Home Stock market Empty lots, angry customers: chip crisis throws wrench into car business

Empty lots, angry customers: chip crisis throws wrench into car business

by kyngsam


People are looking for automobiles in near-record numbers, however the world’s computer-chip scarcity has left sellers with the fewest choices in many years.

The market mismatch is driving up costs, and plenty of consumers anticipating to drive new automobiles off the lot have to attend weeks or months for his or her automobiles to reach. Some showroom fashions promote for 1000’s of {dollars} over the sticker value.

“We may be within the best new-car market of our existence,” Philadelphia-area automotive vendor David Kelleher mentioned, “and we’re doing it with no automobiles.”

He not too long ago awoke at 3:30 a.m. in a chilly sweat and scrolled an iPad to test on his stock of Jeeps and Ram vans. After posting his finest months ever in March and April, Mr. Kelleher was heading into the busy summer season gross sales season with 98 automobiles on his lot as a substitute of the standard 700.

An expanded version of this article appears on WSJ.com.

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