{"id":29,"date":"2022-06-22T20:32:05","date_gmt":"2022-06-22T20:32:05","guid":{"rendered":"http:\/\/localhost\/websites\/0543_ex_ride\/?p=29"},"modified":"2022-08-10T01:41:13","modified_gmt":"2022-08-10T01:41:13","slug":"chip-shortage-supply-chain","status":"publish","type":"post","link":"https:\/\/staging.hypekraft.com\/0543\/chip-shortage-supply-chain\/","title":{"rendered":"Chip shortage, supply chain issues give used car prices rare boost"},"content":{"rendered":"\n

Original Article<\/a> By Paige Ellis

Joe Tarin of Corsa Auto Repair and Sales surveys his downtown Toronto lot with a stoic smile. 

To pedestrians shuffling by, the used car dealership likely appears plenty full, with coupes and sedans parked bumper to bumper. But in fact, Tarin says his inventory is down as much as 35 per cent compared to pre-pandemic levels.<\/p>\n\n\n\n

\u201cAfter the pandemic, it\u2019s extremely hard [to find used vehicles] and the prices have gone up extremely,\u201d he noted. \u201cSo when we\u2019re retailing it, the price is obviously going to be a bit higher.\u201d<\/p>\n\n\n\n

With inflation in Canada rising at the fastest pace in 18 years in October, virtually everything consumers buy has become more expensive. But amid a crippling microchip shortage and corresponding reduction in new car production, price hikes in the used vehicle market have been very severe. 
 
According to AutoTrader.ca, the country\u2019s largest online marketplace for pre-owned cars, the average list price of a used vehicle surged 27 per cent year-over-year in November to $31,875. Previously, the mean price of a used car had never surpassed $30,000. Inventory, meantime, dropped 17 per cent. <\/p>\n\n\n\n

\u201cOne of the things that\u2019s always been true about cars is that you buy a car and it\u2019s worth less as soon as it leaves the lot,\u201d said Flavio Volpe, president of the Automotive Parts Manufacturers Association. \u201cThis past year, the average value of used cars has gone up. It\u2019s never happened before. It defies all economic modelling.\u201d<\/p>\n\n\n\n

Volpe said new car production was the \u201cfirst domino\u201d to fall during the pandemic. Without the semiconductors necessary to complete their vehicles, automakers were forced to slash output and park their unfinished inventory in sprawling lots. The issue then spread to auto parts suppliers, rental service companies and used car dealers, which rely on a steady flow of new cars and trucks. <\/p>\n\n\n\n

\u201cDealership groups usually have about 60, 70 days of inventory on hand,\u201d Volpe noted. \u201cThey\u2019re down to a week or two weeks in some cases. It\u2019s really unprecedented.\u201d<\/p>\n\n\n\n

Real Full Article Here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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But in fact, Tarin says his inventory is down as much as 35… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":528,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"class_list":["post-29","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-resources"],"acf":[],"yoast_head":"\nChip shortage, supply chain issues give used car prices rare boost - ex ride<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/staging.hypekraft.com\/0543\/chip-shortage-supply-chain\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chip shortage, supply chain issues give used car prices rare boost - ex ride\" \/>\n<meta property=\"og:description\" content=\"Original Article By Paige Ellis Joe Tarin of Corsa Auto Repair and Sales surveys his downtown Toronto lot with a stoic smile.  To pedestrians shuffling by, the used car dealership likely appears plenty full, with coupes and sedans parked bumper to bumper. 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