Georgia port unable to release supply because of surge in demand

A Georgia port has been unable to release its supply of vehicles because of the surge in demand for new cars and truck driver shortage.

It is a temporary setback and we hope to get this done in the coming year or a half, said Griff Lynch, executive director of Georgia Ports Authority on Thursday, from the Port of Brunswick, which is the second-largest carport in the United States of America. Demand is there and that is good news, he said.

According to the latest inflation released by the Labor Department last month, Lynch gave the insight as the price for new cars increased 13.2% in April compared to the same time last year.

The price for used cars and trucks went up 22.7%, according to the data. The inflation data for May will be released on Friday.

The average price for a new vehicle increased to $46,526 in April 2022, a 7% increase compared to the month before and a 13% increase compared to the same time last year, according to Kelley Blue Book.

There is a shortage of around 80,000 truck drivers across the country, according to the American Trucking Association.

The association's president and CEO Chris Spear argued on Mornings with Maria that the slow return to work is exacerbating the supply chain's ability to meet demand. He noted that truckers have been moving more with less people and even less equipment in many instances. On Thursday, Lynch told FOX Business Ashley Webster that hundreds of new truckers have been coming to register to use our facilities every week, a sign that the driver shortage could be easing.

He stressed that the drivers have been coming from the Northeast and Midwest, so he said that we can continue to build on that.

According to Webster, 32,000 vehicles remain at the port, waiting to be transported to car dealerships, as demand continues to outweigh supply.

Webster said manufacturers can't produce enough cars to meet the demand because of the chip shortage, which has wreaking havoc on the industry.

He spoke to the owner of a Ford dealership in Brunswick on Thursday, who said he typically has 125 new cars to sell, but currently only has four.