Market Trends – Model Year 2022
The COVID-19 pandemic continued to affect the automotive market in 2021, albeit differently than in 2020. While demand may have been weak in 2020, it was supply that was weak in 2021, leading to low inventory and high prices. Analysts estimate that once sales are fully calculated, 14.9 million vehicles will have been sold in 2021, up from 14.5 million in 2020 but still down from the pre-COVID average of 17.3 million.
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