are projecting an estimated total of around 13.7 million new vehicles sold in the United States last year, the lowest figure in over a decade reported Xinhua.

“The drop-off marks a reversal for a sector that started the year hoping historically low interest rates and an end to parts shortages would fuel a rebound in sales,“ said auto news portal Jalopnikin in its report of the negative development.

 

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