CORPUS CHRISTI, Texas — Oasis Motor Company tells KZTV it's been a good month with an even turnover.
In fact, this month more cars were sold compared to last year.
"They fell on some pretty tough times. People weren't buying cars but now we're seeing that bounce back,” said General Manager, Bryan Hills.
Texas Auto Facts estimates vehicle sales were at their lowest in 2020. People weren't buying cars. Fast forward one year later, and there’s even more trouble for dealerships across the United States.
Dealermart off SPID is one of many businesses impacted by it.
"There was a microchip shortage that cause a shortage on the new vehicles, so customers didn't have the ability to trade in their vehicle for another vehicle,” said co-owner, Ryan Rhodes.
Rhodes and Rohan Shetty co-own Dealermart now with a full lot. But, as the production of new cars picks back up, they face a new challenge as several families work to make ends meet.
"We've seen strong sales in the 15,000 and under price range. We would say cars in the 20 to 30,000, it's slower. That's understandable because with higher interest rates means people's payments are higher,” Shetty said.
Bryan Hills at Oasis Motor said people that are interested in buying a vehicle. Try to find one that sticks to the budget.
"Your money doesn't go as far and so that's affected, people. Moved some people down the market,” Hills said.
Both dealerships are projecting 2023 will be a good year for business. They predict shoppers will have their power back in their hands when looking for a new car.