Despite continued new-vehicle inventory constraints, U.S. retail vehicle sales should rise in 2022 with higher gross and finance and insurance profits per vehicle, according to one industry expert.
Thomas King, president of the data and analytics division at J.D. Power, said U.S. retail sales should increase to 13.4 million to 13.8 million in 2022, up from 13 million in 2021.
King, speaking at the J.D. Power Auto Summit in Las Vegas on Thursday, said that in August 2021, inventory levels at dealerships dipped below a million vehicles and stayed there. Since that point, retail sales have been constrained to about 1 million vehicles per month, King noted.