Auto sales could hit below pandemic 2020 levels amid low inventory challenges

Low inventory levels led Cox Automotive analysts to again revise their full-year U.S. 2022 new-vehicle sales forecast downward.

At a discussion Tuesday with media, analysts projected 14.4 million sales this year, below the 14.6 million sold in pandemic year 2020.

Cox initially forecast 16 million sales for the year before dropping that estimate to 15.3 million, followed by the latest revision.