J.D., auto industry consultants. (Reuters). Power and LMC Automotive cut Wednesday their global light vehicle sales forecasts for 2022 due to lockdowns in China, and ongoing warfare in Ukraine.

According to the consultants, 80 million light vehicles will be sold by 2022, down from 81.7 million as previously forecasted.

China has been enforcing strict COVID-19 restrictions, which have led to supply disruptions and hampered auto production in China. China is the biggest market in the world.

Aptiv Plc (NYSE:) Plc had earlier warned of an impact on its earnings for the current quarter due to lockdowns.

According to consultants, U.S. total sales of new vehicles for May will be approximately 1.2million units. This is an 18% drop from last year.

The country’s retail sales are expected to decline by 20.9%, but it is predicted that the average transaction price will reach a record $44,832.

According to the seasonally adjusted annualized rate of total US new-vehicle purchases, it is likely that 13.6 Million units will be sold in May. This compares with 3.3 Million units last year.

Jeff Schuster, LMC Automotive’s president, Americas operations, and global vehicle forecasts said, “As the recovery pushes out further, and consumers feel more the impact of rising prices,”.