The car industry has so far ridden out the shocks of Covid and subsequent supply chain disruption surprisingly successfully, at least as far as profits show.
But the greatest shock might yet be around the corner and prove far harder to overcome: a collapse in demand.
The consumer’s desire for new cars has so far outstripped the limited supply, allowing car makers to pare back marketing costs, including discounts, and focus on the pricier cars making the most profits. Car makers have even been able to pass on the cost of rising raw materials without worrying too much about orders.
However, a new survey from Autocar sibling What Car? that canvassed the opinion of those in the market for a new car showed that 37% had decided to delay their…
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Autocar (Digital) - 1 Issue, August 3, 2022