Retail sales of new cars are forecast to fall 20.9% this month compared to the same time last year, amid vehicle shortages and sky-high prices, according to the automotive research firms J.D. Power and LMC Automotive
Washington, DC .
The forecast is in part due to ongoing supply chain disruption and the resulting tight inventories. It is yet another pressure on US consumers. The Commerce Department said Tuesday that new home sales fell 26.9% in April when compared to a year prior. The S&P 500 Index has fallen 17.5% this year amid record inflation, rising interest rates and supply chain shortages.
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