“The 2022 forecast remains relatively flat at 10.0 million units with strong signs that the selling rate will strengthen for the remainder of the year. Although supply constraints are still dictating the pace of vehicle sales, demand is also being eroded by low consumer confidence, high inflation, rising energy prices and contractionary monetary policy. For 2023, while we expect supply-side disruptions to ease, there is a greater likelihood that falling demand will supersede supply factors as the main barrier to sales,” LMC said.