Car Market Continues to Struggle; Local Lots Say Hope is on the Way

Car lots across the country are empty and car prices are rising because of it, and we're seeing those struggles hit our tri-state car lots as well.

Posted: Jul 21, 2021 4:06 PM
Updated: Jul 21, 2021 9:06 PM

Car lots across the country are empty and car prices are rising because of it, and we're seeing those struggles hit our tri-state car lots as well.

“I’ve been in the business 29 years this month, and I’ve never dealt with anything like this before," said Duke Brubraker, president of Champion Ford Lincoln Mazda Owensboro.

The current car market sits in a state never seen before.

“What we’re used to here at champion is having 150-160 new vehicles on the ground, and as of this morning, we had 21, and a new F-150 just came in, so we have 22," said Brubaker.

Professionals in the car market say the lack of new cars is because manufacturers cancelled chip orders during the pandemic while car dealerships continued selling cars, and now the manufacturers don’t have new cars to replace the old cars the dealerships have been selling.

This lack of product is leading to a challenging market for potential new or used car buyers.

“The car buying is experience was definitely very difficult," said Blake Midkiff of Owensboro. "You know, I use Kelley blue book and CarGuru and stuff like that, and a lot of the vehicles on the lot were typically a lot higher priced by a couple thousand dollars.”

But Brubaker told 44News his empty lot look won’t be the new normal as there's hope in sight for a return back to the old.

“We’re asking our manufacturers when we’ll get back to normal," said Brubaker. "We’re hearing maybe by the fourth quarter we’ll get back to normal.”

Brubaker says slowly the market will get more and more normal, and sometime between October through December is when we’ll see a full recovery.

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