• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Home
  • News
  • Classifieds
  • Financial
  • Food
  • Life & Culture
  • Politics
  • Vent Line
  • Contact

The Genesee Journal

Mid-Michigan Living

Auto Industry Likely to Follow 2021 Trends in 2022

Auto Industry Likely to Follow 2021 Trends in 2022

January 5, 2022 by GJ Staff Leave a Comment

Due to continuing chip shortages and supply chain issues, both used and new car prices are likely to continue to remain high, or even increase further.

“The computer chip shortage continues into 2022. It doesn’t seem like it’s getting better. There are reports out there that it might be getting a little worse, in a sense that that cities in China where these chips are manufactured are starting to shut down again,” said U of M Flint Economics professor Chris Douglas.

With the inflation rate reaching 6.8% from November 2020 to November 2021, consumers are wondering how to proceed.

Douglas says that the longer people can hold onto their cars to ride out this supply chain and chip shortage disruption, the better off they will likely be a few years from now when hopefully things have turned around.  So if someone owns their car, Douglas said to drive it until the wheels fall off.

And when they do fall off, put them back on and keep driving.

Filed Under: Financial

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recipe Rating




Primary Sidebar

Culvers on Miller Rd

Recent Ventlines

  • Julie said Well I was pre-approved for 250,000. Now I’m only approved f...
  • Steve said Wish I could have stored some barrels of oil from when covid...
  • Sarah said From the time I started looking for a few months ago until t...
  • John said So Happy that is seems that covid is finally over
  • Jim said Can I financem y next gas fill up
  • Madison said Could you please forward to me as well? I can’t find it on t...
  • Adrienne said I feel terrible for the family members of the four year old...
  • Jennifer said I hope the Shiawassee assistant prosecutor has learned a les...
  • Debra said I am so confused about what to do for the holidays. Fauci wa...
  • Joe said I heard and felt the explosion yesterday. It was terrifying!...

Copyright © 2022 · GeneseeJournal.com · All Rights Reserved.