sales

Car sales, used car prices impacted by semiconductor chip shortage

The economy continues to rebound from the COVID-19 pandemic, but with the ongoing semiconductor chip shortage, many are traveling far and wide just to get the car they desire. It doesn’t matter whether a vehicle is new or used, dealerships are running on empty. 

Nearly 10% of vehicle shoppers traveled out of state to purchase the ride they wanted, according to a new survey by Cars.com, an online automotive marketplace. Of the 12,000 respondents, 56% bought a new vehicle, while 43% bought a used vehicle.

A shortage of computer chips has caused a number of automotive factories to shut down temporarily in recent months, as they can’t finish building new vehicles without adequate parts. 

► Car rental delivery?: Uber Rent looks to shake up the rental car industry.

► Average age of vehicles at all-time high: Cars, trucks, SUVs getting older as used car prices soar

Those issues have contributed

Read More

Car sales witness 247 per cent growth in May 2021

Car sales in Pakistan have witnessed a steep growth of 247 per cent in May 2021, compared to the same period last year in May 202, when there was a lockdown due to covid-19.

As per the data released by the Pakistan Automotive Manufacturers Association (PAMA), a total of 15,696 units were sold by the automakers in May 2021 against 4,527 units in May 2020.

While on a month-on-month basis, auto sales have dropped by 9 per cent due to the impact of double digit inflation rate.

A JS Global report has revealed that the Pak Suzuki Motor Company (PSMC) has enjoyed a robust sales growth of 131 per cent year-on-year, recording total sales of 8,307 units in May 2021. “Alto contributed 41 per cent to the company’s unit sales,” said the report.

 

It added, “Sales of Indus Motor Company jumped by 755 per cent year-on-year to 4,676 units as

Read More

Automotive Diecast Scale Model Market will Accelerate at a CAGR of over 6% through 2021-2025|Collector Clubs Driving Sales Of Diecast Scale Models to upheave Growth|Technavio | State

NEW YORK, May 31, 2021 /PRNewswire/ — Set to grow by USD 1.19 billion during 2021-2025, Technavio’s latest market research report estimates the automotive diecast scale model market to register a CAGR of over 6%. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Download Latest Free Sample Report 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Amalgam Collection, Bburago International Inc., Exoto Inc., Hamleys of London Ltd., Hornby Hobbies Ltd., Jada Toys Inc., KYOSHO Corp., Maisto International Inc., Mattel Inc., and NOREV are some of the major market participants. The expected high resale value driving collection of diecast scale models, collector clubs driving

Read More

April new car sales in ‘artificial’ 3,000% increase as showrooms reopen



a car parked in a parking lot: Vauxhall Corsa


© Provided by Motoring Research
Vauxhall Corsa

New car registrations grew 3,176 percent in April 2021 as showrooms reopened – but the Society of Motor Manufacturers and Traders has urged caution at this ‘artificial’ figure.

Lockdown closures in April 2020 saw just 4,321 new cars registered, mainly to essential workers.

Last month’s volumes remain 12.9 percent down on the 10-year average with 141,583 new cars registered. They are also lower than April 2019.

Private car buyers have been returning to retailers since they reopened on 12 April, shown by a more than doubling of market share.

Last year, just 871 retail cars were sold: last month, this rocketed more than 7,000 percent to almost 62k cars.

Even so, demand from consumers is still 14.5 percent down on the 10-year average.

The SMMT has also pointed out that pure electric car sales were, unusually, beaten by plug-in hybrid (PHEV) volumes.

Read More