Car sales plunge as chip shortages stifle supply
General Motors said its sales fell by a third from last quarter last year, and were down 40% from the same quarter of 2019 before the pandemic hit the auto market. . Sales of Stellantis, the company formed by the merger of Fiat Chrysler and French group PSA, fell 19% from a year ago and 27% from the pre-pandemic period.
So, all automakers have pointed to semiconductor supply chain disruptions and historically low inventories as a sales issue.
âAs the various supply chain issues facing our industry continue to impact inventory on hand, we know the demand for our vehicles is still there,â said Jeff Kommor, Head of State Sales. -Unis for Stellantis.
“The semiconductor supply disruptions that affected our wholesale and customer shipments in the third quarter are improving,” the country’s largest automaker said in a statement. âAs we look into the fourth quarter, a steady stream of vehicles held in factories will continue to be distributed to dealerships, we are restarting production in major crossover and car factories, and we look forward to a more favorable environment. ‘more stable operation until the fall. “
Other automakers are expected to release their results later Friday or Monday.