“It’s a War Zone:” Hickory Dealers Speak of Soaring Used Car Prices | Local News
Used car prices across the country have gone up and Hickory has not been spared.
“It’s a war zone, especially at auction,” said Tim Thomas, general manager of Randy Marion Sav-A-Lot at Hickory.
The surge in prices is due, he said, to the shortage of microchips which is affecting the new vehicle market and creating increased demand for used vehicles.
“I could say it’s a little frustrating because there are more obstacles because right now, like I said, there isn’t a lot of used car inventory. , so trying to find the right car for the right person, now it’s a bit difficult, ”Thomas said of the situation.
The inventory crisis is such that the dealership, which previously kept around 220 cars on the lot, fell to between 110 and 120.
Thomas pointed to a Ram truck with 10,000 miles. A year ago, the vehicle would have sold somewhere in the top $ 30,000, but was now in the middle of $ 40,000.
Other dealers report a similar situation.
Jared Dietz, vice president of Viewmont Auto Sales, said the market is unlike anything the store has seen since it opened 20 years ago.
“We get a little skinny on stocks just because, you know, at some point the market is going to turn and we don’t want to be stuck with a bunch of things we’ve paid too much for,” Dietz said. “It’s great, sure, but stuff just made crazy money at auction.”