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If you were thinking shortages for new cars and parts was something we left behind in 2022, think again. A possible strike by dockworkers along the East and Gulf coasts could negatively impact shipping new vehicles and components, once again causing prices to soar as supply is constrained.
Hurricane Helene leaves infrastructure devastation in its wake.
In other words, buying a new ride would cost you more as ports struggle. And having your vehicle repaired, whether it’s newer or older, would also set you back more cash than before. That means everyone would end up literally paying the price for this strike.
That’s the warning being raised by Autotrader’s executive editor Brian Moody, who spoke with Fox Business about the concerning situation. “If a person has a repair or a recall or something that they’re aware of now, I would make the appointment and get down there today if possible,” said Moody.
Many car dealerships still aren’t carrying the kind of inventory that was common before the pandemic. That’s bad news for shoppers looking for deals. After all, if dealers don’t have that many vehicles to sell, they’re just not as willing to wheel and deal but instead will be less negotiable on price and other terms.
Also, as one dealership owner told Fox Business, that means a supply disruption will really put the pinch on dealers quickly. To compensate for the lack of new models, dealers could snatch up more used cars, inflating prices in that market again.
As for vehicle parts, we know of not a single model today where all the parts in it come from the US. In fact, whenever surveys of the “most American” car are taken based on where the different components in it are made, it’s often not something from the Big Three which tops the list.
You might be shocked the next time you have to buy tires, brake pads, even wiper blades.
We could be looking at port strikes starting on October 1 if the International Longshoremen’s Association doesn’t reach an agreement with US ports stretching from Texas to Maine along the two coasts.
Image via BMW
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