Supply constraints sent dealerships' new-vehicle inventory levels plunging last year, and while 2022 could bring a slight improvement in vehicle production, the industry may not see relief until at least next year, according to the National Automobile Dealers Association.
But the coronavirus pandemic and microchip shortage also have made dealers more creative and efficient in how they do business, from diversifying how they source used vehicles to improving salesperson productivity, Patrick Manzi, NADA's chief economist, told Automotive News last week.
Those are among the takeaways from the association's NADA Data 2021 report, an annual financial profile of U.S. franchised new-vehicle dealerships. The report highlights inventory levels, new- and used-vehicle sales, employment and payroll trends, among other metrics.