A friend just texted me from a nearby Subaru dealer: I'm at the Subaru dealer and they only have one Crosstrek and it's in the showroom which has been sold to a woman in Georgia because there are none in Georgia available there. A wait for a new Subaru is now 3-4 months.
She also said that the parts and service department is starting to get nervous about how long they have had to wait for parts for repairs and maintenance.
Yea, new units are a pain, but this will prove to be a real problem.
It will be the same across all the brands, sooner or later, but damage to dealerships as for confidence may be hard to overcome.
https://www.washingtonpost.com/us-policy/2021/10/28/used-car-prices-chip-shortage/
Most of what is there should be familiar to those who are paying attention, but I was surprised that the big car rental companies are sucking up used vehicles. Like Hertz paying $39,200 for a 2 year old minivan. Note, too, that the reported auction prices are being paid by dealers who will be charging retail buyers even more.
I would plan any discretionary vehicle purchase for 2023 or later.
The crazy car prices must be having an impact on insurance companies as few are likely to have priced coverage based on these abnormal conditions. In addition to the valuations of vehicles which may be totaled, there is the cost of rental vehicles while cars are being repaired, the extended times for vehicle rentals due to delayed repairs due to supply chain problems, and the potential months long rentals while replacement vehicles can be obtained. Look for your auto insurance to jump at the next renewal as companies look to recover these costs.
At least four shipping containers that were lost from a stricken cargo ship off the B.C. coast have come ashore on Vancouver Island, the Canadian Coast Guard confirmed Thursday.
My wife just traded in her Crosstrek for a Ascent, we paid 22,5 for it, MSRP was 24,5 they gave is 24,5 and they are now selling it for 27,9 (2018 Premium with 13K miles)
My wife just traded in her Crosstrek for a Ascent, we paid 22,5 for it, MSRP was 24,5 they gave is 24,5 and they are now selling it for 27,9 (2018 Premium with 13K miles)
Paid MSRP, 44,5 (2021 Limited) so they gave us the break on the trade in. but now all the dealers are chargning "market price" which is MSRP + how much more they think they can get..seems to be about 1 to 1,5K
*took a few weeks to come in, bought it when it was in "transit" but dealer said at the time, which was several weeks ago, that shippments in are becoming more and more scarce...heck our neighbors ordered a GMC P/U back in March and not even a VIN generated yet)
The market is insane right now & it’s likely to continue for some time. Just checked cargurus.com in my local area. Most used 2019 Crosstrek’s are selling for $5k+ from what I paid just 6 months ago. I read online today that the chip manufacturer’s want to build factories here in the US, but want the government to pay for all the construction costs & tax breaks!
Yawn...I don't worry about Subaru supply issues or any car manufacture for that matter. The market will settle down. When? Who knows. Just enjoy what you have and be grateful you have something that takes you from point A to B.
Yeah, it doesn't make sense for anyone to buy a brand new car right now when it's such a dealer's market. Unless your current car just got totaled. And if you're on a lease that's just ending you'd do well to buy it out that let the dealer sell it to some other schmuck for a huge markup.
If you have a trade it's no quite so bad as you'd get more for your used car. However, I looked into this recently and with the high sales tax we pay here it would cost $13K for us to trade up from our low mileage, pristine Limited to a '21 Limited. Makes no sense at all to spend that kind of money to replace a car that's essentially as good as new anyway.
Also had heard that insurance companies are repairing vehicles that otherwise would have been deemed a total loss, based upon the value of replacement....
Saw another transporter on the highway loaded with new Subarus. Actually I mean "loaded". He only had four onboard. I think a full load is seven or eight.
Wow, I just checked the dealer I bought my Crosstrek from in January, and he has only eight new cars, and none are Crosstreks. Clearly I bought at the correct time. When I bought, he had at least eight Crosstreks.
I just took a look at the website for Heuberger Subaru, which for many years was the largest-volume Subie dealer in the country. It wasn't long ago that they might have a couple hundred new vehicles in their inventory, but today they only have 11 ... and they don't have any Crosstreks at all.
I'm in the same boat. My 2005 Legacy is dying and I wanted another Subie with more clearance. Managed to "reserve" a Crosstrek Sport that should show up this month. I expect I'll be paying full price. Maybe I can negotiate for some additions that I want at discount.
Will be five years I have had my Subaru next month. Just did a search on Kelly Blue Book. Private Party Sale worth $29,885. That is more than I paid for it!
I dropped my iPhone in the toilet. Went to ATT and they don't have any iPhones in stock. No chips. Ordered one from Apple. My son-in-law after having had both cats stolen from his Prius has found that it is 5 week wait for replacement cats (I presume not a result of chips) so he gives up and goes to buy a new car at the Tesla dealership, no Teslas (I presume a result of no chips.) My wife's 2016 Hyundai Hybrid is starting to make a bearing noise and I called Hyundai for a recall appointment, no appointments until after thanksgiving. One has to wonder about the future of Doritos..."no chips..." I dunno what will be in the bag.
I'm opening an ice cream store and it won't have cones or ice cream can't wait for the crowds.
I dropped my iPhone in the toilet. Went to ATT and they don't have any iPhones in stock. No chips. Ordered one from Apple. My son-in-law after having had both cats stolen from his Prius has found that it is 5 week wait for replacement cats (I presume not a result of chips) so he gives up and goes to buy a new car at the Tesla dealership, no Teslas (I presume a result of no chips.) My wife's 2016 Hyundai Hybrid is starting to make a bearing noise and I called Hyundai for a recall appointment, no appointments until after thanksgiving. One has to wonder about the future of Doritos..."no chips..." I dunno what will be in the bag.
I'm opening an ice cream store and it won't have cones or ice cream can't wait for the crowds.
The underlying principle of smart money is simple; sell when demand is high and buy when it's low. Eventually, when the auto supply meets demand, the market will have dramatic depreciation corrections.