GM Q2 quantity slips; Hyundai, Kia gross sales off 4th straight month on low stock

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Report-low stockpiles proceed to be a drag available on the market. What new automobiles and lightweight vans are on the bottom or allotted within the subsequent a number of months are largely already offered, sellers say. Nobody is definite when the chip scarcity will raise fully, solely that the restoration can be sluggish and certain stretch into 2024.

June marked the eighth-straight month that retail stock closed beneath 900,000 automobiles and lightweight vans, J.D. Energy and LMC Automotive mentioned.

Provide varies extensively by model and mannequin and area. Kia, Honda, Subaru, Toyota, Lexus, Land Rover, BMW and Porsche had the leanest provides final month, based on Cox Automotive, whereas Ram, Volvo, Dodge, Jeep, Audi, Buick, Cadillac and Infiniti had the very best days-supply.

Among the many 30 hottest fashions, the Honda HR-V and Civic, Kia Forte, Toyota Corolla, 4Runner, Camry and RAV4, and Nissan Altima, are probably the most scarce, based on Cox Automotive knowledge, whereas the Ram 1500, Jeep Compass, Ford F-150, Escape and Explorer, Chevrolet Silverado, Hyundai Santa Fe and Toyota Tacoma are extra extensively out there. (See close by chart.)

At Berger Chevrolet in Grand Rapids, Mich., Fleet Supervisor Bob Evans mentioned the order ebook for the 2023 mannequin yr has already been closed, with greater than 700 autos presold. “Demand continues to be robust however provide goes to be weak for some time,” Evans mentioned.

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