U.S. Auto Sales Soar in April Despite Chip Shortage

U.S. automotive sales were robust in April despite production challenges from the continuing shortage of semiconductor chips. April sales were estimated at a seasonally adjusted annual rate of over 18 million vehicles and may be one of the best months ever, said Cox Automotive. April sales were well over Cox Auto’s forecast of 16.5 million.

Sales volume increased nearly 50% for some auto manufacturers compared to a year ago when the industry was at a low point in the pandemic. On a year-to-date basis, Honda, Hyundai and Mazda are up 45% or more. Volvo sales leapt 63% so far for the year. Demand is expected to remain strong, but consumers will find it harder to locate the perfect vehicle as inventory tightens further from supply chain disruptions.