Shortage

Car industry could take six months to recover from chip shortage

By Michael J. Moody 2 weeks ago

TipRanks

2 Compelling Dividend Stocks Yielding at Least 8%; Oppenheimer Says ‘Buy’

The crises of the past year – the COVID pandemic, the social lockdowns, the economic shock – are on the wane, and that’s good. However, the crisis post-mortems are rolling in. It’s only natural to compare the current economic crisis to the ‘Great Recession’ of 12 years ago, but as Oppenheimer’s chief investment strategist John Stoltzfus points out, “Considering the differences in what caused the Great Financial Crisis of a little more than 12 years ago… and the current crisis… it’s little wonder that as good as things are when compared to this time last year there remains much to be revealed as to how the exit and the legacy of the pandemic crisis will take shape…” Stoltzfus also believes that the economic data, while suffering some setbacks, is generally resilient. Markets are rising, and that, as Stoltzfus

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Rental car shortage hits Volusia County, nation

By Michael J. Moody 2 weeks ago

DAYTONA BEACH — None of the arriving passengers in line with reservations at the rental car counters at Daytona Beach International Airport on Friday was worried about leaving without a vehicle, but the shortage of rental cars unfolding nationally is still having a ripple effect in Volusia County.

“My wife reserved this one two months ago, but the prices are outrageous now,” said Mark Palmer, 62, of Sturbridge, Mass., his keys and paperwork in hand from Hertz. “We rented a small SUV for $400 for three days. We looked at something bigger, a Chevy Tahoe, but they wanted $800 (for the same amount of time).”

As the economic effects of the ongoing coronavirus pandemic continue to unfold, the latest impact is hitting passengers that are starting to return to the skies and the nation’s roadways amid the rollout of vaccines and the gradual reopening of the hard-hit U.S. travel industry.

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NIO and Ford Idle Car Production Amid Chip Shortage

By Michael J. Moody 3 weeks ago

Chinese electric vehicle maker  (NIO) – Get Report and U.S. automaker Ford  (F) – Get Report are the latest automotive companies to idle production at some of their plants due to an ongoing shortage in semiconductor chips that has impacted global car and truck production.

NIO announced Friday it would halt production for five working days at its plant in Hefei, China. It also cut its first-quarter delivery forecast to around 19,500 vehicles, compared to the 20,000 to 20,500 vehicles it had previously expected.

That followed in Ford’s footsteps, with the automaker announcing Thursday it will idle production of its popular F-150 pickup truck at a plant in Michigan through Sunday due to the chip shortage. The carmaker had cautioned about the chip shortage affecting production following a bond sale earlier this month.

NIO and Ford are among several automakers that have been forced to

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7 Car Stocks To Sell on the Chip Shortage

By Michael J. Moody 1 month ago

Car stocks, especially shares of electric vehicles (EVs), have turbocharged portfolios in the past year. Meanwhile, the auto industry — which increasingly relies on semiconductors — has been in the limelight.

However, due to the current chip shortage, many car makers have announced they would be temporarily halting production. As a result, car stocks have come under pressure. And therefore, this article introduces seven car stock to sell in the short run.

Semiconductors are found in a wide range of products in computing, autos, telecommunications, military systems, gaming and healthcare. Chips are typically behind most technological innovation. But the semiconductor industry is cyclical. During periods of high demand, upturns occur. The pandemic has meant increased sales in consumer items that have now translated into supply shortages.

Business cycles also impact auto sales. When the novel coronavirus hit our shores about a year ago, shares of car makers tanked. But

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