The Virginia-based used car consignment network is planning to open its second Chicago location this summer in Highland Park. The firm noticed inventory at its Downers Grove location drop from 600 to 200 vehicles over the past few months. The semiconductor shortage and plant shutdowns reduced new car inventory by 48% year-over-year in April, a situation that may doubtless worsen earlier than it will get better, Caldwell mentioned. As new automobiles become scarce, the prices rise as nicely, with a record 13% of consumers paying above sticker worth in April, Edmunds reported. Last year, greater than 38 million used vehicles have been sold, compared with 14.5 million new cars, Caldwell stated. Potential clients stroll the lot at CarLotz, a used car consignment vendor, May 3, 2021, in Downers Grove. Used car values are skyrocketing as new car manufacturing grinds to a halt and stock dries up
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