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, as reported by Daily Report.
The scarcity was caused by 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, according to Axios. 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.
Adding to the price shock, October is historically one of the slowest months for used car sales. Read the full story.