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Why are car dealers lots so empty?
A shortage on auto chips or silicone microchips necessary for the production of new automobiles has left many dealer lots empty nationwide. Conversely, that auto chip shortage has led to a boom for used car businesses.
Why do car dealers have no inventory?
Auto dealerships across the country for the past few months have had to adjust to a scarcity of inventory as result of a global shortage of microprocessors, also known as microchips or chips.
Why are there no trucks at dealerships?
A global shortage of computer chips has forced automakers to slash production. The result has been far fewer vehicles on dealer lots, just as the waning pandemic has fueled a pent-up consumer demand for cars, trucks and SUVs.
Why are trucks so hard to get right now?
Who makes the chips for Ford?
GlobalFoundries
The carmaker announced a partnership yesterday with the semiconductor manufacturer GlobalFoundries to develop its own chips. Initially these will be designed for Ford vehicles, but the companies said a larger goal is to expand U.S. chip production.
Why are new vehicles in short supply?
The average new car contains more than 100 of the tiny processors, controlling everything from engine timing to climate settings. They’re in short supply thanks to a combination of factors. Chip suppliers shut down their own factories early in the COVID-19 pandemic to protect the health of their workers.
Should I buy a used car from a name-brand dealership?
Because repairs are expensive at name-brand new-car dealerships, however, used car dealers that do this are unlikely to sell their cars at rock bottom prices. Warranties You’re a lot better off working with a dealership that offers its own warranty on the used cars it sells – and the longer the warranty the better.
Is your used-car dealer in over their head?
Here are eight signs that your used-car dealer is in over their head. Quality of Inventory Everybody wants a good and cheap used car.
Why are used cars more expensive at dealerships?
Since dealerships have to scramble to keep enough inventory on their lot to attract shoppers, they are willing to pay more to get their hand on cars, including used ones. This works out in your favor, allowing you to secure a higher price when you sell your vehicle.
Why are used car sales so high right now?
As a result, anyone who delayed buying a car is hopping into the market, causing a big shift in demand. Whenever demand rises, dealerships need to increase their inventory levels accordingly. Without a decent inventory, they miss out on sales, so they are willing to pay more to boost the size of their used car lot.