Used-car market booms as demand increases

Local

(KLFY) — There is a demand for used cars as the demand for those looking to purchase a newer vehicle outpaces the supply coming into dealerships.

The used car market is booming.

General manager at Hub City Ford, Todd Citron, says,”The market has blown up. There are no rental cars, none at auction.”

It has made for a good time for sellers.

Citron continues, “I would say people who are trading in vehicles, we are seeing people receiving several thousands more than normal.”

However, maybe not so much for buyers.

“We are still receiving vehicles available for the public. They are just coming in then immediately going out. Many are pre-sold,” explains Citron.

He says it’s still a good time to buy, but you better act now.

“They are putting their names on lists for vehicles. When they come in, there is a deal,” Citron adds.

He says the demand is outrunning the supply.

The hold up is a global chip shortage, slowing down the ability to manufacture new vehicles.

“All we are missing are computer chips that is needed to complete the vehicle. This summer they should be able to ship more to us,” says Citron.

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