auto industry

Worldwide there are approximately 60 million electric vehicles on the road. As EV adoption inevitably grows, we will see that number increase, as we are seeing more and more players in the EV market.

We’ve been saying it for years, but now in the Northeast consolidation is happening. One day we may even see the end of “mom & pop” owned stores, maybe even in the next 5 years not long after we experience “normalized” dealership operations post COVID and Microchip shortage.

Russia’s invasion of Ukraine has disrupted the entire world. This will be a definitive time in the history of the modern world. While we all have a social responsibility to follow this conflict and assist in our own ways, we also have businesses to run.

When we got to the end of 2020, we hoped things would be better, but 2021 gave us a lot of trouble too. The auto industry has been put through the ringer. So, what can we expect in 2022?

We’ve all heard the phrase “get your head out of the clouds,” but, now, the cloud is where everything is! Most online infrastructure and the tech that consumers interact with on a daily basis involve the cloud.

As vehicles become more technologically advanced and the push for electric vehicles grows, it was only a matter of time before we started seeing tech companies enter the auto industry. 

Just when production levels started leveling out from Covid-19 shutdowns, automakers are facing a new problem: a semiconductor chip shortage. Once, again, factories are closed or on  delayed production schedules, waiting for these components.

Q4 & 2021 Predictions

According to the NADA, "2016 has been an excellent year for the auto industry as we end with about 17.5 million new-car sales." NADA Chairman, Jeff Carlson said,  "It seems timing is on our side. In the regulatory and legislative arenas, NADA continued to hold its defensive line with the Consumer Financial Protection Bureau's intrusion into our business. We worked hard to gain traction for the critical Senate Bill 2663, which aims to curb the CFPB's regulatory overreach.

According to the NADA, "2016 has been an excellent year for the auto industry as we end with about 17.5 million new-car sales." NADA Chairman, Jeff Carlson said,  "It seems timing is on our side. In the regulatory and legislative arenas, NADA continued to hold its defensive line with the Consumer Financial Protection Bureau's intrusion into our business. We worked hard to gain traction for the critical Senate Bill 2663, which aims to curb the CFPB's regulatory overreach.