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IPFS News Link • Economy - Economics USA

"Cars Are 2021's Toilet Paper" - US Automakers Report Blowout First Quarter As EV Sale

• Zero Hedge

"The only explanation that I can even muster is that cars are 2021's version of toilet paper in 2020," said Chad Wilson, general manager of Wilson Ford in Saginaw and Midland Ford.

"We are taking a lot of retail orders because we don't have anything (in stock). Normally between our two stores, we'd have 150-180 F-series in stock. I think right now there might be 10. I do think there's an element of fear of missing out."

GM said its U.S. retail deliveries were up 19% in Q1, the company's first number reported against pandemic-impacted comps. The automaker sold 642,250 vehicles in the U.S. in the first quarter of 2021, according to Bloomberg. While retail sales were up 19%, fleet sales were down 35%

The automaker said its truck and full size SUV plants are currently at full capacity and that it's seeking to recover lost car and crossover production in the second half of 2021. 


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