Wards Auto released their estimate of light vehicle sales for April. Wards Auto estimates sales of 14.29 million SAAR in April 2022 (Seasonally Adjusted Annual Rate), up 6.9% from the March sales rate, and down 21.9% from April 2021.
Click on graph for larger image.
Click on graph for larger image.
This graph shows light vehicle sales since 2006 from the BEA (blue) and Wards Auto’s estimate for April (red).
The impact of COVID-19 was significant, and April 2020 was the worst month. After April 2020, sales increased, and were close to sales in 2019 (the year before the pandemic).
However, sales decreased late last year due to supply issues. It appears the “supply chain bottom” was in September 2021, and sales in April were above the consensus forecast of 13.8 million SAAR.
Sales are still weak but picking up.