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chip shortage

AutoNation profit almost triples as chip shortage boosts vehicle prices
Business & Finance

AutoNation profit almost triples as chip shortage boosts vehicle prices

  • "Demand continues to exceed supply for new vehicles, and we expect this to continue throughout 2021, in part due to the production disruption," Chief Executive Officer Mike Jackson said.
  • AutoNation's gross profit per new vehicle at stores that have stayed open for at least a year jumped 61% to $2,739 in the first quarter from a year earlier. The company's gross profit per used vehicle jumped 17% to $1,744.
Published 20 Apr, 2021 05:41pm
US automakers post high quarterly sales even as chip shortage bites
Business & Finance

US automakers post high quarterly sales even as chip shortage bites

  • The need for increased personal safety during the COVID-19 pandemic has boosted sales for automakers, as people prefer to travel by their own cars to using public transportation.
  • The No.1 US automaker said it estimates that the seasonally adjusted annual sales pace for the first quarter of the year was around 16.7 million units.
Published 01 Apr, 2021 09:24pm