Production shutdowns and a lack of semiconductor chips is in part to blame for the shortage of vehicles on dealership lots, which has helped boost the price of new and used vehicles to record levels. “Wholesale prices for used cars sold at auction are up 26% since 2021” and retail used car prices are up 7%, according to CNN Business. “That’s also a significant jump for this time of year, and the higher wholesale prices are pointing to bigger increases on the way.” (Source: CNN Business) Read the original story…
