Demand for cars continues to rise while supply remains critically low
and last updated 2021-05-14 18:56:10-04
KILLEEN, TX â The demand and cost of new and used cars is going up but supply just isnât there.
The supply chain shortage for new cars is also making used cars a little more expensive.
During the pandemic companies that make computer chips for new cars slowed or stopped production causing a supply chain issue now that is affecting even the used car industry.
âDemand for vehicles going up and limited production of these chips for cars, makes it difficult for them to have lots of cars on the lots for people to choose from,â said Robert Tennant, Assistant Professor of Finance and Economics at Texas A&M University-Central Texas.