“By spring of last year, it looked like we were going to see record sales and then all of a sudden we had rolling factory closures because car companies couldn’t get enough chips,” Colias said. “If you drive by any dealership you’re going to see barely any cars in their new car lot.”and dealer principal at Brilliance Honda and Brilliance Subaru, has witnessed this inventory shortage first hand while noting that demand has been high, creating the perfect storm.
“This thing all along has been very choppy,” Colias said. “One manufacturer might be doing fine, and another has some of their most important factories down. I think we’re going to have those kinds of disruptions play out through the rest of this year. A lot of the executives are saying in the second half of the year, they might be largely out of the woods on this chip problem.”
“Values have gone up 30-40% on the pre-owned side and we were all used to having a depreciating asset until last year,” Keefe said. “The good news is that as a consumer, your vehicle is now worth 30-40% more on a trade-in.”all new car sales be electric vehicles by 2030“There’s still range anxiety, charging concerns … prices are a little higher for these cars so we’re going to wait and see if there are buyers for all these new models coming out,” he said.
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