DETROIT, MI (AP)— Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year.
That led to sales dropping 8 percent from 2021 to the lowest level in more than a decade.
But there’s good news for consumers in the gloomy numbers: Vehicle supplies on dealer lots are growing, albeit slowly, and automakers expect at least a small easing in prices this year.
Automakers reported Wednesday that they sold 13.9 million cars, trucks, SUVs, and vans last year as the parts shortage limited factory output amid high demand for new vehicles. It was the lowest sales number since 2011, when the economy was recovering from the Great Recession.
