Buying a New Car? David Kelleher Tells Wall Street Journal to Expect to Wait, and Pay More
The depleted lot inventory at David Dodge Chrysler Jeep RAM in Glen Mills shows there’s a problem in the automotive industry, writes Mike Colias, Ben Foldy, and Nora Naughton for the Wall Street Journal.
Car makers have cut the production of 1.2 million vehicles in North America because there aren’t enough computer chips.
And the inventory shortfall comes at a time of high demand.
While Americans shop for cars in near-record numbers, dealers have the fewest to offer in decades.
That’s driving up prices. Showroom models sell thousands of dollars over sticker price. New car orders can now take weeks or months to arrive.
“We may just be in the greatest new-car market of our existence,” David Dodge dealer David Kelleher said, “and we’re doing it with no cars.”
He posted his best month ever in March and April. Now he’s heading into a busy summer with 98 vehicles instead of his usual 700.
“That really shook me up in a bad way,” he said. “This is going to be longer and more difficult than most people think.”
Manufacturers say they will make up for lost inventory once the computer chip shortage is over.
Read more at Wall Street Journal about how computer chip shortages are causing problems for the auto industry.
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