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The Ukraine War will lower global light-duty vehicle production through next year by millions of units, predicts the automotive research firm.
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Edmunds predicts 15.2 million new cars sales in 2022, a 1.2% increase from its 2021 vehicle sales estimate.
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IHS Markit forecasts lows in light-vehicle sales and production will give way to increases ahead.
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IHS Markit finds the average age of a car on U.S. roads rose to 12.1 years in 2021, up from 11.9 years in 2020. In comparison, the average age was 9.6 years in 2002.
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LMC Automotive expects the semiconductor shortage to cut production in North America by about 452,000 units over the remaining months. The company also expects the chip shortage to impact production by about 1.5 million units.
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Market EyeQ users can now automate behavior-based predictive marketing campaigns to pre-owned car buyers and utilize Manheim Market Reports to evaluate trade-in vehicles based on real time auction prices.
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According the new analysis, global light vehicle sales are now forecast to be 69.6 million units this year in the wake of the pandemic.
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automotiveMastermind is re-deploying sales and business development managers to prospect on behalf of dealer partners, demonstrating the company’s support and commitment to dealerships during COVID-19 disruptions.
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IHS Markit has been analyzing prevailing auto demand conditions in light of COVID-19.
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Automotive Mastermind hired one executive and promoted another as an extension of the company’s product and technology departments.
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