New and used car market races to meet demand
SAN DIEGO (KGTV) – If you’re in the market to buy a car, experts say you may have to wait a little longer if you have a specific make and model at heart.
As new and used dealers, try to overcome the inventory backlog due to a shortage of auto parts.
“Anyone who deals with cars, whether they are new, used or rental car agencies, are all basically in one place and scrambling to get vehicles because of this backlog of applications and demand. the supply shortage, ”said Karl Brauer, executive analyst for iseecars.com. “A lot of these auto-based companies are doing what they can to get their hands on vehicles at this point. “
And when you translate the situation into dollars in San Diego, the average cost of a used car has increased by about $ 7,000 over the past year, which is just over $ 25,000 for a car. second hand.
Brauer adds that there is only one real way to solve this problem.
“If the production of new cars can return to a new level that meets the demand for new cars, and people who have current cars would trade them in for new cars, and the supply of used cars would increase. It goes back to the microchip shortage, ”he says.
Until then, if you really need to buy a new car, Brauer says it’s best to keep your options open and steer clear of high-demand cars, like convertibles and trucks.