Shortages of computer chips and other parts continued to hobble the U.S. auto industry last year, contributing to vehicle sales dropping 8% from 2021 to their 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 as inventories grow.
Automakers reported that they sold 13.9 million cars, trucks, SUVs and vans