DETROIT — Car shoppers may be back in the driver’s seat. For months, consumers have wrestled with a pandemic-induced shortage of computer chips that has left dealer lots bare and prices soaring. Now, industry analysts see signs of improvement. Several major automakers, including General Motors Co., Ford Motor Co. and Toyota Motor Corp., said in recent earnings calls that they expect production to increase in the second half of this year as the global chip shortage begins to ease. At the same time, vehicle affordability, a major concern for many Americans, could get a boost as automakers ramp up production and increase inventory on dealer lots. While new-vehicle prices remain high, they are expected to start moderating as supply increases. The average transaction price for a new vehicle in the U.S. was $48,283 in July, down slightly from a record high of $48,301 in June, according to Kelley Blue Book. The lower prices and increased availability are welcome news for consumers who have been waiting months for their new vehicles or have been priced out of the market. .
Retail Investor Hopes for the Best
