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Supply-Chain Crisis Worsens and U.S. Light-Vehicle Inventory Falls Again in September

Executive Summary

Based on the current outlooks for production and sales, inventory should break an 8-month downward slide and turn up in October. But that depends on how much, if at all, the flow of parts improves, meaning that the still high level of uncertainty in production for the U.S. market caused by the global supply-chain disruptions puts more downside risk to the direction inventory (and sales) take in October, and all of Q4.

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