US Auto Sales to Slip in January on Slim Inventory, Higher Prices

US Auto Sales to Slip in January on Slim Inventory, Higher Prices
Automobiles are shown for sale at a car dealership in Carlsbad, Calif., on May 2, 2016. Mike Blake/Reuters
Reuters
Updated:

U.S. auto retail sales are expected to dip in January as reduced manufacturing due to the Omicron variant, supply chain constraints and global inflation caused prices to soar amid high demand, consultants J.D. Power and LMC Automotive said.

Retail sales of new vehicles could fall 8.3 percent to 828,900 units from a year earlier, according to a report released by the consultants on Wednesday.