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Bobby Wilkinson Ottawa Explains Why Car Prices Are Nearing Record Highs

Bobby Wilkinson Ottawa Explains Why Car Prices Are Nearing Record Highs

OTTAWA, ONTARIO, CANADA, April 26, 2021 / -- Car buyers in Ottawa are entering perhaps unfamiliar territory: many vehicles are selling for their sticker price, if not more, and discounts are hard to come by. Bobby Wilkinson is going to explain why.

Often, car purchasers can negotiate car prices down quite a bit to secure a sale. Right now, however, automobile prices are nearing record highs and limited supply is driving prices up. Bobby Wilkinson, a leading car salesperson explains why.

“At the end of the day, it’s all about supply and demand,” Bobby Wilkinson argues. “In Ottawa, there’s a shortage of vehicles while demand is still quite high. Limited supply and high demand drive prices up.”

Often, the supply of vehicles at a car dealership is quite high and many salespeople are looking to move products quickly to create room for future vehicle deliveries. As a result, customers have negotiating power.

Yet right now, vehicle supplies are restrained. Why? The COVID-19 pandemic has upended supply chains across the world. While some experts hope that vaccines may bring the pandemic under control in the coming weeks, the impact on supply chains may be felt for many more months to come.

“Global supply chains are very complex,” Bobby Wilkinson notes. “Even if your car is assembled in Detroit or Ottawa, parts will come from all over the world, including potentially the European Union, Japan, China, Mexico, and wherever else. The pandemic has upended supply chains across the globe.”

Right now, computer chips are especially hard to come by. Ford and other automakers have had to shut down production temporarily because they can’t get the needed chips to put into cars. As a result, dealers are getting fewer deliveries of vehicles.

It’s not just automakers who are struggling to get chips either. Video game consoles, including Sony Playstations and Nintendo Switches, have regularly sold out. Computer graphic cards are hard to find and often selling for much higher than MSRP on eBay and elsewhere. Even laptops have been hard to find at times.

So what's a customer to do?

Bobby Wilkinson Offers Advice For Car Buyers Amid Constrained Supply
How should a car buyer in Ottawa or anywhere else approach buying a car right now? Bobby Wilkinson offers some sage advice.

“If you’re not in a rush to buy a car, consider delaying buying a vehicle for a few months,” Bobby Wilkinson says. “Companies are going to ramp up production of computer chips and other needed components as rapidly as they can. Eventually, production will meet high demand.”

Need a vehicle now? Buyers may have to pay a bit more but by doing a bit of research and closely considering your needs, you can get a vehicle that still offers great value.

“Closely consider what type of car suits your family right now. If you pay a bit more money for a vehicle, but it serves your needs well, it’s still an excellent value,” Bobby Wilkinson says. “And you can still shop around too, some dealers may be looking to clear out used cars or last year’s models, and maybe you can still get a great deal.”

Caroline Hunter
Web Presence, LLC
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