Dear Valued Customer,
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At Jim Pattison Lease, our values are Integrity, Quality, and a focus on Customer Service. Our values have carried us for 60 years now, and they are what will guide us in the future. First of all, I want to thank you for your business and loyalty over the years; whether you have been a customer for a month or 60 years, we appreciate each of you and thank you for the opportunity to serve.
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I am writing today to bring awareness to the ongoing disruption we are witnessing in the global automotive manufacturing industry. As of today in North America, the major auto manufacturers have cut over 1.3 million vehicles from this year’s production schedule due to parts and components shortages. Most of the disruption is due to the extreme backlog they are experiencing for the supply of semiconductors used in many integral components of today’s vehicles.
We are working with all of our customers to advise, consult, and plan for the impacts these delays may have on your business. Most importantly, customers are advised to look out at vehicle needs over the next 12 to 15 months and place replacement orders as soon as possible to secure inventory for next year’s models. We have never witnessed this type of delay amongst all the manufacturers at one time. These inventory constraints coupled with high demand are pushing vehicle prices higher for limited dealer stock and will continue into 2022.
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Our experienced Account Executives can work with you directly on recommendations for extending leases; right-sizing your fleet; researching alternative models or makes; and overall fleet best practices. We are in continuous discussion with major auto manufacturers and are working hard to prioritize commercial and work vehicles for our customers, and need your help in ensuring that orders can be placed early. It is most likely that 2022 model year vehicles in demand will be sold out earlier than usual as the manufacturers work to bring production back to normal levels.
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As always, we are here to serve our important customers and our Account Executives are available to answer questions and assist in any way we can.
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Sincerely,
Michael Rusch, CPA, CMA
President
