dries

As new car inventory dries up, here are the ones that are almost impossible to get

Blame a global computer chip shortage that has crippled car production, pent-up demand caused by coronavirus pandemic restrictions, or simply a bustling economy. No matter the cause, one thing is for sure: new cars are in short supply.

Cox Automotive found that some models are nearly nonexistent on dealer lots. A standard metric used in the automotive industry looks at the theoretical number of days it would take for dealers to run out of a specific model entirely, assuming supply was cut off.

See: Brace yourself for a summer of shortages — from lifeguards and fireworks to lobster and beef burgers

Toyota
TM,
+0.72%
dealers have the weakest inventories: just 18 days’ supply on average, meaning lots would be essentially empty in less than three weeks if the automaker stopped shipping new cars from its factories.

The hottest Toyota is, ironically, one of the oldest designs on the market.

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Buying a car will be even more of a nightmare this summer as inventory dries up. Here’s what you need to know if you’re shopping around.

used car dealership
used car dealership

Alan Diaz/AP Images

  • The COVID-19 pandemic didn’t tank the used car market like many thought it would.

  • Currently, used car demand is strong because new car inventory is down.

  • It’s still possible to get a good deal; you just have to act fast and be flexible and patient.

  • Visit Business Insider’s homepage for more stories.

Just because there’s the ongoing COVID-19 pandemic to worry about, it doesn’t also mean you have to hit pause on all aspects of your life. Perhaps you’re thinking about buying a car this summer. 

Business Insider spoke with Tom McParland, who runs a service called Automatch Consulting that helps people buy cars, about some advice. 

As he writes for the automotive site, Jalopnik, McParland warned that this year’s Fourth of July car deals might not be as great as people expect because of low inventory, cheap financing being walked back

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