Quote:
Originally Posted by Xist
People keep saying that the economy is doing poorly, so everyone wants used cars. People also keep saying that with the stimulus money, people have just enough money for cheap used cars. My girlfriend also keeps asking "Isn't it because of semiconductor shortages?!"
"What? Okay."
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The economy isn't doing poorly for people that are in income levels to buy new cars.
There is a shortage of chips in the auto industry that is causing manufacturers to do rolling production shutdowns when they run out of chips. (A typical vehicle has about 50 chips in it). This reduces the supply of new vehicles in the market and has pushed up the value of used vehicles.
Good luck with the car shopping