DALLAS (AP) — Car shoppers are heading for a new round of sticker shock if the strike by the United Auto Workers doesn’t end soon, particularly for popular vehicles that are already in short supply.
The number of vehicles on dealer lots will shrink the longer the walkout goes on. Dealers are likely to lose incentives that the manufacturers pay them to boost sales by cutting prices.Many analysts think it will take several weeks before dealer lots start to look a bit empty. Ford, General Motors and Stellantis built up inventories of vehicles ahead of Thursday night’s strike, and the UAW decided to limit the walkout to just three plants – at least for now.
If the strike isn’t ended soon, however, there could be shortages of some makes and models –big sellers or vehicles that are already in short supply, such as Chevrolet Silverado and Tahoe, GMC Sierra and Ford F-Series pickups. The car companies have plants in Mexico that could keep producing some models – as long as they have a supply of parts.
“You’ll start to see that pricing gets affected everywhere — and not just on the new end of the business," Drury says. “Used-car values, which have been seeing a bit of a decline from last year’s highs, could start going back up” as consumers look for an affordable alternative to new vehicles. Car prices were rising long before the auto workers even raised the possibility of a strike. A chip shortage, disruptions in the global supply chain and strong demand pushed prices higher.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LFA 169 Scheduled for Red River Rivalry Weekend in Dallas on Oct. 6Legacy Fighting Alliance is set to return to Dallas with a Red River weekend showdown. LFA 169 will go down Oct. 6 at The Factory in Dallas, concluding the promotion’s tour of its most frequented state.
Read more »
Trio helps Dallas Wings rally past Atlanta Dream in playoff openerSatou Sabally had 32 points, Arike Ogunbowale scored 24 and Teaira McCowan added a double-double to help Dallas overcome a slow start and beat Atlanta 94-82 in a first-round playoff opener on Friday night.
Read more »
Dallas Mavericks re-sign Markieff MorrisMarkieff Morris, the other piece of the trade that brought Kyrie Irving to Dallas from Brooklyn, is re-signing with the Mavericks. The return of Morris was announced Saturday, a little more than two months after Irving agreed to stay with Dallas on a $120 million, three-year contract.
Read more »
The auto workers strike will drive up car prices, but not right away -- unless consumers panicDALLAS (AP) — Car shoppers are heading for a new round of sticker shock if the strike by the United Auto Workers doesn’t end soon, particularly for popular vehicles that are already in short supply. The number of vehicles on dealer lots will shrink the longer the walkout goes on. Dealers are likely to lose incentives that the manufacturers pay them to boost sales by cutting prices. And consumers might make things worse with panic-buying. Many analysts think it will take several weeks before deal
Read more »
The auto workers strike will drive up car prices, but not right away -- unless consumers panicCar shoppers are heading for a new round of sticker shock if the strike by the United Auto Workers doesn’t end soon, particularly for popular vehicles that are already in short supply.
Read more »
United Way campaign aims to raise $5 million for southern Vancouver IslandThe 2023 campaign comes as food prices continue to hit record highs and rents are climbing, making it hard for some people to simply get by, the campaign chair says
Read more »