There is low inventory of both new & used cars and this is causing prices to rise all across the board. #YTMoneyShorts #Shorts<br /><br />In some states, car dealers have inventory levels that are 25% lower than their normal inventory rates. And, guess what? <br /><br />Car dealers and manufactures actually like the fact that you have to wait to get your new car.<br /><br />Because of the events over the past year, production of new cars actually went down; and now as consumers are coming back to buy--they're finding fewer cars.<br /><br />Dealers are saving money because fewer cars on their lots mean that the dealers have to pay less in their bridge loans.<br /><br />Instead of offering the steep discounts to clear out older inventory, many automakers are having a hard time resupplying dealer lots with enough inventory.<br /><br />Edmunds estimates the average discount on a new vehicle in October was $2,046, about 23% lower than last year.<br /><br />So, how do you this business news you can use: Understand that lower inventories on car lots mean that you're going to pay more for used as well as new cars.<br /><br />second, dealerships are finding out that it's more profitable to keep less cars on their lots and, inturn, they're making more money.<br /><br />https://fred.stlouisfed.org/series/CUSR0000SETA02<br />https://www.cnbc.com/2020/11/23/car-buyers-seeking-black-friday-deals-on-a-truck-likely-out-of-luck.html
