Business

Automakers start 2021 strongly despite supply constraints

Automakers have reported a surge in U.S. car sales in the first few months of 2021, boosted by continued consumer demand and some simpler year-on-year comparisons, but chip shortages and others Supply chain disruptions can upset that momentum.

According to industry data firm Wards Intelligence, US car sales increased 11.3% in three months. According to Wars, the industry’s annual sales pace in March could reach 16.8 million units, indicating that demand levels are about the same as before. Covid-19 Pandemic..

This increase is partly due to the collapse of the business at the end of March 2020, when the economy began to close to limit the spread of the coronavirus.

According to motor intelligence, a car data company, sales in the car industry in January and February were still down 3.3% and 13%, respectively. However, March sales are expected to grow exponentially, and industry forecasts show that car companies are recording double-digit increases over the previous year.

This year was a tremendous start for the US automotive business. Global shortage of semiconductors It disrupted production at many US factories, hurt car companies’ profits, and left dealers with low inventories of particularly popular trucks and sport utility vehicles.Then in February there will be a winter storm in Texas Further disrupted plastic production Used in sheet foam and other materials, it exacerbates industry supply chain problems.

Automakers start 2021 strongly despite supply constraints

Source link Automakers start 2021 strongly despite supply constraints

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