Mel Rapton Honda moves to a new owner this weekend. The dealer’s sale comes amid a tough year for consumers as prices continue to rise. Dave Rapson, professor of economics at UC Davis, said there were two factors driving car prices soaring nationwide. new cars, and the reason is that these two markets are linked. So when the price of new cars increases dramatically, people might start looking for substitutes, ”Rapson said. car production in 2020, which continues to affect the demand and supply of used cars today. “Basically, there was a big contraction in supply in 2020 and 2021, as the demand for travel and services, and as people started to go back to the office, now people started wanting cars,” Rapson said. Cox Automotive reports that the inventory of new cars in the United States has declined by more than 50% this summer, compared to the same period in 2019. Although co-owner Katina Rapton said their decision to sell was personal and that I am retiring to spend more money me with their families, she recognizes that consumers have had to pay a lot more this year as issues like supply chain, transportation and labor shortages “Work has all come together. Us, but hurts businesses and consumers. Supply goes down, demand goes up; prices usually go up,” she said. Record prices were reported in September. The transition from Mel Rapton Honda will take place this weekend and concerns all three venues. Their 100+ employees will be able to keep their jobs as long as they meet certain requirements such as passing a drug test.

Mel Rapton Honda moves to a new owner this weekend. The dealer’s sale comes amid a tough year for consumers as prices continue to rise.

Dave Rapson, professor of economics at UC Davis, said there were two factors driving car prices soaring nationwide.

“It’s not just new cars that are expensive, but it’s used cars, and the reason is that these two markets are linked. So when the price of new cars goes up dramatically, people can start to look for substitutes, ”said Rapson.

The COVID-19 pandemic has contributed to a reduction in car production in 2020, which continues to affect the demand and supply of used cars today.

“Basically, there was a big contraction in supply in 2020 and 2021, as the demand for travel and services, and as people started to go back to the office, now people started to want cars.” , said Rapson.

Cox Automotive reports that US new car inventories were down more than 50% this summer, compared to the same period in 2019.

Although co-owner Katina Rapton said their decision to sell was a personal one and they are retiring to spend more time with their families, she acknowledges consumers have had to pay a lot more this year due to issues such as supply chain, transportation and worker shortages. are all together.

“The supply chain situation has hurt us a bit – not so much, but more business and consumers. Supply goes down, demand goes up; prices usually go up,” she said.

Record prices were recorded in September.

Mel Rapton Honda’s transition will take place this weekend and includes all three locations. Their 100+ employees will be able to keep their jobs as long as they meet certain requirements, such as passing a drug test.


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