WASHINGTON, D.C. - With COVID-19-driven supply chain issues causing a worldwide shortage of semiconductors – and, subsequently, a shortage of the new cars that depend upon them – the largest automotive supplier in all of Europe, Bosch, is anticipating that those shortages will continue into 2023, bottlenecking new car production even further, unfortunately. Chairman of … [Read more...] about Europe’s Largest Auto Supplier Anticipates Vehicle Chip Shortage to Continue into 2023
Used Car Market in Such Turmoil Chevy to Pay New Corvette Owners $5K Not to Sell
DETROIT, MI - In what is essentially a public relations program driven by skyrocketing prices on the used car market, Chevrolet – a division of automobile manufacturer General Motors – is currently offering owners of the newest model of its iconic Corvette sports car a cool $5,000 as an incentive to hang onto their rides an extra year instead of immediately flipping … [Read more...] about Used Car Market in Such Turmoil Chevy to Pay New Corvette Owners $5K Not to Sell
Inflation Causing Used Car Prices to Jump $10,000 Causing Hardship for Consumers
WASHINGTON, D.C. – The 40-year high bout of inflation that the country is currently embedded in is causing prices of consumer goods to skyrocket in nearly every market conceivable, but there are few areas where this is being felt more than in the used car industry. Over the course of the past two years, prices of used cars have jumped considerably, with the average … [Read more...] about Inflation Causing Used Car Prices to Jump $10,000 Causing Hardship for Consumers
Prices of Used Cars Up 43%; Shortages Keeping Repossessors “Super, Super Busy”
WASHINGTON, D.C. - Despite COVID-19 being far less of a threat these days due to the proliferation of individuals who are either fully vaccinated or who have obtained a degree of natural immunity from prior infections of the virus – or both – the lasting effects of the pandemic are still being felt throughout the world, sometimes in the most unexpected of ways. In this … [Read more...] about Prices of Used Cars Up 43%; Shortages Keeping Repossessors “Super, Super Busy”