Find out how the microchip shortage is affecting vehicle sales, how OEMs are prioritizing production, and why there's a demand for used vehicles.
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.
This shortage is causing OEMs to reduce, or in some cases even stop, vehicle production, as they find it more difficult to procure semiconductors and electronics. As a consequence, this global shortage of semiconductors promises to further increase lead-times for affected vehicle models.
Mazda Toyota Manufacturing (MTM), the new joint-venture between Mazda Motor Cor. and Toyota Motor Corp., will invest $830 million to incorporate more advanced manufacturing technologies to its production lines and provide enhanced training to its workforce of up to 4,000 employees.
Commercial vehicle production in the U.K. fell by 57.2% in June, according to figures released by the Society of Motor Manufacturers and Traders (SMMT).
The production and sale of commercial vehicles in June were at 527,000 and 536,000, respectively, which indicated growth through the influence of trucks, with sales volume setting a new historical record.
The pandemic exposed fleet policies to be woefully inadequate in addressing the needs of a health crisis. Fleets were forced to improvise policies and procedures to minimize the risk of contagion.
Topics mentioned include a look at both fleet orders and retail sales trends of the past 60 days; the continued ramp up in vehicle production; fleet buying inclinations for model-year 2021; and more
As of May 26, FCA has restarted 22 of its plants in North America and enacted safety measures for its employees.
Topics mentioned in today's video includes assembly plant production ramping up; resale market improvements; the state of the car rental industry; and how Hertz filing for Chapter 11 industry could affect the industry.