Pendragon warns of shortages
31 March 2021
Pendragon, which last week announced it had cut losses during the pandemic, has warned of short-term vehicle supply issues due to both Covid-19 and the global chip shortage. “There is going to be some turmoil in the business over the next 6-18 months when it comes to the supply of new and used vehicles,” said CEO Bill Berman. “We are actively working with OEMs to make sure we have the proper supply of vehicles, but often times we are kind of at their mercy when it comes to that.”
However, the resultant increase in demand could lead to better margins, he added.