Cost of cars remains high, affecting auto industry - KTTC

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ROCHESTER, Minn. (KTTC) – Whether it’s new, used, or a lease, cars are costing more than ever.

“We’ve never seen this before, we’ve never seen the demand this high, and we’ve never seen these kinds of shortages with vehicles,” said Troy Buhr, owner of Southpoint Motors.

Instead of moving on from old cars, auto repair shops around town say people are bringing their vehicles into shops to get more use out of them.

“I’m seeing more people do major repairs that they normally may trade their vehicle in or get rid of it, when they see that, but they know that the market is very poor for vehicles,” said Complete Auto Repair Owner Travis Batdorf. “Some people are coming in and are just saying, you know, I had planned on buying a new vehicle this winter but there’s nothing out there.”

“People understanding that it’s in their best interests to get the longevity out of the car that they’re driving now, so they stick more money into that preventative maintenance to make sure that they’re going to be able to drive that car for a little while,” said Babcock Auto Care Success Manager Travis Andrist.

“We’ve had to work harder, we spend more time on it, we’ve had to broaden our searches,” said Buhr.

The shortage of cars Is leading to shortages elsewhere in the auto industry.

“A lot of original equipment parts are back-ordered. Some are a week, some are three months right now,” said Batdorf.

“Parts availability is starting to get a little bit harder, but we’ve been able to get cars in and turned around in the same day,” said Andrist.

Everyone we spoke with said these shortages end when the microchip shortage does... but aren’t sure exactly when that will happen.

“This will be with us for most of 2022, the way things look, but it’s probably anybody’s guess,” said Buhr.

“Right now, there are hundreds of thousands of cars that are sitting around, waiting for computer chips. So, when they all get them and those cars hit the market, there’s going to be that reverse flood of new cars on the market,” said Andrist.

Copyright 2022 KTTC. All rights reserved.

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Cost of cars remains high, affecting auto industry - KTTC
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