Ford is cutting down production at eight factories starting Feb. 7 as the company recently warned that a shortage of computer chips would cause a fall in vehicle volumes for the first quarter of 2022. Production at plants in Chicago, Michigan, and Cuautitlan, Mexico, will be suspended, according to Reuters. At factories in Kentucky, Louisville,…
Global Vehicle Microchip Shortage Still Hurting Dealerships
The global microchip shortage is still greatly impacting both the new and used vehicle markets, with the nation recently seeing some of its highest prices on record. According to data released by Edmunds, a website that tracks vehicle prices, the average transaction price (ATP) for used vehicles during this year’s second quarter increased to $25,410, which marks the highest quarterly used ATP Edmunds has recorded. During the first quarter, the…
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