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No end in sight for auto sales slump on microchip-constrained output

From Bloomberg: Carmakers likely sold a seasonally adjusted annual rate of about 12.5 million new vehicles in December, down 23% from a year earlier, according to the average forecast of six market researchers. Most automakers will report their latest quarterly and annual U.S. new-car sales on Tuesday, Jan. 4. For the full year, auto sales likely came to 14.9 million vehicles, a 2.5% jump from the COVID-stricken days of 2020. But the 2021 total is historically low for an industry that's used to selling about 16 million vehicles annually. ....

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