Q3 SiriusXM New Car Trials Slid 21% on Chip Crunch
Automaker production shortfalls induced by the global chip shortage sent SiriusXM “new car trial stats” tumbling 21% in Q3 from the second quarter's “record high,” said CEO Jennifer Witz on a call Thursday. Used car trial stats fell 6% sequentially.…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
“This means that in the fourth quarter, we'll see more than a million fewer conversion opportunities than we saw in the third quarter,” she said. “Most automakers and industry forecasters believe the timeline to recover from supply chain-related issues is sometime between mid-year 2022 and early 2023. Most expect recovery from these issues to be gradual next year, as opposed to a sharp bounceback.”