Industry forecasters predict vehicle sales from July through September were less than 3.4 million, down between 13% and 14% from a year earlier. The severe decline, including a massive fall in September, is due to the ongoing shortage of semiconductor chips for new vehicles.

Are auto sales down 2021?

Sales for August 2021 are expected to be around 1.1 million cars and trucks combined, down 13.7% vs. ... That translates to a Seasonally Adjusted Annual Rate of just 13.1 million units, down from 15.2 million a year ago, or 17.1 million, in August 2019.

Is the auto industry in trouble 2021?

Chip shortage expected to cost auto industry $210 billion in revenue in 2021. The semiconductor chip shortage is now expected to cost the global automotive industry $210 billion in revenue in 2021, according to consulting firm AlixPartners.