Eager buyers, but dealers battling supply shortages

Austin’s Maxwell Ford auto dealership could sell more more cars if only it could get them.

But as it stands, at dealers across Central Texas and the U.S., that’s not happening.

“We typically stock 1,000 new cars and right now we’re down to about 100,” said Steve Cargo, new car director at the dealership. “It’s getting down to very lean, lean inventory. Cars that were supposed to come in this month are pushed back three or four months.”

Strained for months by a global semiconductor shortage and supply chain disruptions,  new car inventoriesaren’t expected to begin recovering until September — and likely will remain well below their pre-pandemic levels through 2022, according to a new report from Goldman Sachs.

Prices rose 5.3% over the past year, hitting record levels. According to automotive research firm Edmunds, the average price for a new car is now $41,000.

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