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Inventory Shortages Drive Car Shoppers to Neighboring States: Cars.com Reports 10% of Recent Buyers Traveled Across State Lines to Purchase a Car | News

– June 10, 2021

Car Supply Shortage Squeezes Sellers and Shoppers as Cars.com Finds Nearly 1 in 3 Recent Buyers Drove 100 Miles or More for the Car They Want1 

CHICAGO, June 10, 2021 — According to recent research from leading digital automotive marketplace and solutions provider Cars.comTM (NYSE: CARS), nearly 10% of recent car buyers drove out of state to purchase their desired vehicle, with more than half (52%) of those traveling 25 miles, nearly 20% traveling 50 miles and 13% of buyers traveling more than 250 miles to a dealership due to ongoing new- and used-car inventory shortages.

“With the current auto inventory challenges, recent car buyers are going to great lengths to find the car they want,” said Kelsey Mays, Cars.com assistant managing editor, news. “I don’t anticipate this trend slowing down, either. Of consumers currently in the market and shopping for a car,

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More car buyers looking out of state as inventories trail demand

Cars.com found 10% of recent car buyers went over state lines for their vehicle.

Nearly 1 in 10 recent car buyers, according to data from Cars.com, purchased their new vehicle in another state — with more than half driving at least 25 miles to a dealership.

Kelsey Mays, assistant managing editor of the automotive website, said increased demand and a global microchip shortage are to blame.

“There’s just no inventory right now,” Mays said in an interview with ABC News. “With lower inventory comes higher prices, with higher prices comes consumers having to travel more.”

Many microchip manufacturers halted production during the pandemic, Ivan Drury, senior manager of Insights at Edmunds, told ABC News. Car companies cut back on chip orders while other technology companies bought as many chips as they could.

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Automotive Coolant Market will Accelerate at a CAGR of about 5% through 2021-2025|Increasing Demand for Passenger Cars to upheave Growth|Technavio | State

NEW YORK, June 1, 2021 /PRNewswire/ — Set to grow by 38.31 mn gal during 2021-2025, Technavio’s latest market research report estimates the automotive coolant market to register a CAGR of about 5%. With a focus on identifying dominant industry influencers, Technavio’s reports present a detailed study by the way of synthesis, and summation of data from multiple sources. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. Receive Latest Free Sample Report in Minutes 

The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. BP Plc, Chevron Corp., China Petrochemical Corp., Cummins Inc., Exxon Mobil Corp., Indian Oil Corp. Ltd., MOTUL SA, Royal Dutch Shell Plc, Total SA, and Valvoline Inc. are some of the major market participants. The increasing sales of passenger cars and growing stringent norms to enhance fuel

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Automotive Parking Heater Market to see 2.89 Mn Units growth during 2021-2025 | Increase in Demand for Luxury Cars to emerge as Major Trend | Technavio | State

NEW YORK, June 3, 2021 /PRNewswire/ — The global automotive parking heater market is set to grow by 2.89 million units during 2021-2025, registering a CAGR of almost 3%. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.

Download a Free Sample of the report now to leverage the most relevant business insights!

The market is concentrated, and the degree of concentration will accelerate during the forecast period. Calix AB, DBK David + Baader GmbH, DEFA AS, Eberspächer Group, Hebei Nanfeng Automobile Equipment (Group) Co. Ltd., Pro-West Refrigeration Ltd., Truma Gerätetechnik GmbH & Co. KG, Victor Industries Ltd., Warmda LLC, and Webasto SE are some of the major market participants. The emergence of aftermarket DIY preheater will offer immense growth opportunities. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while

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