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Car sales plummeted in 2022 due to shortage of auto chips

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January 9, 2023

Jan. 9, 2023 /SemiMedia/ -- According to reports, due to the shortage of automotive chips, car sales in the UK fell to the lowest in 30 years last year, and car sales in the United States also fell to a new low in more than 10 years.

The report pointed out that in 2022, affected by the shortage of chips and auto parts, US auto sales fell by 8% compared with 2021, the lowest in more than a decade.

The report said that while the sales situation of different automakers varies widely, most companies' sales are down compared with 2021. Ford, Kia and Toyota all reported single-digit declines, while Nissan and Honda posted double-digit declines of 25% and 29.4%, respectively.

Analysts expect car sales to rise by about 1 million units this year to around 14.8 million as demand remains strong. However, this is still well below the pre-pandemic sales of 17 million cars a year.

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