Supply chain issues plague the auto industry
BETHESDA, Md. (NBC) – In another issue related to the global supply chain crisis, massive shortages of auto parts and supplies are wreaking havoc across the auto industry, from dealerships to your local mechanic.
This is where the tightening of the supply chain that we have been talking about for months, is where you can really start to feel it. If you are trying to get parts for your cars, there aren’t enough oil filters. There are not enough wipers, brake parts, engine parts.
It’s a $ 300 billion business, but right now they’re struggling to keep all the supplies in the chain.
The typical used car on the road right now is 12 years old. Problem is, there just aren’t enough parts from overseas suppliers right now and you’ve seen all those videos of ships on the ocean stranded and not entering US ports. .
What does this mean to you? If you need to get critical parts, they may not be there. You may have to wait weeks and in some cases even months.
It also means that if you decide you just want to ditch your car and buy another car, used car prices are currently up 35% due to the increased demand for used cars because there are not enough new cars.
There is a global computer chip shortage and this computer chip shortage is affecting new cars. So there aren’t a lot of new cars on the lots. What cars there are, they are more expensive. There are not enough used cars. They charge more for those.
And if you need to get your car repaired, you may have to wait for parts.