Shortage of computer chips drives up car prices
CEDAR RAPIDS, Iowa (KCRG) - Car dealerships have experienced a shortage of inventory because a chip shortage has shut down some auto plants.
This is also impacting used car dealerships. Andrew Miller, the General Sales Manager at Westdale Used Car Superstore, said they are seeing an extremely low inventory level this year. Their lot typically fits up to 180 cars, but they currently have less than 70 for sale.
“The supply and demand, obviously us trying to grab inventory from auctions has been extremely tough, which has made the prices of our used car inventory go up,” Miller said.
Miller said they are seeing a lot more clients who would normally prefer a new car but aren’t able to afford it because of the high prices.
Westdale Used Car Superstore plans to see the impact lessen by the end of the year.
Copyright 2021 KCRG. All rights reserved.