What explains the drop in US auto sales? It depends on who you ask

What's the story here?

US auto sales fell to 3.01m in August in a drop from 3.43m the month before, according to the Dept of Commerce.

The bad news is that it's about to get worse. GM today announced that it would cut production at eight North American assembly plants due to the semiconductor shortage.

If you've been to an auto lot lately, this chart will resonate.

By most accounts, consumer demand remains high and pricing is also high. J.D. Power forecasts average transaction prices will rise 16% this year to $41,378.

However, one very famous tech investor has another theory

That's the kind of insight that gets you $25B AUM.

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September 03, 2021 at 01:08AM
Adam Button
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