dealerships

Car theft ring in Cook, DuPage counties used fake IDs to illegally finance cars at dealerships: authorities

CHICAGO (WLS) — Law enforcement officers have taken down a sophisticated car theft ring that has been targeting high-end car dealerships around the state for several years.

Car dealerships in DuPage and Cook Counties have been feeling the sting of an organized car theft ring that used identity theft to illegally obtain financing and rip off a number of dealers.

A total of six people have been indicted: two ringleaders and four associates who were lured into the scheme with cash and drugs. They would then use stolen or fake IDs to apply for loans to illegally obtain vehicles.

“The indictments are part of Operation Free Ride, an investigation has been ongoing for some time into a pattern of seemingly isolated automotive thefts,” said Illinois Attorney General Kwame Raoul.

These recent thefts are just the latest way thieves have preyed on car dealerships, which on multiple occasions this year have

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Chip storage is creating a new car desert. Dealerships pushing used cars instead.

As the U.S. auto market recovers from a difficult 2020, many dealers are struggling to keep their lots stocked with new cars. In July, the average new car took 35 days to sell -- nearly a full week faster than in June.  This quick turnaround is due in part to the microchip shortage and the […]

STAUNTON — Matthew Walsh said normally there would be up to 2,200 cars on the lots at the 15 Carter Myers Automotive dealerships in the state. Now, they have a total of 363.

“That makes it hard for us to provide selection for customers and typically, if you were buying a car, you’d come in and you could test drive three or four different models of say a Honda CRV. Now … we may not even have a CRV on the ground to show you,” he said.

Carter Myers Automotive (CMA) has a total of 15 dealerships — in Staunton, Charlottesville, Colonial Heights, Williamsburg and Winchester — selling a variety of cars including Honda, Volkswagen, Nissan, Dodge Jeep Ram, Subaru, Kia, Hyundai, Chevrolet and Ford.

According to Car and Driver, a semiconductor chip shortage is affecting the price of used cars and the supply chain of new cars.

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Car dealerships have turned ‘cutthroat’ amid a buying frenzy and dwindling car inventories

Car Dealership
  • The frenzied car market is pitting car salespeople against one another, Bloomberg reported.

  • New and used car prices have skyrocketed during the pandemic amid a shortage of vehicles.

  • Some dealers are even shelling out to buy leased vehicles years before the end of their term.

  • See more stories on Insider’s business page.

The pandemic has upended the market for new and used cars, sending prices skyrocketing and inventories dwindling.

A buying frenzy – coupled with soaring prices and a historically low supply of vehicles – has turned car salespeople into enemies, one dealership employee told Bloomberg.

“It’s really cutthroat,” Jared Luner, a salesman at Columbia Honda in Missouri, told the outlet. “Normally we’re all friends and coworkers, but right now, when someone pulls up, it’s a little edgy.”

Luner said he recently had a fellow salesperson sell a vehicle out from under him. Hawking cars was always a

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Computer chip shortage plaguing car dealerships across tri-state area

TURNERSVILLE, New Jersey (WPVI) — A major computer chip shortage continues to plague the automotive industry.

The shortage is impacting many dealerships across the tri-state area due to the lack of new cars to show.

“Apparently, the chip shortage has really depleted our inventory,” said Antonio Guzman, sales manager at Prestige Subaru in Turnersville, N.J.

Guzman says the dealership gets between 60 to 80 new cars a month from the manufacturer. Now, it’s down to 20-40 cars a month.

It has forced him to do something they’ve never done before.

“I’m forced to put used cars in the showroom to fill it up,” said Guzman.

Because of the chip shortage, used cars have turned out to be a very hot commodity.

Some dealers have been offering thousands to buy them back from customers so they can have something to re-sell.

“They did offer my brother-in-law $10,000 more to buy his

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