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Inventory Issues

All articles tagged with #inventory issues

real-estate2 years ago•2 min saved

Housing Market Faces Lowest Sales in 15 Years as Mortgage Rates Surge

Economists predict that the housing market in 2023 will experience the slowest home sales since the 2008 housing bubble burst, with an estimated 4.1 million sales of existing homes due to high mortgage rates and low inventory. Mortgage rates are currently at their highest levels in over two decades, discouraging potential buyers and leading to a drop in mortgage applications. The last time sales were this low was during the Great Recession, and while it opened up opportunities for first-time buyers, the current high rates are causing more homebuyers to stay put, exacerbating inventory issues. However, sales of newly built homes are holding up better than existing home sales, with prices dropping and builders being more motivated to close deals.

via Fox Business|

#home-sales #housing-market #inventory-issues

automotive2 years ago•1 min saved

The $20K Car: A Dwindling Choice for Americans

The Mitsubishi Mirage is currently the only car on the market under $20,000, with the average new car price in the US now exceeding $48,000. The scarcity of small cars and the growing popularity of trucks and SUVs have driven up prices, along with inventory issues and increased costs. General Manager of Mitsubishi of Orange Park, Lou Tilahun, believes the rising prices are due to parts shortages and shipping costs. Analysts at Cox Automotive predict that $20,000 cars will soon be a thing of the past, and Mitsubishi has announced that production of the Mirage will be ending soon.

via WJXT News4JAX |

#affordability #automotive #car-prices

automotive2 years ago•3 min saved

"Automakers Grapple with Strike Threats, Inventory Issues, and Supplier Chaos"

Detroit automakers are facing multiple challenges including the threat of a UAW strike, inventory buildup, and chaos in the supplier chain. The increasing pressure on automakers could have implications for car buyers and investors. Inventory is piling up on dealership lots, particularly for EVs, leading to tensions between dealers and automakers. Union workers are gearing up for a potential strike, which could result in significant financial losses for automakers and negatively impact investors. Additionally, parts suppliers are struggling to navigate the shift to electrification and are facing workforce constraints, inflationary costs, and debt accumulation.

via Business Insider|

#automakers #automotive #inventory-issues

business2 years ago•2 min saved

Levi Strauss Stock Plummets on Inventory Issues and Cut Outlook

Levi Strauss & Co. shares fell over 7% after the company cut its forecast for the year due to inventory issues and lower revenue expectations. The company now expects revenue to grow by 1.5% to 2.5% year over year, compared to the previous forecast of 1.5% to 3% growth, with adjusted earnings of $1.10 to $1.20 a share, down from the previous forecast of $1.30 to $1.40 a share. The inventory backlog and supply-chain challenges have impacted the company's ability to fulfill demand, while higher inflation and a slowing economy have also affected its wholesale business.

via MarketWatch|

#business #earnings #inventory-issues

business2 years ago•0 min saved

Micron's Stock Rises Despite Largest Loss on Record and Revenue Drop in Line with Wall Street View.

Micron Technology reports its largest quarterly loss on record due to an inventory write-down of more than $1.4 billion, but executives suggest a turnaround is ahead, especially in the key data-center market. CEO Sanjay Mehrotra said that inventory issues have peaked and the company is close to a transition to sequential revenue growth in its quarterly results. Despite the loss, shares held up as the memory market may be reaching a bottom and the supply-demand balance is expected to improve in the coming months.

via MarketWatch|

#business #data-center-market #inventory-issues