Why car prices remain so stubbornly high
CNN
Relief from record high auto prices could be coming soon. But that doesn't mean those prices will go back to where they were before the pandemic.
A shortage of necessary parts — primarily computer chips — limited production of new vehicles around the globe. That left car dealers short of supply to meet demand, allowing them to charge a premium for the cars they had available.
The average transaction price for a new car was $46,426 in December 2021, according to Edmunds, up $5,850 — or 14% — from a year prior.
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