LEWISVILLE, Texas — It hasn't been easy for consumers to buy new or used cars, and it could get worse because of Russia's invasion of Ukraine.
"I've never seen anything like this," said Brian Day, the general sales manager at Lewisville Autoplex.
Day has been in the auto industry for more than 20 years.
"We're seeing huge jumps in prices," he said.
With the war in Ukraine, the price of metals used in cars is increasing, including aluminum, palladium and nickel. Metals aren't the target of Western sanctions, but many suppliers are already cutting off Russian products.
Day said it's been one thing after another.
"We have a war overseas. We have a ship taken down with thousand of vehicles at the bottom of the ocean. We have a chip shortage and semiconductor shortage. We now have issues with metal pricing getting hiked up."
As a result, some dealerships have empty lots and are forced to shut down. He said people are losing their jobs, or even trying to leave the auto industry.
Day said new cars are pre-selling before they even arrive at dealerships. For example, a smaller commuter vehicle that would normally cost $15,000 is costing close to $20,000. A new Ford F-250 Platinum, according to Day, would have cost around $70,000 and is now going at around $90,000.
Some used cars are selling for more than they initially cost.
"I'm giving people more money today than what they paid for two years ago, which is crazy. And they have 30,000 miles on it," said Day.
While he understands the halt on Russian supplies, he said it will impact the auto industry in the United States on both buyers and sellers.