Consumer

New car sales forecasted to plummet in May

Published May 27, 2022 10:09 AM

(KYMA, KECY/ CNN) - New car sales are expected to plummet this month, compared to sales at this time last year.

According to JD Power and LMC Automotive, that's mostly due to near record-high prices. Plus supply chain disruption is causing limited inventory.

The average cost of a new vehicle right now is nearly $45,000 and demand is far exceeding the supply.

JD Power says the pace of new car sales is now directed by how many vehicles are delivered to dealers monthly.

Article Topic Follows: Consumer

Cole Johnson is News 11’s Sports Director.

Contact Cole at cole.johnson@kecytv.com.

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