Supply-chain kinks continued to suppress vehicle inventory and sales in the first half of the year, exacerbating a seller’s market that has pushed new-car prices to record highs.
Sales of new vehicles in the U.S. during the first six months of 2022 were expected to have fallen about 17% from a year earlier, according to Cox Automotive. Most auto makers on Friday are scheduled to report sales tallies for June and the first half of the year.
It has been a frustrating market for car shoppers, who have faced scarce availability and prices that often exceed the window sticker. The environment has been favorable for the bottom lines of auto makers and dealerships, though, as customers paid top dollar.
