Texas Car Dealers Increasing Prices As Scarcity Spikes Amid Global Shortage Of Computer Chips

Dallas TX

13 May, 2021

2:09 PM

Description

CBS Dallas/Fort Worth May 13, 2021 For the next few months, Charlie Gilchrist figures his 11 car dealerships in the Dallas-Fort Worth area will sell just about every new vehicle they can get from the factories — and at increased prices, according to the Associate Press. A global shortage of computer chips has forced automakers to slash production. The result has been far fewer vehicles on dealer lots, just as the waning pandemic has fueled a pent-up consumer demand for cars, trucks and SUVs. Nearly all automakers are struggling with the chip shortage, which was caused by semiconductor=makers switching their factories to more profitable consumer-electronics processors when automakers closed last year due to the pandemic. Car production came back faster than expected, but the chipmakers did not quickly resume production of automotive-grade chips. CBS Local Digital Media personalizes the global reach of CBS-owned and operated television and radio stations with a local perspective.