Stellantis CFO Richard Palmer was much less optimistic about chip provides than different automaker executives, predicting they may stay briefly provide for the remainder of 2022.
“I believe it is getting higher,” he mentioned, “nevertheless it’s a sluggish course of.”
Regardless of low stock ranges and worth will increase on many vital supplies, automakers continued to capitalize on demand for brand new autos.
For GM, half of the inflation skilled within the quarter was pushed by uncooked materials prices. The opposite half was associated to logistics and different provide chain challenges, Jacobson mentioned.
“Costs stay robust,” Jacobson mentioned, “and have remained larger than we estimated firstly of the yr, which helped partially offset incremental uncooked materials prices.”
GM’s common transaction worth rose 5 % to $50,261, in keeping with Cox Automotive. The Stellantis common was up 12 % to $54,065 and Ford’s was up nearly 10 % to $51,995, Cox mentioned.
“Till manufacturing ramps up and stock builds, we see demand remaining excessive,” Krebs mentioned, “and due to this fact we count on costs to stay comparatively excessive.”
On the similar time, automakers are saving cash by not having to supply many incentives.
The common low cost fell to $1,201 per automobile for Ford, $1,906 for Stellantis and $1,705 for GM, Cox mentioned.
Ford’s Lawler mentioned the automaker anticipates robust demand for the remainder of the yr, regardless of economists’ issues a few potential recession.
“The trade continues to run stronger than we will provide,” Lawler mentioned. “At this level, we have not seen it decelerate.”
Michael Martinez and Vince Bond Jr. contributed to this report.