Nowadays we see the global crisis in the world. People can’t get on well after the COVID-19 pandemic. Many industries lost the usual income and customers. The auto market in the US suffers a lot because of new conditions. Every business model should be reviewed and improved. Some entrepreneurs and car manufacturers are nervous and close the business. However, there are strong players who found the opportunity to grow. Car lease deals are possible now despite the tough situation.

Grand Prix Motors experts gathered the main information about global changes in the world. Stay tuned!

a man holding the newspaper named business

Key points

  • The auto industry struggles from pandemic crisis more than others
  • Chip shortage keeps the situation worse
  • Car pricing is going to be even higher than current
  • Lease deals which provide trade-in option are the best ones

Global changes

We will not tell you the big news about the problems after the COVID-19 pandemic. All of the industries caught the killing effect. Some companies haven’t improved their positions yet. The ability to adapt to a new reality helped the businesses to survive. For instance, Uber rebuilt the structure and launched new services. Many big companies started new activities and changed the direction of work.

The decisive pandemic problem became the shortage of everything. So, the manufacturers complained about plastics, glass, and computer chips shortage. There is also higher demand for different things like gardening equipment to kitchen appliances. The problem with production causes the lack of goods and more aggressive pricing.

Auto industry problems

The automakers were confused with the flow of problems. The most important one was plants’ closures. A lot of manufacturers complained about all the parts shortage. In general, sales of the new cars in the US have become 23% lower since spring 2020. The current situation in the leasing market is described here.

a chart informing the new vehicle sales since before the pandemic
Sales statistics

According to Auto Forecast Solutions, chip shortage totally influenced the situation.

a table of comparison on the impact of a chip shortage on american automakers
Global Chip Shortage

New price policy

Therefore, the chip shortage caused an unexpected problem of high prices. The manufacturers work under pressure of conditions. Customers noticed that SUVs and pickups have obviously higher than average prices. They are not satisfied with that and avoid buying or leasing cars now.

The biggest deal was when auto production restarted the work. It was difficult with the lack of chips. Finally, the US dealers had fewer than 1 million new cars. So, the price of new cars remained high as hell.

Pricing of lease deals

Leasing companies try to keep the policy affordable for customers. The trade-in option opened the way for a successful further partnership. Of course, the prices will be much higher than before. However, special conditions help you to make the lease deal cost-effective.

Opportunities for business

Every crisis is an appropriate moment for new solutions. Sometimes manufacturers don’t see the way to create an innovative thing. Moreover, they don’t want to find them because of stability and lack of change. People are used to their way of living and working. All unexpected events make us review the activities and update everything. In addition, global challenges can turn the world into a new civilization.

Lease deals news

For example, since 2020 we have lived by new rules and laws. The business has changed a lot. Fortunately, the car manufacturers implemented some new ideas. Car lease deals remained available with a good price and profitable conditions. US auto market showed new opportunities both for transport and leasing companies.

You can always consider making some money with the exclusive buy back program. This way you bring your current vehicle in to apply the money for your next lease.

First, such turbulence provides closer cooperation of tech companies and car manufacturers. The ability to present new products and update the production line is a great forecast!

Second, we have to think globally and change the approaches. Chip shortage affected the auto business. Car dealers and makers saw their weaknesses and dependence. That’s why the analysts make forecasts to make society feel confident. As a result, we can learn how to overcome the problem!

chart depicting the peroids of time needed for solutions to the chip shortage
Chip shortage


Therefore, car lease deals are available if you find the right time and place. Despite the global crisis, we can find opportunities to develop. New conditions and rules help us to provide a reliable partnership. The cooperation with the leasing company will cost you a lot if you are not aware of the news. Contact us now to discuss the lease specials and find your auto!

#enjoy your freedom with Grand Prix Motors!

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