Coping with skyrocketing new and used car prices
If you’ve believed about acquiring a new car, you likely found two items: much less cars on loads and skyrocketing rates.
The normal selling price for a new motor vehicle purchased in December of 2021 was above $47,000, up approximately $6,000 from a calendar year previously.
Automobile manufacturers are nonetheless dealing with a microchip shortage and creation will very likely be squeezed for at least yet another yr, according to industry analysts.
The shortage of new automobiles has had a ripple result. Employed auto prices have also shot up as more people today seem for a less pricey substitute to a new car. And, additional people today are keeping onto their motor vehicles for lengthier, opting to restore them instead of trading them in.
On Monday, MPR News guest host Chris Farrell spoke with an automotive journalist and electric powered auto professional about how shoppers can cope with the significant-price automobile current market and where it could possibly be headed.
Friends:
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Jukka Kukkonen is founder of Change2Electric, a Minnesota-based mostly electric car consulting and teaching enterprise. He drives an electrical car and in 2012 founded the MN EV Proprietors group, which has turn into one of the most significant and most energetic regional plug-in car operator groups in the country.
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Sean Tucker is an automotive journalist who has created for U.S. News and Planet Report, Kelley Blue E book and Autotrader. He is dependent outdoors Washington, D.C.
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