Buyers Snapping Up New Cars, Even If They’re the Wrong Color
- Inventory shortages are driving consumers to get what they can
- As vaccines roll out, commuters look toward a return to normal
A Ford Motor Co. car dealership in North Brunswick, New Jersey.
Photographer: Angus Mordant/BloombergEmboldened 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.
That has left consumers scrambling for any steering wheel they can lay their hands on, accepting less-than-optimal colors, features and even swapping to a different model entirely if they must.