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Car prices hit an all-time high this year, with the average price of a new vehicle landing at $47,000, “its highest record yet,” according to Entrepreneur. With advancements in 3D printing, sales shifting to a totally online model, and autonomous and electric vehicle adoption on the rise (not to mention smart and connected cars as well), experts anticipate a full-on revolution within the auto industry by 2030. But what will things look like until then? Consider this:
New buyer habits and continued supply shortages
With the start of the pandemic came dwindling demand for the auto industry, which meant car manufacturers stopped ordering semiconductor chips and producers stopped making them, focusing on smartphone and cloud computing chips instead. But now, when the industry was expected to have already made its comeback, production is still at a halt across the board. Ford temporarily closed eight of its plants earlier this year due to the shortage, for instance, and other manufacturers have followed suit as well.
