U.S. auto sales to fall in April on tight inventories, rising rates:
sales is expected to fall in April, as low inventories and rising interest rates boost prices amid high demand, consultants J.D. Power and LMC Automotive said.
The automotive sector has been hit hard by supply issues, with production being hampered for more than a year by a global shortage of electronic components and supply bottlenecks due to COVID-19 lockdowns inThe average transaction price is expected to reach an April record of $45,232, an 18.7% increase from a year ago and the second-highest level since December last year.
The seasonally adjusted annualized rate for total new-vehicle sales is expected to be 14.5 million units in April, down from 3.9 million units last year.
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