30 Jun 2022 -
 General

Supply chain woes impact U.S. auto sales – 17% drop, says Bloomberg

Vehicle sales in the US are expected to fall 17.3% this year to the lowest level in a decade as semiconductor shortages and other supply-chain problems continue to hamper production, according to this Bloomberg report.

Researcher Cox Automotive lowered its forecast to 14.4 million vehicles, citing production constraints. Despite the lower forecast, Cox believes lower auto sales belie the state of the economy because the job market and consumer demand remain strong.

“We don’t think a recession is inevitable,” said Cox Chief Economist Jonathan Smoke. “We still have pent-up demand in retail. There are people who can’t get what they want.”

“We don’t think a recession is inevitable,” said Cox Chief Economist Jonathan Smoke. “We still have pent-up demand in retail. There are people who can’t get what they want.”

To avoid electronics supply-chain disruptions, you may also wish to consult an expert in electronics component supply. With more than three decades of supply-chain expertise, Astute Electronics is ideally placed to work with you on your daily component requirements.

For more help with looking at supply chain options, contact Astute Electronics

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