Why are used cars so expensive right now?

  • By cvbizz
  • June 10, 2021
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If you have been looking for a new or used car this might be a tough summer. Prices for used cars have skyrocketed. Plus, it’s getting tougher to find brand new cars on dealership lots.

We’ve had several viewers ask us by e-mail: Why is it so hard to get a new car?

Question: What is behind the car shortage in the United States?

Answer: The car shortage is two-fold: Early pandemic factory shutdowns and a computer chip shortage for cars.

What We Found:

We have seen all kinds of shortages during the pandemic. Toilet paper, hand sanitizer, and even Grape Nuts! But, the latest is one you might not have predicted: cars.

Two issues have led to car shortages. The first one is obvious: pandemic shutdowns. The second comes from somewhere else: computer microchips. Modern cars use computer chips for almost everything from seat adjustments to the entertainment panels.

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