Using below bullets to help come out the statement and citation.Explain the current situation in the car industry using conventional microeconomic theory.

Disruptions on domestic automotive sector due to Covid 19 - close down of show rooms, manufacturing output reduce - now picking up (show stats)

Chip shortage - supply chain disruption - waiting period long for certain cars

Surging demand expected if SST exemption not extended

Tax holiday 100% CKD and 50% CBU

Slow rate of electric vehicle (EV) - 0.05%

Car subscription model slow - limited to Toyota, Renault, Nissan Leaf, Macan