{"id":222252,"date":"2022-03-31T15:25:08","date_gmt":"2022-03-31T19:25:08","guid":{"rendered":"https:\/\/www.thedetroitbureau.com\/?p=222252"},"modified":"2022-03-31T15:25:16","modified_gmt":"2022-03-31T19:25:16","slug":"new-vehicle-sales-expected-to-fall-15-2-in-first-quarter","status":"publish","type":"post","link":"https:\/\/thedetroitbureau.com\/2022\/03\/new-vehicle-sales-expected-to-fall-15-2-in-first-quarter\/","title":{"rendered":"New Vehicle Sales Expected to Fall 15.2% in First Quarter"},"content":{"rendered":"\n

In what will be a surprise to virtually no one, new vehicle sales for the first quarter of 2022 are expected to be down 15.2% when automakers begin reporting the results on Friday.<\/p>\n\n\n\n

\"Top
Low inventories are cutting new vehicle sales in the first quarter.<\/figcaption><\/figure><\/div>\n\n\n\n

Analysts at Edmunds.com predict car companies sold a little less than 3.3 million vehicles<\/a><\/u><\/strong> during Q1, which is a decrease on a year-over-year basis, but a 0.4% improvement compared with the fourth quarter of 2021.<\/p>\n\n\n\n

The reasons for the drop remain the same as they have been for some time now, Jessica Caldwell, Edmunds\u2019 executive director of insights, said.<\/p>\n\n\n\n

“Skyrocketing gas prices were top of mind for consumers in March, but the lack of inventory is what ultimately depressed new vehicle sales in the first quarter,” she said. <\/p>\n\n\n\n

“Automakers are still grappling with ongoing disruptions to supply chains and production created by the chip shortage and COVID-19; on top of that, they’re likely facing new challenges as a result of the invasion of Ukraine. This combination of headwinds could mean that these inventory issues will persist well into the rest of the year.”<\/p>\n\n\n\n

Get \u2018em while you can<\/h2>\n\n\n\n

Not only are inventories down, the vehicles that are arriving on dealer lots are leaving almost as quickly as they can be unloaded from the car carrier. Edmunds says 41% of all new vehicles are sold within their first week on a dealer lot. It was only 20% during the year-ago period.<\/p>\n\n\n\n

\"Edmunds<\/figure><\/div>\n\n\n\n

While there\u2019s been plenty of news about how electric vehicle sales are setting new records \u2014 up more than 80% in 2021<\/a><\/u><\/strong> with that number expected to essentially repeat itself this year \u2014 shoppers are buying all vehicles quickly with the average days-to-turn data showing drops across the board.<\/p>\n\n\n\n