rebound

New Car Sales in 2022 Will See Bigger Rebound as Chip Supply Improves, Analyst Says

After a shortage in computer chips contributed to a shortage in new cars in 2021, analysts expect an improvement in chip supplies in 2022 to help new car sales rebound. An average gas-powered vehicle has about 1,000 computer chips, while electric-powered cars can have more than double that total, leaving the market with low car supply and high prices without sufficient stock.

Phil Amsrud, an IHS Markit analyst who follows automotive chips, predicted that supplies wouldn’t get better immediately in 2022 and would likely be better in the second half of the year.

“We’re seeing 2022 as being an improvement over 2021, but it’s not going to start January third or fourth,” he said.

Still, experts and analysts are unsure when chip supplies will reach levels from before the pandemic.

Cox Automotive predicted that new car sales in the U.S. will increase this year by more than one million to

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Hertz Posts Higher Revenue, Plans to Relist Amid Travel Rebound

Car-rental company Hertz Global Holdings Inc. said it plans to relist on a major stock exchange by the end of 2021 as its quarterly revenue surged amid a travel rebound.

For April through June, Hertz posted sales of $1.87 billion, growth of 62% compared with the first three months of the year. Sales remained significantly lower than pre-pandemic levels but marked a substantial recovery compared with last year’s spring quarter, when the pandemic brought much of leisure and business travel to a halt.

As vaccination campaigns helped ease the pandemic in the first half of this year, more people hit the road again. Meanwhile, automotive production challenges have squeezed all corners of the car market, raising prices for used cars and keeping rental fleets tight. For Hertz, demand has been resurgent and slim car-rental inventories industrywide boosted the company’s results, Chief Executive Paul Stone said.

“The rental-car industry was

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The pandemic car buying rebound is real as sales rocket 110%

America is itching for a new car, collectively.


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It wasn’t hard to imagine substantially better year-over-year sales figures for April, considering much of the US shut down amid the coronavirus pandemic in 2020, but record breaking sales? That’s the expectation, according to JD Power and LMC Automotive’s retail sales forecast, released Wednesday, with an estimated 1,325,500 new cars sold.

April 2021 sales are expected to catapult upward by 110% year-over-year, compared to April 2020 when millions of Americans were under stay-at-home orders and numerous businesses closed their doors. In short, as we wave goodbye to this month, the retail sales figure will go down as the highest ever recorded for the month of April. However, to underscore the excellent sales month, adjusted for the number of selling days, sales are still

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