Sales of new cars in the US are growing

Sales of new cars in the US are growing. The high demand from customers in the first three months of 2020 was driven mainly by the ever-increasing hope of people to return to life before the pandemic. People also believe that they will return to their offices soon. In the foreseeable future, they also expect travel to return to normal. The light at the end of the tunnel brings people an ever-increasing number of vaccinated people, so more confidence has spread to the car market. However, due to the high demand for new cars, consumers are now buying even originally unwanted models. Many people are afraid of a possible shortage of new vehicles and therefore significantly reduce their original demands for a new car. "Many customers have bought a completely different car in the last three months than they were originally interested in. The change concerned individual models, equipment and colors, "Jeff Schuster of LMC Automotive, which examines the dynamics of the American automotive industry, told Bloomberg. Sales of new cars have been growing in the United States since last summer, when factories reopened. The trend has been growing ever since, and many automakers are significantly increasing their profits. Compared to the same period in 2020, purchases of new cars increased by up to twenty percent this year. According to estimates, deliveries of new cars in the first quarter of this year climbed over a record high of 3.1 million. However, consumers are now bothered by the ever-shrinking stock of cars. "The media often writes about the lack of new cars on the market, and this motivates customers to buy even those cars that they were not originally interested in. They don't want them to end up without a car, "Schuster added. The buyer was not deterred from buying new cars or their higher price. The average price of a new car in the USA during the first quarter of 2020 exceeded 37,000 US dollars. Compared to last year, it is more than $ 3,000. "The combination of high sales and higher prices means that US consumers will spend almost $ 180 billion on new cars in the first quarter. That's about 31 percent more than last year and about 18 percent more than in 2019, "said Thomas King, an analyst at JD Power market research. Now, however, coronavirus is hampering the supply of chips, which are very important for car manufacturers. Companies are having trouble getting chips because their manufacturers are focusing their capacity more on growing demand from consumer electronics manufacturers such as Apple. Their lack can thus slow down the production of new cars and potentially jeopardize the currently prosperous market.