Chip and parts shortages put a dent in U.S. auto sales in 2022.

Low inventory, supply chain disruptions, high interest rates, and high demand are all factors in weak vehicle sales this month. 

Light vehicle sales approach lowest levels in nearly a decade as less affluent buyers choose not to purchase vehicles.

In this week's news round-up, we discuss the growing concerns of the new United States-Mexico-Canada Agreement (USMCA), Ford and Honda's 30-day social media cleanse, and how auto sales are predicted to make a rebound.

New auto sales are down by 33 percent due to the COVID-19 pandemic, with the service parts industry becoming the solution to fill in revenue gaps.