ST. Lewis Park, MN — It may come with a ribbon, but that doesn’t mean they’ll give it away for free.
This new Alfa Romero Tonali hybrid certainly caught Le Everhart’s attention. “I’ve been a subscriber to Hot Rod Magazine and Car and Drivers since the late ’60s,” Everhart said. “That’s why I’ve always been a car enthusiast.”
Today, Everhart said he was just watching. Just like he’s been doing for the past three years. “It’s been several years since I retired, but my income hasn’t increased as much as before due to inflation.”
For many Minnesotans like Everhart, the auto market hasn’t been what it used to be for a long time. The pandemic has wreaked havoc on global supply chains. At the same time, Americans were given stimulus cash. Auto dealers say that perfect storm is passing and something else is taking its place. Supply is increasing, but so are interest rates. There are many cars, but there are not many buyers. Something has to give.
“We currently have about 30 days worth of inventory on the lot,” said Scott Lambert with the Minnesota Automobile Dealers Association. “And the problem is, 2023 is over and 2024 is just around the corner.”
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“We have enough product in the lot to satisfy our customers,” Lambert said. “If you’re picky and want to order something special, if you’re interested in something really special, you’ll have to wait.”
Les Everhart promises he’s still waiting anyway. There’s one thing that’s changed about him from before the pandemic, and it looks like he won’t be going back.
“Do you think the average price of a car four years ago was about $22,000? Now let’s see how much it costs,” Everhart explained. “Even if you divide 0% by 60 months, this is still a lot.”