Lower-than-expected U.S. light-vehicle sales in the first half of 2022 reinforced the damage and unpredictability of the global microchip shortage that has plagued the industry for more than a year.
Automakers sold 6.8 million new vehicles in the first six months of the year, down 18 percent from a year earlier, according to the Automotive News Research & Data Center. Virtually every automaker except Tesla experienced a year-over-year sales drop in the first half of 2022.
Most dealerships still lacked the more normalized inventory levels that prognosticators expected to have returned by now, and as a result many forecasters have lowered their full-year projections for U.S. new-vehicle volume. Still, some optimism remains for the back half of the year.