The 68th State of the Fleet Industry video produced by Automotive Fleet offers an updated look at the state of the fleet market as presented by AF Editor Mike Antich.
Today's topics include:
- The most prominent parts shortage involves microchips, but there is a wide cross-section of automotive parts that are in short supply that varies by make and model of vehicle and type of part.
- It now takes 15-30 days longer to get replacement parts by collision repair shops.
- Parts prices have increased on average 20-30% due to higher commodity prices that are increasing manufacturing costs and decreasing margins, prompting price increases.
- Component manufacturers do not anticipate supply-demand imbalance to normalize parts inventories until CY-2022.
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⏱ Timestamps ⏱
0:20 The Ongoing Inventory Parts Shortage
1:00 Longer Vehicle Downtimes and Increased Costs
1:47 Part Constraints on Collision Repair Shops
2:54 Causes of Increasing Parts Pricing
3:37 Reasons for the Parts Shortage
4:34 The Pandemic’s Impact on Supply Chains
6:21 Higher Frequency of Parts Shortages
7:09 How Long Will the Past Shortages Last?
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Originally posted on Automotive Fleet
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