March US Auto Sales to Tumble on Rising Inflation, Ukraine Crisis: Data

Cars unsold due to the autos market slowdown caused by coronavirus disease (COVID-19) are seen stored in the parking lot of the Wells Fargo Center in Philadelphia, on April 28, 2020. Mark Makela/Reuters

U.S. auto retail sales could decline in March as rising inflation hinders spending by customers already limited by slim inventories due to pandemic-led supply shortages, and now the Ukraine crisis, consultants J.D. Power and LMC Automotive said.

Supply bottlenecks were showing signs of easing in recent months, but that progress is likely to be stalled by Russia’s invasion of Ukraine as well as new lockdowns in China following a resurgence in COVID-19 infections.