📊Executive Summary

The article highlights the significant impact of a global semiconductor chip shortage on the automotive market, particularly in Maryland. Consumers are facing high prices and limited inventory for both new and used vehicles, with some models selling for thousands above MSRP. The shortage has resulted in a critically low supply of new vehicles, with availability dropping to just 25 days at the beginning of July. This situation is exacerbated by increased consumer demand as pandemic restrictions ease, leading to a highly competitive market where buyers have little negotiating power. Industry experts indicate that all manufacturers are affected, making it a widespread issue across the automotive sector....