The Virginia-based used car consignment network is planning to open its second Chicago location this summer season in Highland Park. The firm saw inventory at its Downers Grove location drop from 600 to 200 automobiles over the past few months. The semiconductor shortage and plant shutdowns decreased new car inventory by 48% year-over-year in April, a situation that will doubtless get worse before it will get better, Caldwell mentioned. As new vehicles turn into scarce, the costs rise as nicely, with a report 13% of consumers paying above sticker price in April, Edmunds reported. Last year, more than 38 million used vehicles were sold, compared with 14.5 million new vehicles, Caldwell stated. Potential prospects walk the lot at CarLotz, a used car consignment vendor, May 3, 2021, in Downers Grove. Used car values are skyrocketing as new car production grinds to a halt and stock dries up
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