SHOPSMART AUTOS – CUSTOMER INFORMATION – OCTOBER 25, 2021 –PT -1

Written by admin on October 25, 2021. Posted in Audi, Car Specials, Chevrolet, Dodge, Electric Vehicles, Honda, Hyundai, Mercedes-Benz, Nissan, SUV

• 
  U.S. new light vehicle sales in September
   fell to an estimated SAAR of 12 million units to 12.2 million units, representing the lowest sales pace since May 2020.
• 
  Full-year 2021 U.S. new light vehicle sales 
  are forecast at 
  just under 15 million units
  , down from a previous projection of 
  15.7 million units 
  by LMC Automotive, with the impact of 
  low new vehicle inventory 
  on sales now expected to persist until late 2022 or early 2023.
• 
  U.S. fleet sales 
  reached an estimated 1.3 million units for January – September, 
  41% lower than for the same period in 2019
   and just 3% higher compared to the same period in 2020.
• 
  IHS Markit
   estimates that 
  global light vehicle production has lost 7.4 million units
   through the third quarter of this year, with Ford and GM experiencing the most significant production disruptions as a result of the chip shortage.
• 
  Lead times for semiconductor orders
   increased to an average of 21.7 weeks in September, rising for the ninth consecutive month.
• The 
  Geneva International Motor Show
   will postpone its annual event from March 2022 until 2023, due to coronavirus-related challenges.
• 
  GM
   plans to double revenue to $280 billion by 2030, with growth supported by new EV models, as well as business lines including Cruise, BrightDrop, and software services.
• 
  Electric vehicles and low emissions technology
  :
  • 
    Stellantis
     will invest $229 million to retool three Indiana plants to build eight-speed transmissions that can be used in electrified and internal combustion vehicles.
  • 
    GM
     will establish a new battery research & development center at its Warren Tech Center. Construction of the 
    Wallace Battery Cell Innovation Center
     is scheduled to be completed in mid-2022.
  • 
    Lithium prices
     have more than doubled in the past year, and global lithium demand is projected to increase five-fold by 2030.
  • 
    Tesla
     will move its corporate headquarters from Palo Alto, California to Austin, Texas. CEO Elon Musk said the company will continue to expand in California, with the goal to increase output by 50%.

• Manufacturers continue to face the challenge of 
  soaring steel prices
  
  , 
  with average spot prices more than tripling in the past year.
• 
  Global supply chain constraints
   are expected to persist “well into next year” and may impede economic recovery. Ongoing issues include shortages of components and labor, high prices for freight and raw materials, and bottlenecks resulting from countries experiencing lockdowns and coronavirus-related restrictions.
• Efforts by the 
  Biden administration
   to collect semiconductor supply chain data are being met by concern from global chipmakers. The companies were asked to voluntarily disclose information by November 8 about inventories, backlogs, delivery time, procurement practices, and key customers.
• 
  North American Class 8 truck orders
   declined 10.9% in September, compared with a year earlier
  , 
  as manufacturers struggle to balance pent-up demand with supply chain constraints.
• 
  China
  ’s Ministry of Industry and Information Technology indicated that it will implement assessment measures to 
  regulate data sent abroad by vehicles, 
  but did not provide details for how the assessments would be conducted.

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