New and used cars scarce, prices rising due to computer chip shortage

With low inventory of microchips, many items such as laptops, computers and even cars are more expensive

“There’s no cars,” one shopper said. New Jerseyans in the market for a new or used car complain it’s almost impossible to find anything on the market lately. And when they do find a likely purchase, it’s often over the list price. Additional dealer markups are common, and even used cars cost thousands more than just a year ago. Desperate buyers are paying. One person said, “I had to snap this up before it was gone. There were people looking at it as we were buying it.” The inventory pipeline is close to empty because semiconductor computer chips cars depend on remain in such short supply. Some carmakers have rolled finished vehicles off the assembly line only to park them in lots, awaiting those vital chips.

We’re in this together
For a better-informed future. Support our nonprofit newsroom.
Donate to NJ Spotlight