The auto workers strike will drive up car prices, but not right away — unless consumers panic – By David Koenig (Associated Press) / Sept 16, 2023
DALLAS (AP) — Car shoppers are heading for a new round of sticker shock if the strike by the United Auto Workers doesn’t end soon, particularly for popular vehicles that are already in short supply.
The number of vehicles on dealer lots will shrink the longer the walkout goes on. Dealers are likely to lose incentives that the manufacturers pay them to boost sales by cutting prices.
And consumers might make things worse with panic-buying.
Many analysts think it will take several weeks before dealer lots start to look a bit empty. Ford, General Motors and Stellantis built up inventories of vehicles ahead of Thursday night’s strike, and the UAW decided to limit the walkout to just three plants – at least for now.
