Locator: 44318B.
I was a year early on this. I predicted in early 2022 that we would see a huge glut of cars come on the market by the summer of 2022 but I completely misunderstood / underestimated how bad the "supply chain" (euphemism for lack of chips) actually was. Here.
But apparently, analysts see improvement this year, link here.
A glut of cars on the market is to trigger a price war among manufacturers as demand fails to keep pace with supply, analysts have forecast.
UBS has estimated that global car production will exceed sales by 6pc this year, leaving an excess of five million vehicles that will require price cuts to shift.
A brimming order book for most carmakers means that prices are likely to remain high for the first half of the year, analysts at the bank said.
After that, sluggish economic growth and higher living costs will squeeze potential buyers’ ability to afford new cars, which is likely to hit prices as cars remain unsold.
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