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INDIANA IN-DEPTH: Chip shortage puts news, used vehicles in high demand | Across Indiana

Currently in the market for a new or used car? If so, be prepared for some sticker shock, at least for the foreseeable future.

According to the analysts at automotive resource company Edmunds, new car inventories have been strained for months due primarily to a combination of global semiconductor chip shortages and supply chain disruptions connected to the COVID-19 pandemic.

After digging into the potential impacts of those factors, the company recently reported that new vehicle inventory at dealerships nationwide was down by 48% this spring compared to a year ago, with inventories continuing to fall in the summer. And while the company does predict that new car inventories will begin to steadily rebuild beginning in September, the anticipation is that inventories will remain well below their pre-pandemic levels through 2022.

“New vehicles — particularly new trucks and SUVs — are basically the 2021 equivalent of toilet paper and

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High prices, few discounts and low inventory await car shoppers

Daniel Acker | Bloomberg | Getty Images

Car shoppers hoping to cash in on Memorial Day weekend sales events may want to rein in their expectations.

On top of reduced inventory due to a shortage of microchips — key parts needed for today’s autos to operate — and unrelenting consumer demand pushing prices higher, there are fewer incentives being offered by manufacturers and dealers.

The average incentive is $2,957, down from $4,825 in May 2020 and $3,878 in May 2019, according to a new forecast from J.D. Power and LMC Automotive.

“People will be in for a bit of a surprise,” said Ivan Drury, senior manager of insights at Edmunds.com. “There will be little to no negotiation on price.

“We’re seeing more people pay sticker price or above.”

At the start of the pandemic more than a year ago, when dealerships and manufacturing plants were shut down, chipmakers pivoted to

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High Prices, Limited Inventory Expected This Spring

High demand and a manufacturing shortage of semiconductors — microchip technology used for power steering, brakes and other important vehicle operations — have caused new car inventory at dealerships to dwindle, CNBC reports. Buyers turning to used-car lots to find a more affordable option haven’t had much luck, either.



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20 Items You Will Regret Buying This Summer, Adult, Business, Business Finance and Industry, Buying, Car, Car Interior, Car Ownership, Car Salesperson, Charming, Consumerism, Couple – Relationship, Customer, Dashboard, Explaining, Finance and Economy, Gesturing, Global Business, Holiday – Event, Land Vehicle, Married, Mode of Transport, New, Passenger, Passenger Cabin, Persuasion, Professional Occupation, Retail, Sales Clerk, Sales Occupation, Saleswoman, Shopping, Skill, Steering Wheel, Trading, Transportation, Uncertainty, Vehicle Interior, Wealth, car dealership, family, finance, heterosexual couple, horizontal, men, photography, side view, women

See: 25 Ways the Coronavirus Has Upended the Auto Industry Across the Globe

Find: 25 Tips and

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Buy the Car You Loved in High School (Without Losing Your Shirt)

A few decades late, you’ve finally got the cash to buy the car you coveted in high school. You can picture yourself behind the wheel, finally looking really cool. But do you have any idea what you’re getting yourself into?



a man sitting in a car: Here’s how the experts say to make your classic dream car a reality.


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Here’s how the experts say to make your classic dream car a reality.

“I tell people, ‘Cool your heels, you’ve waited this long, find the best one you can,” says John DiPietro, editor for classic car dealer Carroll Street Auto in Manchester, New Hampshire, and former automotive editor at Edmunds.com.

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Nothing about buying your dream car will be easier than buying a new car. For example, most banks usually don’t finance expensive 20-year-old collector cars. You’ll need cash or a really low-interest personal loan. And without special classic car insurance, it’s valued as just another old beater if it gets totaled.

And keep

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