Despite dwindling inventories on dealer lots, J.D. Power and LMC Automotive are predicting 12.4 percent global year-over-year new vehicle retail sales growth in June. The numbers are good news for automakers and dealerships who are feeling the effects of superconductor chip shortages and supply chain parts production issues.
“The recovery in global light-vehicle sales continued in May, with sales up 35 percent from May 2020,” said Jeff Schuster, president of Americas operations and global vehicle forecasts at LMC Automotive. “But the combination of various COVID-19-related restrictions and the semiconductor crisis is holding back the level of recovery.”
J.D. Power and LMC Automotive predict that retailers will sell 1,133,900 units in June, a 0.3 percent increase over June 2019 when adjusted for selling days. June 2021 and 2020 have the same number of selling days, which is one fewer than June 2019. Without adjusting for the number of sales days, volume