Automakers have their hands full. In the last year the automotive industry has seen reduced inventory, price increases and production delays due to the ongoing semiconductor chip shortage. Big changes are coming for products and plants. The industry is in the midst of a big push toward widespread electrification and a zero emissions future.
Newsweek spoke with numerous automotive industry experts about what they think the market will look like, what trends will continue and what new things we may see in 2022. Here’s what they said.
Prediction 1: New vehicle prices will go up
Price increases are due to a multitude of things. Demand will continue to be high in 2022, even if inventories remain low. That means fewer dealer discounts and manufacturer incentives.
Due to the semiconductor chip shortage and pandemic-related supply chain restraints, the auto industry has seen a lower production rate than is traditional, across the