Automotive Buyers Are In For A Wait

New vehicle buyers should expect to wait six months to a year for prices to drop, according to a new report analyzing why the new-car shortage happened and when it will end.

New-car Prices Easing After Record Highs

After a multiyear surge in new-car prices, buyers are starting
to see some relief on dealership lots. Inventory levels are
gradually coming back, giving shoppers more options when
browsing showrooms, and some discounting has crept back
into the market, albeit in a limited fashion.

Outlook: U.S. Auto Sales to Rise in October

U.S. auto retail sales are expected to rise in October as
supply-chain snags ease, making more vehicles available
at dealerships amid higher demand, an industry report from
consultants J.D. Power and LMC Automotive showed.

Chip Shortage To Improve — A Bit

The forecast for lost 2022 factory production resulting
from microchip shortages has softened by a small amount,
AutoForecast Solutions estimates.

NADA: Limited Inventory Issues Beginning To Ease

The National Automobile Dealers Association (NADA) said the third quarter of 2022 closed with new light-vehicle sales totaling a quarterly average SAAR of 13.3 million, down slightly from a SAAR of 13.4 million during the second quarter of the year.