New and used car shortage
JACKSON, TN (WNBJ)-
Covid-19 has caused many shortages in the last year, but one continues to remain an issue, the shortage of new and used cars. The shortage is part of the aftermath of factories shutting down last year. Modern cars rely on these tiny computer chips to power just about everything, but automakers can’t get enough these days to supply all of their new vehicle demands, leaving some to slow or cancel production of certain models. The strain on new car production has also impacted and driven up used car sales
Michael Chambliss from Golden Circle Auto group discusses how they are addressing this new challenge in the industry here in West Tennessee, “we’ve had to resort to selling more and more preowned cars and there has been somewhat of a shortage of them. We’ve taken steps of going out and offering to buy people's vehicles just from the public coming in. That’s been one of the big ways that we’ve been able to meet the supply of what our customers have wanted.”
Michael says that they can’t seem to keep cars on the lot because they are selling so quickly. To ensure that they get a car many people are choosing to order new cars directly from the manufacturers. Due to supply and demand, people shopping for cars have been met with fewer options and often higher prices. One buyer says that she has been looking for a used car since December without any luck.
“I’ve been looking for about since Christmas I would say. Just for a used 2016 forerunner is what I want, but prices for forerunners are very expensive right now. And it’s just not like affordable for cars," says Grace Shepard.
Grace and many others hope that a higher supply and lower prices are ahead. If you are shopping for a car and looking for the best deal experts say hold tight because we may see more stock and lower prices in the near future.
If you have to get a car now don’t be picky. You may get a better deal if you shop the models that a dealership has.