The lack of new-vehicle inventory is steering many dealers and consumers into the used-vehicle market, resulting in higher prices for both wholesale and retail used vehicles.
Today's video covers ongoing vehicle supply constraints in both the fleet and retail markets; upward pressure on fuel prices; and production slowdowns due to ongoing shortage of microchips impacting orders of 2021-MY vehicles.
This shortage is causing OEMs to reduce, or in some cases even stop, vehicle production, as they find it more difficult to procure semiconductors and electronics. As a consequence, this global shortage of semiconductors promises to further increase lead-times for affected vehicle models.
The pandemic exposed fleet policies to be woefully inadequate in addressing the needs of a health crisis. Fleets were forced to improvise policies and procedures to minimize the risk of contagion.
Volkswagen will offer a five-passenger version of its seven-passenger Atlas mid-size SUV and will build both vehicles at its Chattanooga, Tenn. assembly plant, the automaker has announced.
Nissan North America has expanded production of its NV cargo and passenger vans by adding a second shift to its Canton, Ohio, assembly plant, where Nissan recently celebrated production of 4 million vehicles.
General Motors will increase production of its Chevrolet Bolt EV this year at its Orion Assembly Plant in Oakland County, Mich., as part of the company's "path to an all-electric future," chief executive Mary Barra told attendees at an energy conference.
Ford Motor Co. is increasing production of its Expedition and Lincoln Navigator large SUVs by investing $25 million in the Kentucky Truck Plant where they are built, the company has announced.
Tesla only delivered 1,550 Model 3 cars in the fourth quarter of 2017 and won’t hit full scale production of the vehicle until June.
Ford Motor Co. will halt production of its Transit full-size van for two weeks to better align production with demand, the company said.
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