FROM REUTERS: ‘December to Forget’: Automakers, Retailers Cut TV Ads Amid Supply Chain Woes
Automakers will be paring down their traditional holiday advertisements this winter due to limited inventory levels. Digital and TV advertising have already dipped 10% and 5% respectively in prior months.
FROM CAR AND DRIVER: Here Are Features Some New Cars Won’t Get Because of the Chip Shortage
Instead of delaying model production completely, many OEMs have opted to forgo chip-dependent vehicle components such as touchscreens, radio functions, and charging capabilities.
FROM AUTOMOTIVE NEWS: Dealerships Have Already Beat 2020’s Profit Record
The average franchise dealership has raked in over $3 million in net profit in the first 9 months of 2021 thanks to per-vehicle gross profit increasing 65% for new vehicles and 36% for used.
FROM BLOOMBERG: There Will Be Jobs in the Electric Vehicle Economy
Engine and transmission builders make up 20% of auto laborers, but U.S. OEMs feel confident that the switch to EV production will sustain and create alternate job opportunities for their workforces.