Car dealerships seeing increase in inventory after 2-year shortage
SHREVEPORT, La. (KSLA) – Dealerships across the country are now seeing a drastic increase in new inventory. This comes after a shortage in vehicles that lasted over two years.
“Pre-pandemic, we would have somewhere in the neighborhood of 400 to 450 new cars in stock. When it got at it’s worst, as far as inventory goes, we would start the month with 25 new cars in stock. Currently, we’re one of the luckier dealers around because we’re starting the month with at least 100 new cars in stock,” said Zach Caulk, with Hebert’s Town & Country.
He says there probably won’t be a car lot holding 400 cars any time soon.
“I think what manufacturers learned after the pandemic is that they didn’t have to have this large number of cars on the ground in order to sell a certain number of cars.”
Caulk says car inventory is up and consumer prices for new and pre-owned vehicles are trickling back down.
“Pre-pandemic average used car payment was 440. At the height of it, it got up to about 550, and now it’s getting closer down to 500.”
Don Keller recently purchased a car and said he feels he missed a better opportunity.
“I really feel like I should trade mine in and get something better now that they have more options. I didn’t get something I was 100% comfortable. There were only two options that I had, and now there are about 40 for me. Picking from two verses picking from 40 is a big change.”
Evelyn Hunt says she’s also skeptical of her purchase, but she’s happy to see things returning back to normal
“I hope I got the best deal back then because it was a great deal that I did get. But I honestly can’t help but think, ‘Was there something else out here that I missed?’ I do think that it will be good for the next people, the next customers and consumers,” she said.
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