CHARLOTTE, N.C. — Driver Julie Johnson said she's ready to trade in her 2001 Porsche for something more practical ahead of her move to the country.
"I think I want a pickup truck or an SUV, so I can haul bales of hay and weird stuff like that," Johnson said.
Experts said demand for used cars like Johnson's continues to rise, making it more likely than ever she'll get top dollar.
Scott McCorkle, the owner of Liberty Buick GMC, said the shortage of used cars has never been greater.
He said a lot of it has to do with the 2009 Cash for Clunkers Program, which took about 700,000 used cars off the market.
The federal program gave incentives for people to trade in their older vehicles for something more environmentally friendly. McCorkle said it also disrupted the turnover cycle of cars, which, years later, is still affecting dealerships.
"For every new car sold, there's three used ones. So obviously, there's a high demand for used cars, and when you have a shortage, it puts you in a pretty tough situation," McCorkle said.
He also said the economy and the fact people are holding on to cars a lot longer now are also factors in the shortage, but he's hopeful things will balance out in the next few years.
WSOC
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