POWAY Calif. (KGTV) – If you are trying to buy a new or used car, you know the pickings are somewhat slim. The car industry is still trying to keep up with demand after a chip shortage and supply chain issues crippled production.
At Pedder Hyundai of Poway, there are just four new cars on the entire lot and 70 used cars. The used market is still hot, according to industry insiders.
“I’ve heard some people say the used market is starting to cool, but I just haven’t seen that at all,” General Manager Mike Stevens said.
Stevens said the biggest recent obstacle has been new cars sitting on the docks with shipment delays.
At Toyota Escondido, General Sales Manager Damian Campos pointed to a massive lot that sits empty.
“We wait on shipments; cars are not being made fast enough,” Campos said.
The forecast is hard to predict, but experts say it should normalize in a little over a year. Until then, the used car market remains strong with a 34% uptick in price. Some buyers tell ABC10News they waited almost a year for custom car orders.
