
Car prices remain high as Chinese-made semiconductor shortage keeps inventories low
Fox News
Car prices are still inflated as dealerships struggle to maintain their inventories amid a shortage of semiconductor chips coming in from China.
The price of used cars and trucks rose 31.4% over the past year, while new vehicles climbed 11.1%, the latest Consumer Price Index showed. The car dealers told Fox News they estimated that prices would continue to be high for the next one to two years.
"Customers come and see less now and have to pay a bit more," Diamond Cut Autos sales consultant Alexis Alvarez told Fox News. "For example, now you get a car that's 2010, and it might just cost you like four or five grand more."
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