New car gross sales dropped within the third quarter resulting from ongoing provide chain points and a scarcity of semiconductor chips, CNN Enterprise reported.
In comparison with the identical quarter final 12 months, Basic Motors gross sales dropped a 3rd, and Stellantis gross sales slipped 19%. Toyota Motor gross sales inched up 1.4% for the quarter, however its September gross sales dipped 22%. Toyota Motor breaks out month-to-month gross sales, in contrast to GM and Stellantis, CNN Enterprise famous.
The automakers attributed the declines to provide chain points and the chip scarcity, based on the report.
Tesla reported document quarterly worldwide car deliveries however mentioned it too had been affected by these points, The New York Instances reported.
“We want to thank our prospects for his or her persistence as we work via world provide chain and logistics challenges,” the automaker mentioned in a press launch.
The scarcity of laptop chips wanted to construct automobiles has been affecting the trade for greater than a 12 months, based on CNN Enterprise. When auto gross sales plunged within the early weeks of the pandemic, automakers trimmed orders for chips. Later, when auto gross sales rebounded, the chips had gone to different prospects.
These provide disruptions have been affecting the used car enterprise too. Used automotive dealership chain CarMax mentioned its stock was 30% decrease than it anticipated and down 15% 12 months over 12 months, slicing into car availability however not but impacting the corporate’s gross sales.
Learn extra: CarMax Struggles to Construct Stock as Automobile Scarcity Continues
CarMax President and CEO Invoice Nash instructed analysts on a convention name the problem isn’t CarMax’s capacity to accumulate automobiles however reasonably continued fallout from the impacts of the pandemic. The corporate sometimes builds up its stock early within the 12 months, however it wasn’t in a position to try this due to disrupted new car manufacturing and document gross sales within the spring.
“It actually has been a headwind,” Nash mentioned.