There’s pent up demand from the year of COVID. Many households spent an entire year putting off getting married, buying a house, buying a car, eating out, etc., and saved a ton of money in the process.
This year, there’s 2021 + 2020 demand piled on top of each other. And historically low interest rates only make it all to tempting to sit on the sidelines.
Eventually, the chip shortage will ease, demand will satiate, and dealers will go back to stocking vehicles and having to haggle to sell.