Demand outpacing supply in today’s auto market.
As reported on ESAROI.com last month, Toyota North America finished the second quarter of 2021 ahead of GM in total volume for the first time ever. Toyota’s sourcing and strategy enabled the automaker to workaround the microchip shortage plaguing most of the US auto market.
However, inventory will remain a concern well into 2022. Consumer pent-up demand is strong and lot supply is thin, and auto shoppers — and dealers — are expecting no relief until 2022.
Don’t expect much let-up in the current new-vehicle inventory shortage until well into 2022, due to high customer demand, the ongoing computer-chip shortage and the wild card of COVID-19 variants, according to Toyota executives … “It will probably be into the second quarter of 2022,” he says, “before we see the industry inventory stabilize in the area where supply matches demand.”
EVP Sales, Toyota Motor North America
Read the full article at Wards Auto:
Torrid Auto Sales Defy Inventory Shortages, Toyota’s Carter Says