Latest shock at pump is different as dealer lots remain bare

Ford dealership — Because of the semiconductor shortage, U.S. demand for both new and used cars and light trucks far exceeds supply. Each month, dealers have about 1 million vehicles on their lots, versus the typical 3 million or 4 million, AlixPartners says. (BLOOMBERG/Bloomberg)

By:

Gabrielle Coppola

By:

BLOOMBERG

March 11, 2022 04:29 PM

Gasoline prices that have soared above $4 a gallon this month are inspiring comparisons to 2008, when pump prices sapped demand for fuel-guzzling SUVs and helped push Detroit’s automotive behemoths into bankruptcy.

Featured Stories

Ford CEO Jim Farley’s 2024 compensation falls to $24.9 million

U.S. vibe shift: 5 takeaways from January’s mixed EV registration numbers

Murky math: As auto parts cross borders, a bookkeeping nightmare unfolds

Amid tariff uncertainty, Bollinger Motors restructures, names new CEO

Latest News

Toyota takes cautious approach to super-cheap EVs

Tesla warns it could face retaliatory tariffs

Ford CEO Jim Farley’s 2024 compensation falls to $24.9 million

GM CEO Mary Barra met with Trump on March 12 amid tariff fight

Staying current is easy with newsletters delivered straight to your inbox.

See More in Sales

February auto sales dip slightly, but consumer spending is up

Hyundai, Kia set 5th straight record sales in February; Ford, Toyota, Honda deliveries fall

Daily 5 report for Feb. 25: Good new cars under $30,000? Consumer Reports comes to the rescue

Market gets bounce from hybrids, light trucks to start 2025; SAAR slips below 16 million in January

Staying current is easy with newsletters delivered straight to your inbox.