(AP) — U.S. new vehicle sales rebounded slightly last year from 2020’s dismal numbers, but forecasters expect them to be more than 2 million below the years before the coronavirus pandemic. The problem isn’t consumer demand. It’s low vehicle supplies caused by the global shortage of computer chips.
Cox Automotive expects 2021 sales to be 14.9 million vehicles, up 2.5% from 2020, the year the pandemic hit the U.S. But during the five years before the pandemic, sales averaged 17.3 million.
Most automakers are releasing December and full-year sales numbers on Tuesday. General Motors was unseated by Toyota as the nation’s top-selling automaker. GM sales were down nearly 13% while Toyota was up 10.4%