The chip shortage is much worse than you thought. Prices of cars will skyrocket and there are car shortages now. It is very bad for the economy. People have money to buy cars but there are too few cars at too high a price.
The extreme mandates really did a lot of damage and everything is so fragile.
~ Industry forecasters predict vehicle sales from July through September were less than 3.4 million, down between 13% and 14% from a year earlier.
~ The severe decline, including a massive fall in September, is due to the ongoing shortage of semiconductor chips for new vehicles.
~ Edmunds expects General Motors and Ford to have the largest third-quarter sales declines of 31.5% and 29.3%, respectively.