Labor Day car deals look different this year due to low stock in inventory
CAPE GIRARDEAU, Mo. (KFVS) - Labor Day is here and if you plan to shop for a new car to take advantage of deals, you should expect some changes.
You may have noticed less advertising from some dealerships and maybe even less sales.
That’s because there aren’t as many cars on the lot due to the computer chip shortage and temporary auto factory shutdowns from 2020.
One local dealership manager said this time last year his lot had at least 150 new cars but now it has less than 50.
”We’re noticing about a 40 percent correction in our inventory, our allocations that we have previously ordered cars are not going to show so we’re looking at about 50 to 60 percent of what we expected to come in but there are still cars available if people have a little patience,” said Chris Brown, Cape Honda Manager.
Currently, the wait time for a vehicle is about 30 to 45 days, according to Chris Brown.
He says in the last 30 days, his inventory changed significantly.
Automakers report U.S. dealers had fewer than 1 million new vehicles on their lots in August which is 72 percent lower than in August 2019.
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