“In 2018, the industry retailed just shy of 1.4 million new vehicles in December, so we are starting with inventory at 60% of the typical sales pace, or with just over two weeks of supply on the ground.” Even Sedans Are Hard to FindĪt the start of the inventory crisis, shoppers in the market for a sedan had an edge over those hunting for SUVs or pickup trucks. “Inventory ended November near all-time record lows, right about 850,000 units on the ground or soon to be arriving at dealerships,” Jominy said. Power’s vice president of data and analytics, vehicle inventory is still at rock-bottom levels despite the recent production recoveries. “While this is not necessarily going to open the floodgates of vehicle output, it will, if all goes as planned, allow growth in the industry in the new year compared to 2021.” Chevrolet dealership | photo by Kelsey Mays Inventory Shortage Continues Into 2022Īccording to Tyson Jominy, J.D. “Recent announcements from Ford and GM, among other manufacturers, provide hope that the semiconductor shortage will become less of a limiting factor for vehicle production,” Fiorani said. Sam Fiorani, vice president of global vehicle forecasting at AutoForecastSolutions, agrees that automakers are starting to regain their footing, but he notes that shoppers shouldn’t expect to reap the benefits instantly. (You can think of semiconductors and microchips interchangeably, though the former has a simpler core meaning.) GMC vehicle production | Manufacturer image Sooner-than-anticipated restoration of semiconductor manufacturing in Asia may ease the chip shortage to some degree in 2022. Although the microchip shortage continues to be a significant disruptor, automakers are learning to adapt to the tight supply to keep production lines moving. inventory levels are at their lowest levels since the global financial crisis of the late 2000s, but the needle is moving in the right direction for vehicle production. What’s the Status Today?Īccording to a December 2021 report from analytics firm IHS Markit, U.S. Related: Inventory Pinch: New Models You Might Find - at a PriceĪlthough we ain’t got no crystal ball to see exactly when this erratic market will turn a corner, a look at the current conditions and expert forecasts help to shed some light on whether shoppers should brave the storm or wait it out until conditions improve. What can you do if putting off a car purchase isn’t feasible?.When will inventory stabilize and car prices drop?.As the vehicle shortage drags on, we’re updating you on the current status of the market and addressing the pressing questions: We reported in 2021 on the factors responsible for the ongoing inventory shortage, along with advice for prospective car buyers. Patience may be a virtue, but it’s likely even the most forbearing car shoppers are fed up with empty dealer lots and stubbornly high prices both for new and used vehicles.
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