Certain models of car could be set for a sharp increase in price over the coming months according to new research into the Japanese earthquake conducted by an important US auto publication.
Edmunds.com, based in California, said on the 13th of April that a shortage of cars due to slowing or complete stop of production in plants all over the world due to the disaster will begin to have an impact on car showroom inventories from next month.
“Inventory will start to be noticeably limited next month and automakers will react by adjusting incentives on the models in short supply,” said a representative in a statement made to the press.
This will mean that any sale prices or dealer incentives, particularly on Japanese-made cars, will be removed. Cars like the RAV4 and the Highlander have already seen this happen according to some reports.
Anyone looking to buy a used car as a way of getting around this increase will likely find themselves disappointed as the prices of used cars tend to follow their brand new counterparts. People who are looking to get a new car are urged to buy early to avoid being hit with the increase in price due to diminishing numbers, or alternatively to wait out the storm until later in the year when new car models are set to become available for purchase.
The catastrophic effects of the earthquake in Japan have lead to parts being unavailable to plants all over the world; this has meant the production of Japanese made cars has come to a standstill. Toyota will be stopping production altogether for a number of days in April and May due to the product shortage in Japan.