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U.S. auto dealers are winners as chip shortage lifts vehicle profits
Automakers from GM to Ford Motor (F.N) and Toyota (7203.T) have cut production this year due to the global semiconductor chip shortage. He wondered whether this could turn into the new operating model in an industry where consumers in the past were conditioned to seek incentives and rebates that reduced vehicle prices by 10% or more. Rival Lithia Motors (LAD.N) saw its profit per new vehicle jump 33% to $2,910 as its quarterly results trounced expectations. read moreThe good times won't likely end soon as many industry officials see the chip shortage lasting into 2022. Many dealers report thin vehicle supplies, in some cases as low as 15 days worth.
Source: Egypt Today April 26, 2021 09:56 UTC
