New vehicle availability improving; trade-in values dip, but remain strong

LUBBOCK, Texas (KCBD) - Supply chain issues have affected just about every industry in some capacity the last few years. Combined with the computer ship shortage, the auto industry has been particularly hard hit.

But this trend has reversed at car lots across the nation.

Representatives at Frontier Chrysler Dodge Jeep Ram say there has been a significant improvement in recent months. Their sales lots have more vehicles than just about any point since the pandemic began. This means more options for consumers.

“We have the most inventory than we’ve had in nearly two years...since pre-COVID,” general manager Rick Harrison said. “The options are much more diverse. You have more colors, more different trim models, and so...as inventory comes in daily, there’s more and more to have.”

With the supply crunch, used vehicle values spiked in 2021. According to Consumer Reports, the average trade-in offer has dropped some recently, though you can still expect far more than just a few years ago.

“As the new inventory starts to increase, we’re still having to draw on used cars inventory. So used cars right now are bringing good value still,” Harrison said. “And now there’s more new car options to choose from. So you’re still getting top dollar for trade-ins and you’ve got more selection for new cars.”

Frontier recently expanded its Jeep showroom on Spur 327 west of Frankford Avenue. The larger facility showcases the latest in Jeep engineering and technology. And it also has a look back at Jeep’s storied history, with a mural highlighting the brand from its inception to today.

More specifics on the new facility can be seen in our earlier story.

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