![]() The chip shortages, though improving, continue to dog the industry.īut now there’s this additional wrinkle, triggered by the spike fuel prices: A shift from full-sized trucks and SUVs to vehicles with better fuel economy and to EVs. But last year’s Q3 had been terrible: It was the quarter when dealers had run out of inventory because automakers had been cutting production for months because they couldn’t get the components needed to assemble their vehicles, because component makers had gotten hit by the chip shortages starting in late 2020 and early 2021. ![]() Sales of new cars and trucks in the third quarter, at 3.48 million new vehicles, was up about 2.8% from Q3 last year, according to data from the Bureau of Economic Analysis. Very different from prior recessions when the industry was caught with huge inventories and large production runs. ![]()
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