BYRON, Ga. — Anytime you use the touchscreen in your car, heated seats, or press your 'push to start" button, you've used what's called a semiconductor chip.
“It’s a microchip that works a lot of the electronics in the vehicle, so it’s everything from a navigation system to power windows even heated seats and cool seats," Ashley Sutton, the general manager of Sutton Chevrolet, explained.
Just like a lot of things during the pandemic, the production of those chips stopped, creating a shortage all while spiking the demand, but while the lots still look empty today, Sutton says this time around, the empty spaces are because presales are booming
“To drive by a dealership and see an empty lot or low inventory levels, it’s kind of a misconception. The thought is that we don't have cars or can’t get them, but in fact, it’s totally opposite. We're turning our inventory faster than we ever have in the history of this store, certainly," he explained.
What does that mean for you if you're buying? It means inventory is limited and prices are higher. According to Edmunds data, the percentage of buyers paying above sticker price rose more than 50% since 2020. But there's a silver lining -- Sutton says there's no better time to trade your car.
"But your trade, again, every dealer will pay you a bunch of money for your trade, and we want to. It’s a great time to buy. if you find what you're looking for, we're working deals," he said, at least until things return back to normal.
The shortage will go through 2022.