Semiconductor shortages and supply chain issues affected vehicle production and inventory levels in the past two years. However, factories are stepping up their pace as consumers intend to buy more vehicles this year.
U.S. auto sales rose to an estimated 13.2 million rate in December 2022. Moreover, auto sales will likely rebound this year, driven by growing demand and a recovery in vehicle production amid easing supply chain disruptions and chip recovery that will offset the effects of inflation and increasing interest rates.
