Topic: industry trends
As we wrap up a historic year, I’ve put together a review of 2021 and a look ahead to 2022 and beyond:
2021 Industry Review
- Supply chain disruption – What started as a shortage of semiconductors has become an everything shortage, leading to further disruption in automotive production.
- Demand remains high – Consumers continue to have high demand for private mobility, which combined with supply issues, is leading to historically high prices.
- Used recovery – While much of the focus has remained on new vehicles, the story with used is one of a near-full recovery in registrations. Used inventory has also remained more resilient than new.
- Return of inflation – Consumers are battling inflation on many fronts, perhaps most notably in vehicle prices, where new and used levels continue to reach historic highs.