DETROIT – With car prices already high, what could an automotive strike mean for small car dealers who are eager to get used car inventory off their lots?
Live updates: UAW strike looms hours before contracts expire with Big Three automakers
The lots are already loaded. Used car prices and higher interest rates have already made the car sales market stall a little, but a threat of a strike could make things worse.
If the strike moves forward, production will be brought to a halt, which will impact the inventory. Automakers will likely stop the incentive programs that may bring cars buyers in, but for smaller locally-owned dealers, this is an even bigger concern as used car prices won’t have a choice but go up.
If you’ve thought about buying, interest rates are likely going to rise and with the threat of fewer cars coming off the line, the concerns about prices will only grow.
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