As New Car Prices Soar, Shops Benefit
April 26, 2022—As new and used car prices hit record sales and resale price records—as high as 30% for new—auto shops have become the beneficiary of people choosing to invest their money into the maintenance and upkeep of their existing vehicles.
It’s even led some people to reconsider cars they once thought were undrivable, according to Ray Rosado, owner of Cross Creek Auto in Tampa, Florida.
“It’s ramping up. We are seeing a lot of vehicles in the past, I would say six months, where, even the past year, where cars have been, let's say, sitting for a year,” Rosado told Spectrum News 9.
Independent shops offering warranties are also benefitting,
Rosado said supply chain shortages for new parts have been a non-issue since he relies on NAPA parts and local suppliers. And if shops offer warranties, even better.