IT WAS A BUSY YEAR FOR THE AUTO INDUSTRY. 2022 began with Ford F-150 Lightning buyers asking when they would get their electric trucks, as demand far outpaced supply. At the same time, the compact Ford Maverick sold out instantly and remains hard to find. GMC revealed the Sierra Denali EV, a counterpart to the Chevrolet Silverado EV. New electric vehicles EVs) without a bed made the news, among them Lucid’s impressive Air sedan. Dodge introduced the first American electric muscle car, the Charger SRT Daytona. A host of Mercedes-EQ EVs hit the street. And while supply chain issues continued, EV infrastructure improved with several partnerships with charging companies. Home chargers became hot items.
At year’s end, the Newsweek Autos team rounded up some of its favorite industry analysts from across the country to weigh in on what 2023 might bring. Here are 10 predictions for the new year.
1 _ There will be more cars on dealer lots
“We will see ongoing supply chain issues keeping production back in 2023, though inventory should be in a better space than in 2022,” Stephanie Brinley, assistant director of research and analysis at S&P Global Mobility tells Newsweek. S&P Global Mobility forecasts U.S. sales will reach 14.7 million units next year. This puts the market below 17 million units for the fourth year in a row, which leaves pent-up demand.
“However, economic conditions are also expected to dampen some of the pent-up demand as well... We may see fewer people looking for a new car in 2023. Overall, 2023 is going to be a stronger sales year than 2022, but it’s still a comparatively weak US. light-vehicle market.”
2 _ Arecession may puta damper on demand
This story is from the January 20, 2023 edition of Newsweek US.
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This story is from the January 20, 2023 edition of Newsweek US.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 8,000+ magazines and newspapers.
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