Price Jump for Used Cars Results in Boost in Michigan Sales Tax Collected

Close up of a line of cars

The microchip shortage responsible for bottlenecking the production of new cars has been a boon for the used car market.

However, the lack of available new vehicles also has created a greater demand and thus a scarcity of quality used vehicles.

This has driven up the cost of used cars and trucks, which has also increased the sales tax collected on used vehicle transactions. The national average increase in used car sales prices is 16.8% or $3,926 per vehicle sold.

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Volkswagen to Funnel $800 Million into Chattanooga Plant to Build Electric Vehicles as President Trump Pressures German Companies to Invest in America

Volkswagen will spend $800 million to expand its Chattanooga factory to become the German company’s North American hub for manufacturing electric vehicles, and the Scenic City may want to thank President Donald Trump. VW CEO Dr. Herbert Diess made the announcement at a presentation at the Detroit Auto Show Monday, TechCrunch…

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