According to RBC Capital Markets, the May U.S. light-vehicle seasonally adjusted annualized rate (SAAR) of sales came in at 12.80 million vehicles, 4.5% below its forecast and down 12.3% from April due to low inventories amid a persistent shortage of semiconductors and record-high vehicle prices.
Intensified supply chain disruptions and rising energy and commodity prices due to the Russia-Ukraine war further affected sales. Moreover, with further aggressive monetary policy tightening by the Fed increasing the likelihood of a recession, analysts are warning of a slowdown in car sales.
