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Auto Dealers See U.S. Sales Edging Up 3.4% as Shortages Continue

Vehicles on display at a car dealership in Louisville, Kentucky.

Vehicles on display at a car dealership in Louisville, Kentucky.

Photographer: Luke Sharrett/Bloomberg
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U.S. auto sales will climb just 3.4% this year to 15.4 million cars and trucks as the semiconductor shortages continue to constrain vehicle inventory, auto dealers predict.

The National Automobile Dealers Association, which represents 16,000 U.S. car retailers, said the lingering chip shortage slashed inventory on dealer lots by 59% in December compared to a year earlier. The organization said it expects inventories will remain diminished into the second half of 2022.