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 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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General Motors Co, which plans a ride-sharing fleet of robotaxis for next year, is looking at further business opportunities for self-driving cars, such as custom designs that could be almost unrecognizable from those of today, a top executive said on Thursday. Custom-designed vehicles could be owned or leased by individual…
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