Used car prices up, new cars hard to find

The general manager of McKinney Automotive on Calhoun Memorial Highway in Easley told WYFF4 that his inventory of new cars is low. The brands they sell include Ram, Chrysler, Dodge, Jeep and Mazda. “Normally we would have 500 new Chrysler, Dodge, Jeep, Ram’s on the ground. We started this month with 54,” said general manager Daniel Black. With fewer new cars coming in, he said the demand for used cars skyrocketed. “Everything is selling. Right now, we’ll have someone come in and make us a ridiculous offer at 11:00 o’clock. And by 2:00 o’clock the car is already sold to someone else,” Black said. CNBC reports that used car prices are up nearly 30% from a year ago. Many automotive plants shut down or slowed production during the pandemic, and Black says some are not caught up yet. Plus, there is an ongoing shortage of semiconductor chips across the globe … Read More