With the recent supply chain crisis and inflation taking off, the prices of used vehicles is taking the analysist by surprise, as outlined by axios:
Anyone who’s shopped for a car this year knows that new ones are hard to get and used ones have gotten way more expensive. And we know why: There’s a global shortage of all the computer chips modern-day cars require.
But October’s used car price growth still managed to shock even the experts.
The latest: The industry’s key index of used vehicle prices jumped another 9.2% over the span of just a month. That puts the index 38% higher than a year ago — compared to “just” 27% for the same stat in September.