Pandemic production losses continue to drive up new and used car prices in the U.S.

Summary

The Covid-19 pandemic continues to impact the U.S. car market, with about 8 million fewer vehicles produced for U.S. buyers due to production shutdowns and supply shortages. This supply deficit has driven up prices for both new and used cars, including exceptionally old vehicles. Automakers responded by prioritizing high-end, profitable vehicles during the shortage and have largely maintained this strategy, keeping supply tight and prices elevated.

Source

bskyPandemic production losses continue to drive up new and used car prices in the U.S.cnb.cx