As consumers flock to car dealerships this weekend to take advantage of Fourth of July deals, they should prepare for some fierce competition.
鈥淚f you want to buy a car, get out there quickly and get the deal done,鈥� said John Vincent, senior reporter at U.S. 太子探花 and World Report. 鈥淭here are shortages across dealer lots.鈥�
The shortage of cars is driven by a shortage of microchips, he said.
During the pandemic, as more people worked from home and the demand for cars plummeted, chipmakers pivoted away from cars and toward computers and tablets.
Microchip shortages caused auto factories to shut down, which led to fewer cars available on dealer lots.
Now, those trends are shifting back. 鈥淭here鈥檚 a strong demand for people to get back to work and start taking road trips again,鈥� said Vincent. But while demand for new cars is rising, inventory remains low.
On Wednesday, U.S. 太子探花 and World Report published their rankings for the Best Fourth of July Car Deals. The 2021 Honda Civic, 2021 Hyundai Elantra Hybrid and the 2021 Toyota Avalon Hybrid top the list.
The list includes five SUVs, two compact cars, two hybrid cars and one electric car. The deals range from 0% financing for 6 years for the 2021 Kia Sportage to up to $3,500 cash back on the Avalon Hybrid.
The most pressing customer concerns, Vincent said, are affordability and practicality: 鈥淵ou can鈥檛 get a good deal unless you鈥檙e getting a good car.鈥�
You can view the complete list of the Best Fourth of July Car Deals on the .
