Why are new and used car prices still so high?

Justin Sullivan/Getty Images
Like Love Haha Wow Sad Angry

It has been nearly three years since auto plants around the world started to shut down because of the pandemic.

Yet between the pandemic, an acute shortage of semiconductors and other supply chain snarls, vehicle production has never really returned to normal.

And prices? Hoo boy.

Both new and used prices have stopped skyrocketing. In fact, both dipped slightly in February.

But the average new-vehicle transaction price is still $48,763, according to Kelley Blue Book. Before the pandemic, the average new vehicle sold for $37,876.

At an auto show this year, Noah and India Grabisch of Laurel, Md., were looking at new SUVs, which they liked. But an $86,000 price tag for a Chevrolet Suburban?

Read more at NPR.org

What Are Your Thoughts?


Chuck comes from a lineage of journalism. He has written for some of the webs most popular news sites. He enjoys spending time outdoors, bull riding, and collecting old vinyl records. Roll Tide!