DENVER (KDVR) — Car sales in Colorado appear to be up, according to the latest state data. Auto experts say it could be a great time to trade in a used vehicle.
“There is a huge supply chain shortage causing inventories to be really low,” Tim Jackson, CEO of the Colorado Automobile Dealers Association said.
Industry leaders say a shortage of microchips globally continues to impact the auto industry.
“A car could have as many as 200, 300 or even 400 [micro]chips,” Jackson said.
Jackson says in October, used car sales were up anywhere from 30% to 50%, adding in some cases, car owners could even make a profit.
According to the most recent data from the state, motor vehicle and parts sales were up 25% this September, compared to September 2018.