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Overheard: Habit Changes, Chip Shortages Spur Car Sales

Consumers snapped up new autos at pre-pandemic rates in the first quarter, according to a Bloomberg report.

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Bruce is the Audience Insights Manager at Babcox Media.

According to Bloomberg (the news service, not the ex-mayor): “Emboldened by signs the COVID-19 crisis may be waning and fearful of potential vehicle shortages, consumers snapped up new autos at pre-pandemic rates in the first quarter as the U.S. car market’s recovery likely gained momentum. U.S. auto sales surged by more than 8% in the first three months of the year, according to analysts’ estimates. The projected gain was powered by higher demand in anticipation of a return to offices and everyday travel as vaccination rates exceeded one-quarter of the population. Greater confidence in the economy spurred purchases as did fear of lower supplies of cars due to chip shortages.”

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