Hey, Your Top Automobile News for June 03, 2021

Your Daily Automobile updates From Around The World [  The Automobile News]( You Might Like [Learn more about RevenueStripe...](     [Tesla CEO Elon Musk Says The Auto Chip Shortage Is Like The Toilet Paper Frenzy Last Year, Only Worse]( - Tesla CEO Elon Musk compared the chip shortage to the toilet paper buying frenzy in 2020. - He said the supply snags have caused companies to “overorder” semiconductor chips. - Tesla is reportedly in talks to stock up on the chips by buying in bulk ahead of time. Tesla CEO Elon Musk said the biggest issue the electric carmaker is facing is ongoing supply chain issues. He pointed to the global shortage of semiconductor chips that have cost automakers billions this year. “Never seen anything like it,” Musk tweeted on Wednesday. “Fear of running out [of computer chips] is causing every company to overorder – like the toilet paper shortage, but at epic scale. Last year, at the onset of the pandemic, many shoppers rushed to stock up on toilet paper out of fear of supply chain shortages. The buying frenzy left behind empty shelves, making products like toilet paper and Clorox wipes valuable commodities that sold on secondary markets for record prices. [Read Full Article](  [‘Bharat’ Can Lead India But Cannot Carry India In Auto Industry Revival: Maruti Suzuki]( The Indian automobile sector’s recovery last year was largely dominated by robust demand in the rural areas. However, the second wave of COVID-19 has affected rural parts as well, reducing their contribution. The Indian automobile industry was well on its way to recovery after the pandemic and subsequent lockdowns in various parts of India took a toll on sales and operations. The problem was further compounded by low buying sentiment among the public as they looked to save money for rainy days instead of spending on new vehicles. However, car and two-wheeler sales in India started picking up in the last two-quarters of the FY 2020-21 but the second wave of COVID-19 threw spanner in the works. With the number of cases increasing drastically several states across the country announced lockdowns that impacted automobile sales and production. And of course, the buying sentiment has once again taken a hit as people are wary of spending money on new vehicles. This has slowed down the industry once again, as is evident in May 2021 sales figures where almost every automaker registered a decline as compared to April 2021. But while the automobile industry was quick to bounce back last year, it doesn’t seem to be the case this time. Shashank Srivastava, Senior Executive Director, Maruti Suzuki India Limited, while talking to Times Drive, said that the auto industry’s revival will be slower after the COVID-19 second wave as compared to the first wave. He explained that a major reason for the Indian auto sector’s recovery last year was the contribution by the rural market and that has decreased this time. [Read Full Article](   [How Data Collaboration Is Helping The Automotive Industry Catch Up With Customers]( Like many sectors, the automotive industry has had a difficult year. With stay-at-home orders and national lockdowns in place for much of the last 12 months, purchasing a new car has not been high on the public’s shopping list in 2020, and UK car production dipped to its lowest levels since 1984 as a result. However, as the UK takes its first hopeful steps towards normality, we are seeing the beginnings of a rebound, with car sales in March 2021 rising for the first time since the summer. Car manufacturers are re-grouping on marketing strategies to ensure they make the most of the opportunities ahead. For this sector, digital marketing can pose unique issues. Unlike in other industries such as consumer goods or fashion, when purchasing products can be an everyday activity, most customers purchase a new car every couple of years at most. For car marketplaces like carwow, brand loyalty and retention is a top priority and timing is everything. Targeting an existing customer through digital advertising at the exact point they begin to look for a new vehicle can be the difference between keeping a customer or losing them to a competitor. [Read Full Article]( You Might Like [Learn more about RevenueStripe...](     Connect with the automobile news on Social Media Platform [Facebook]( [Twitter]( [Linkedin]( You received this email because you operate or create content for a website/service and based on your website it seemed like this could be important information to you and your users. This newsletter is managed by [Postbox Consultancy Services Pvt. Ltd](.C-4/5, IBD Emporia, Kolar Road, Bhopal, Madhya Pradesh, INDIA, 462042 Want to change how you receive these emails? [Update your preferences]( or [Unsubscribe]( Â