The 68th State of the Fleet Industry video produced by Automotive Fleet offers an updated look at the state of the fleet market.
Today's topics include:
- The most prominent parts shortage involves microchips, but there is a wide cross-section of automotive parts that are in short supply that varies by make and model of vehicle and type of part.
- It now takes 15-30 days longer to get replacement parts by collision repair shops.
- Parts prices have increased on average 20-30% due to higher commodity prices that are increasing manufacturing costs and decreasing margins, prompting price increases.
- Component manufacturers do not anticipate supply-demand imbalance to normalize parts inventories until CY-2022.
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