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After edging higher for a couple of months, available supply dipped by the end of August.
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Tight vehicle inventory continues to vex the auto industry while high prices deter buyers.
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Despite lower production, there are more vehicles ready to be sold due to sales losing momentum since June.
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Moderated by Jim Press, former COO of Toyota North America, experts from the commercial vehicle, fintech, and automotive investment sectors will discuss forward-thinking solutions at the 2021 Fleet Forward Conference.
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A recent quarterly report from Haig Partners shows that buy-sell activity among auto dealerships has exploded, leading to "empty lots and overstuffed wallets."
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As August opened, inventories were running 53% below 2020 levels and 68% below 2019 levels.
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The current low-supply, high-demand situation means finding and buying a new vehicle may be a challenge.
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High consumer demand and low inventories have allowed Ford to push average transaction prices to new highs.
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Market watchers had been expecting this slowdown to come earlier in the summer, but deals could still be made. Now there just isn’t enough product available.
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Today's video covers ongoing vehicle supply constraints in both the fleet and retail markets; upward pressure on fuel prices; and production slowdowns due to ongoing shortage of microchips impacting orders of 2021-MY vehicles.
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