inventory

Car shopping in a tight market: low inventory, microchip crunch, flood-damaged lemons explained

COLUMBUS (WCMH) — Car shoppers are frustrated by new models held up in cargo ship delays off the California coast while second-hand scammers in the used-car market create nightmares for bargain hunters.

But the market is set to right itself soon, says Rick Ricart, president of Ricart Automotive, who gave tips to NBC4 on what to look for in a used or new car — and avoid scammers.

Low inventory and delays for new cars

“Luckily, I think we’re finally on the uphill climb back to supplies normalizing at some point in the future” with vehicles are stuck off the coast, Ricart said. “We are having a very difficult time getting some of our imported vehicles to the lot. We know that there were a lot of vehicles that were built in Korea, Japan, and the like that are on container

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Auto sales nosedive in Q3 as inventory dries, supply shortages worsen

U.S. car sales have dipped to levels not seen since the Great Recession as ongoing supply shortages hamper automotive production worldwide, strangling inventories while dealers attempt to salvage whatever revenue they can by increasing margins on the few vehicles they’re able to stock. 

Even a careful perusal of Q3 and September sales figures (Automotive News subscription required) reveals virtually no good news; even Toyota’s slight improvement is tenuous at best. While many raw materials and basic components have been in short supply since the pandemic crippled worldwide logistics, the primary culprit in the ongoing automotive production slowdown is computer chips. While some have been quick to point fingers at electric vehicles and other high-tech offerings, the shortage hasn’t really discriminated.

As of the end of September, the industry is still up more than 13% compared to a year ago, but there’s a catch: Sales through Q3 of 2020

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Chip shortage means vehicle inventory likely won’t recover until 2023

A world-wide shortage of microchips has forced automakers to slow or stop production of many cars. That has pushed car prices to record highs in both the new and used markets. Analysts have consistently predicted that the problem would ease in 2022. But now, a major chip maker is warning that it could last into 2023.

Backlog will take more than a year to clear

Japan’s Rohm Co.
ROHCY,
+3.41%
is one of the largest suppliers of microchips to the automotive industry. Its largest clients include Toyota
TM,
+1.72%,
Ford
F,
-0.92%,
and Honda
HMC,
+1.18%.

“All of our production facilities have been running at their full capacity since September last year, but orders from customers are overwhelming,” Rohm CEO Isao Matsumoto told reporters in August. “I don’t think we can fulfill all the backlog of orders next year.”

Why this happened

The average new car contains

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Golden Woman Beauty Trend Mannequin Lady With Golden Skin, Make-up, Hair And Jewelry On Gold Background Inventory Photo

By adhering to conventional beauty requirements, the fashion trade had been leaving money on the table. Designers similar to Christian Siriano made a public point of catering to bigger customers and, in doing so, have been hailed as good and as capitalist heroes. Now it’s pretty frequent for even essentially the most rarefied fashion manufacturers to incorporate giant fashions of their runway reveals. Her tightly coiled hair was sheared near her scalp.

Charm is deceptive and wonder disappears, but a girl who honors the LORD must be praised. Grace is deceitful, and sweetness is vain; But a girl that feareth Jehovah, she shall be praised. Charm is deceptive Female Power, and wonder doesn’t last; however a woman who fears the LORD might be tremendously praised.

It is used for sweeping shade across the lids and highlighting the browbone. Also, you could get a smaller model of this kind for … Read More