“The inventory crunch will likely get worse before it gets better. Inventory levels at the end of June will probably be flat compared with May 2021 at around 1.5 million units and then fall to some 1.3 million units by the end of July. Some OEMs have canceled traditional summer shutdowns, while others have limited or stopped production as they deal with the chip shortage,” said Patrick Manzi, NADA Chief Economist.