A lack of microchips is leading to a shortage of new cars

Local News

PEORIA, Ill. (WMBD) — Car dealerships around the country are having a hard time getting brand new vehicles. That’s because there’s a shortage of the microchips needed to manufacture them.

“When everyone was sitting at home, they started redoing their computers, and TVs, things that take a massive amount of chips. Well the manufactures didn’t know how many cars they were gonna need in the future, all of a sudden, when we went back to full production, there was a shortage of chips,” said Anthony Ficociello, managing partner at Green Chevrolet.

He said his supply of new cars has dropped, and what he does have, is selling fast.

“Silverado, just pick up trucks, right now I have 3. Normally we carry 8 to 10 to 12 Tahoe’s, right now I have zero. I have 1 suburban, I have no equinox,” said Ficociello.

And because of this shortage, he said now is a great time if you’re looking to trade in your car.

“We’re trading people out of cars and either lowering their payments, or we’re actually paying more now for a 30,000 mile 2018, than what a person paid for that 2018 when it was brand new,” said Ficociello.

He said new car inventory could pick up by August, should manufacturers be able to pick up microchip production this summer.

Copyright 2021 Nexstar Media Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Latest Local News

More Local News