Here at Need To Know Motors we try take things with a pinch of salt. But is what’s happening now in the retail automotive sector the perfect storm? The exact circumstances that are forcing car prices up and up and up?
We hear over and over again that prices have risen and that they can’t rise any further. Then they rise again.
Then this dealership says they’ve never seen anything like it. And that dealership can’t get hold of enough cars to satisfy demand.
But now we have these factors all creating a car sales vortex: Brexit, a lack of deliveries, a dearth of microchips pushing down manufacturing figures, pent-up demand due to Covid…the list goes on.
So now we’re reading about stock shortages, dealers paying way over the odds at auctions just to get something, anything on their forecourt. And customers, apparently, will buy just about anything on offer.
Cap HPI are being reported as saying some used cars are selling for more than what they cost new.
We are no longer taking things with a pinch of salt. We’re now asking where will all this end?
How is it for you? Let us know what’s happening out there and how you’re coping. Tell firstname.lastname@example.org