This past year, new car prices skyrocketed and companies were unable to meet their a-typical sales metrics. However, more recently, used car prices are returning back to a normal rate. Part of the reason why new cars were so expensive this past year was partially accredited to the global microchip shortage, which then minimized available supplies. The microchip crisis also enabled automakers to be able to sell fewer cars than usual, which in return, hikes up the price. Meanwhile, used car shoppers paid less in June than they did in May or April, which is great news for those interested in buying a used car.
If you are looking to buy a car right now, it is important to do your research prior to making your purchase. Especially in recent times, older and less expensive cars are not as common as they used to be. Thus, giving buyers less options when it comes to finding feasible options. For more information on industry updates and the latest trends in the automobile sector, check out our blog. Or better yet, give us a call. We are your Certified California DMV Service Provider!
Works Cited:
https://www.autonews.com/manufacturing/latest-numbers-automotive-microchip-shortage-60
