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ARTICLE · 20 OCTOBER 2021

Foley Weekly Automotive Report - 19 October 2021

Foley & Lardner LLP
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This report helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities.

United StatesTransport
John R. Trentacosta
John R. Trentacosta
Ann Marie Uetz
Ann Marie Uetz
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This report helps automotive suppliers inform their legal and operational decisions to help address challenges and opportunities.

Key Developments

  • IHS Markit lowered its global light vehicle production forecast to 74.8 million units in 2021, representing a cut of 1.3% from a major revision published in September. The production forecast for 2022 is minimally revised up by 0.1% to 82.7 million units.
  • U.S. new vehicle inventory fell below one million units in September, representing a 30 days' supply industrywide. This is a decline of 63% from the same period one year ago.
  • New vehicles reached an average transaction price of $45,031 in September, up 12.1% from the same period one year ago.

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