microchip

Low car 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.” Vehicles are stuck off the coast, says Ricart. “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 ships,

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Used cars prices up 38% in Springfield from last year, also increasing nationwide amid microchip shortage

SPRINGFIELD, Mo. (KY3) – If you’re looking for a used car, around the Springfield-area or elsewhere, you might have to save up a little more than usual for one.

A new study from iSeeCars.com, automotive research firm, analyzed trends from more than 1.9 million used car sales nationwide in the month of August. CLICK HERE for the study

It found that used car prices in August increased on average by 26.2%, or $6,454, over the past 12 months. The mark is slightly down from a 31.6 percent increase reported in July.

According to a iSeeCars.com spokesperson, prices in the Springfield, Missouri, area increased on average by 37.9%, or $9,327, over the past year.

The study reported the following findings:

  • The vehicles with the highest price increases are a mix of economy cars and impractical cars.
  • Cars with the smallest price bumps are mainly luxury SUVs.
  • Used car prices
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