Chip shortages for new vehicles continue to strain new & used car market inventory

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MONROE, LA (KTVE/KARD) “There is a shortage, but it’s not as bad as you think” saysSteve Taylor, a Business Partner at Cartown Monroe.

Used car dealers like Cartown in Monroe have been experiencing woes in their supplies due to a shortage of chips put into new vehicles.

“It’s created a tremendous backlog for these new vehicles. You by one of your new car stores and you don’t see any cars” Taylor said.

They get their vehicles through new car trade ins and lease turn ins, while some are bought off company. This makes it harder for used car places to keep their usual inventory on the lot.

“It causes us to have to work 3 times as hard. we have one car buyer who buys our cars. He can’t get the job done now. so there’s three of us, back to buying cars. And we see we work all week long, and still we’re a little short. We still have good inventory, but we’re a little short from where we are. We’re not going to pay the outrageous price, we’re going to work a little harder, and just keep working longer and harder to get the cars in good shape” Taylor says.

It wasn’t like this originally though; during COVID, they were flooded with vehicles. But the delayed affects of the lack of production of the chips from the pandemic are now being felt. Taylor wants new car buyers to know they shouldn’t worry about prices or inventory moving forward.

“Cars a month or two ago were really high, they’re starting to ease down some. It’s just going to take a while to work through it. They’re got a lot of cars built, they’re waiting on computer chips. So, as soon as they come in, you’ll see more and more cars coming into play” Taylor says.

Taylor also says that those looking for a new or used vehicle should continue to shop and stay patient with the auto market as it continues to rebound.

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