TERRE HAUTE, Ind. (WTHI)- Many microchip companies shut down during the pandemic, causing a low supply in car inventory. This shortage has caused car prices to spike. Many car dealerships around the country are feeling the effects of this including companies right here in the Wabash Valley.
News 10 spoke with Premier Auto Source, Will Bryant, who says his dealership usually has around 80 cars for sale, but as of recently, they have only had around 30. The manager at the dealership says his staff is working hard to find more inventory.
"They're just really shopping the auctions. They're going out a little further. Shopping a little further options. We're sending drivers a little further to get inventory. My bosses are working hard to get inventory for everybody" says Bryant.
Staff at the dealership recommend trading in old cars to save money on new purchases. A customer at Premier Auto Source, Amy Murphy, says this made her dream car more affordable.
"We got a really good deal on the trade-in so that brought the cost down just a little bit. It paid off the truck put a little towards the jeep not terribly much but enough to put the down payment we didn't write a check for the down payment" says Murphy.
Staff told News 10 they don't know when production will begin to pick up again but hope it is sometime in the near future.
"It's affecting everybody. something needs to be done. I don't know if this is turning into the new norm but we'll just have to wait and see" says Co-owner of Premier Auto Source, Eric Albert.
If you are searching for a new and affordable car click here to be located to Premier Auto Source's website.