Record auto dealer profits driven by chip shortage

Limited inventory for both new and used vehicles due in part to the current computer chip shortage is helping to increase profits for dealers, automakers and auto lenders, Forbes reports. The chip shortage combined with high consumer demand for trucks and cars is causing some dealerships to report all-time record average per vehicle sales. At the moment, dealers, automakers, and auto lenders have little motivation to offer discounts, especially considering that some dealerships are noting all-time-low new-vehicle inventories. (Source: Forbes) Read the original article…

About Todd Phillips

Todd Phillips is the editorial director of Universus Media Group Inc. and the editor of Canadian auto dealer magazine. Todd can be reached at tphillips@universusmedia.com.

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