Posted on 07/11/2021 5:18:59 PM PDT by E. Pluribus Unum
A microchip shortage is translating to higher car prices across America.
CBS reported that the average price of a new car has topped $40,000 and that used car prices have risen nearly 30 percent due to the shortage.
Lansing, Michigan, resident Heather Lyons knows that firsthand.
In looking to buy a replacement for a totaled car, she said she will end up paying more to get less, according to WILX-TV.
“It really is bad. My car payment last time for a decent vehicle was something I could afford and this time it’s going to be a worse vehicle for more than I was paying before,” Lyons said.
She said she is paying $4,000 more than she did for a similar car a year ago.
Dealers admit prices are high.
(Excerpt) Read more at westernjournal.com ...
You do realize that 1-2 year old used cars are now going for more than they were purchased for, correct?
That right there should tell you how inflation has impacted the cost of new and 1-2 year old vehicles right there.
Now, please educate yourself as to what's going in the world before you go off uninformed and half-cocked again.
I know
It will also get better again
I have had it happen to me with other products
I would still stick to selling the good models of used cars you can get your hands on and get parts for from various sources. because they will command the best prices. Some more than new ones as many new cars being made are crappy and breaking immediately.
I know what is going on.
Perhaps you should stop being an arrogant, condescending knowitall.
Perhaps try that first before being playing keyboard warrior.
“My 750 hp mustang gets 28 mpg at 65 on the highway.
Five driving modes. Rain/snow nice on wet days.
Anti-lock brakes
Traction control
Stability control
Navigation”
Well my 100hp truck gets about 8 mpg going 48 mph and has 4 shift levers, no power steering and drum brakes all around.
bttt
What is going to fix this chip shortage? Will it happen in our lifetime?
You wrote, “I need to get around to tires and wheels for that 81 CB 750, 79 K5.”
I should never have sold my 1972 CL 175. Not a good choice for a 75 mph speed limit highway but great for in town. I think it had 1800 miles on it when I waved goodbye to it and went off to college land.
Maybe you need that, but a lot of us don’t.
One of the worst policies instituted by the Obama administration was ‘Cash for Clunkers’.
I live in a largely Hispanic immigrant community. A lot of these immigrants are brilliant about car mechanics, and can bring back old cars to make them serviceable for their needs.
I am a sincere capitalist but believe national security and a not negated by it. From computer chips to penicillin to steel it is not in our neutron all interest to have NO American manufacturing for necessary products.
Food too.
I’d have a policy where we make it worthwhile for every necessary industry - and there are a lot of them - to have a base of operations actually producing here if possible. That would be medicines and computer chips and surgical equipment and a lot of food.
Some things we can’t require. Like rare earth minerals we don’t have or tropical fruits.
Some things are not necessary. Like decorative foliage and embroidery floss and guitars.
Otherwise I’d require by law a company over a certain size to have at least some manufacturing here to do business here.
Cost gets high enough then the profits get there then there will be enough.
Let the unseen hand work.
Perhaps you should stop ASSUMING people are being condescending knowitall's. Sheesh. Grow up.
Not everything is about you.
Building chip foundries outside the control of APAC countries and within the reach of China threatening invasion.
That's what.
I've read a number of articles in the last few months that Texas will be the home of somewhere between 3-5 major chip boundaries in the next 2-3 years, which is about the time it takes to build a world-class chip manufacturing facility.
As I see it, the problem is the US Government has to make a concerted effort to get the job done here in the US and eliminate China from controlling the worlds mid to high end chip supply chain.
In short, there's gonna be some short term pain incurred by us US Consumers to get past this.
Yes, it will get better again.
That isn’t the issue.
The issue is, people need these cars NOW. Not 2 years from now.
Why do so many folks go to dealerships? As many on here have said, correctly, people buy a payment. They buy what they can afford. Dealerships offer help in that area they can’t get otherwise.
Next…..We’ll maybe people should be better with their money/save/etc etc. Not everyone is perfect. Some folks need help. Doesn’t mean anything is wrong with them.
Is the steering wheel on the wrong side? ;-)
Thanks for the answer. Good for Texas......don’t expect much help during the biden administration.
Interesting article but from Arril
I have a 2019 Dodge Grand Caravan GT with 90,000 Uber driven miles on it, new tires and in perfect condition. Has everything but a sunroof. Remote start, slider doors, auto lift back, the back up camera and sensors, 2.8L engine and select-drive auto tranny, drives like a full size sedan not a minivan. I would entertain offers. Great vehicle. I also have a 2008 Huydai Entourage with only ninety thousand on it that I intend to keep until it is no longer driveable. It is in great shape except for the paint fading and headlights in need of polishing.
Maybe you’ll make money on them somehow. Right before the stupid virus I had a beautiful 2017 F-150 XLT FX4 HD PAYLOAD EXT CAB with 40k miles shipped in from OK for $25.9k. Really sharp. I thought it was a great deal. The sticker on it was $48.5k. The 2020s were just coming out. I let it go because Carmax didn’t have the title ready to go and they kept we waiting for 2 months. Figured I could get another one or a better deal. Wrong. Fast forward to today, that same truck but in a 2016 with less equipment and twice the mileage they are asking $32.9k. $7k more. My $25.9k will get me a 2009 F-150 with 100k miles at Carmax and that’s the cheapest F-150 on the entire site. $25.9 used to be mid range for a used F-150. I’ll get another truck but there are similar increases in pricing elsewhere.
I was listening to a radio show about cars. Car Pro radio. The host believes that the chip shortage will sort itself out by the first of next year. I need to replace my 2010 Expedition because it has 280K miles and is starting to nickel and dime me to death. I need a vehicle that will pull a 7,000 lb travel trailer and I can’t touch a used truck for under 50K. So I will wait.
I have family in the same situation.
:(
Nice. I have a 2004 Xcab with 129,000 just sitting in the garage. It is a long bed auto with the 5.4.
My first 150 was a 1988 Lariat Xcab with long bed. It had the 302 with 5 speed on the floor.
Bought it in Vegas. Fine truck until I killed it.
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