Meanwhile, used car prices are still skyrocketing. But industry experts say that’s because a global microchip shortage has hamstrung supply chains for new cars. That trickles down to the used-car market, which relies heavily on trade-ins and auto parts. The expectation among many economists is that once factories can ramp back up, supplies of chips and new cars will flow through the auto market and eventually bring prices for used cars down.

Source: Washington Post July 19, 2021 16:37 UTC