Pricing power and pent-up demand dominate 2022 auto retail forecast – Jonathan Banks | J.D. Power
Vehicle pricing and supply have yet to normalize, so what could this mean for the industry in this second quarter and the remainder of the year? Today on Inside Automotive, we’re pleased to welcome Jonathan Banks, Vice President and General Manager for Vehicle Valuations at J.D. Power, to update us on the market and what he expects moving forward. Watch the complete segment here.
Nissan dealers in the U.S. have been told to stop taking orders for the 2023 Ariya SUV due to ongoing supply chain issues. The automaker said it was closing reservations, to manage the current number of orders without making customers wait a long time for their vehicles. The Ariya is produced at Nissan’s Tochigi plant and will join the Leaf hatchback as the automaker’s second mass-market electric vehicle in the U.S.
Rivian is going through another management shakeup, as Manufacturing Executive Charly Mwangi will reportedly be leaving the company. Mwangi joined rivian in may of 2020 after working in Tesla’s engineering department and has led the electric automaker through the releases of its R1T truck and R1S SUV. Frank Klein will serve as his successor and start his position as a Chief Operating Officer this week.
Taiwanese electronics giant Foxconn is forecasting a notable improvement in supply chain logistics later in the year. The company expressed confidence that the semiconductor chip shortage will ease up for the auto industry, and fewer vehicles will sit idle just because they need the chips. Foxconn said it is also planning on producing the chips as it works towards becoming a strong part of the worldwide electric vehicle market.
Tesla is also reportedly experiencing a parts shortage that is delaying production and delivery. Customers have reported they have not received their vehicles because Tesla can not secure enough electronic control units needed for its charging ports. Various customers have reported they have VIN numbers for their vehicles but will not be able to drive them until the ECUs are installed.
News & Opinion:
What do customers expect from your car dealership’s live chat solutions?
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Millions of airbag recalls remain outstanding in the U.S.
In Georgia, June has been declared Airbag Recall Repair Month by Check To Protect. And in Arizona, Governor Ducey has also declared June Airbag Recall Repair Month. It’s in response to the hundreds of thousands of vehicles still driving in the states with outstanding airbag recalls. Years after the recalls were initially introduced, it continues to be an issue that needs to be addressed by not just the vehicles’ owners but by franchised dealerships too. The campaign brings to light the infamous Takata airbag inflator recall that has slowly faded from the headlines but continues to plague vehicles on America’s roads. Exposed to heat and humidity – conditions that are prevalent in most US states throughout the summer – the airbags can cause more injury than they prevent in a collision. Read More
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