After last year’s shuttered showrooms due to COVID-19 health protocols and restrictions, dealerships today have resumed opening their locations but are finding an increased demand for vehicles and manufacturers unable to keep up, causing a shortage of inventory.
Despite the growing demand, dealerships are currently finding themselves in the unique position of not being able to keep their lots filled with inventory. But Brustolon Buick GMC owner Cynthia Casey chooses to remain positive about the situation.
“Even with the nationwide shortage, this is a wonderful time to purchase a vehicle,” Casey told The Westerly Sun. “We are staying positive and are happy to be here to help.”
Cox Automotive reported that prices for new vehicles are jumping, and discounts are disappearing. A survey from Cox Automotive found that 63% of potential buyers plan to stay in the market until they purchase car. Michelle Krebs, executive analyst for Cox Automotive, added that everybody is rushing to purchase a vehicle, comparing it to the situation last year when many had been panic-buying toilet paper.
However, the country’s total new-vehicle inventory decreased 42% from the previous year, according to Cox Automotive.
Cox Automotive also stated that discounts fell 5% from March to April and 25% from a year ago.
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