It was one year ago that the semi-conductor shortage hit the new vehicle market in a drastic way.
Today, things are not any better, according to new analysis from DesRosiers Automotive Consultants. The group releases sales numbers from April 2022 and the results are still not encouraging.
Sales for the month came in at 140,785 units. That’s down 13.3 per cent from April 2021. The seasonally adjusted annual rate (SAAR) now sits at a meagre 1.44 million units. Last year, April’s SAAR was at 1.66 million after dropping from 1.92 million the month before.
DesRosiers noted that market demand sits at or around two million units. However, supply shortages are forcing the industry “to stagger along” as it waits for inventory improvements.
“The demand side problems of the early pandemic months of 2020 now seem like distant history with the past 12 months dominated by supply-side woes that show few short-term signs of ameliorating,” said Andrew King, managing partner of DesRosiers Automotive Consultants.