On a seasonally adjusted basis, forecast February U.S. light-vehicle sales represent weakening from January, as the chip shortage, geopolitical issues and inflation all continue to loom large. The good news is Q1 overall is running stronger than Q4-2021. Though there likely will continue to be some aberrations in individual months, as of now the outlook is for sales to strengthen from quarter to quarter in 2022, albeit remaining below pre-pandemic levels.

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