New car sales down 10% in CO because of supply constraints – Denver, Colorado

Date:

Denver, Colorado 2022-05-14 15:35:16 –

Denver — It takes a lot of patience to get a new car these days.

Kevin Shaughnessy, Vice President and Partner of Operations at Phil Long Dealerships, said:

Supply and labor constraints continue to hurt new car inventories across the state.

According to the Colorado Automobile Dealers Association, new car sales fell 10% across the state and 15% nationwide in the first quarter.

“This is not an on-demand issue. Demand for cars is higher than ever, but there are supply issues,” said CEO Tim Jackson.

Shawnessy’s Ford store in Denver isn’t as bad as the state-wide numbers, but his new car inventory is limited.

“There are more than 100 used cars in this place. There are about twice as many used cars,” he said.

And that’s more than what some other dealers have, and in some reports they have from zero to just a few new cars in lots.

Due to this demand, dealers are pre-ordering vehicles for their customers, and waiting times can be weeks or months.

“It was part of the business [before the pandemic].. It may be 10% or 15% of the business. Today, about 70-80% of businesses are people who custom-order what they want because they have few choices, “Shaughnessy said.

When things improve depends on who you ask. Shaughnessy says he expects it to happen later next year. Jackson has a more dire outlook.

“I don’t think it will be fixed in 2022, and it may not be completely fixed in 2023,” he said. “It may be 2024 before returning to the more normalized market of the automotive sector.”

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New car sales down 10% in CO because of supply constraints Source link New car sales down 10% in CO because of supply constraints

The post New car sales down 10% in CO because of supply constraints – Denver, Colorado appeared first on Eminetra.

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