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Microchip shortage drives car prices up


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microchip-shortage-drives-car-prices
Just the News

Prices for new and used cars continue to go up as a microchip shortage continues to affect the industry.

Used cars have been more heavily impacted. According to the U.S. Bureau of Labor Statistics, used car prices have jumped 21% since April 2020. In Illinois, used car prices have increased nearly 15% over the past year. New car prices have increased 2% during the same time period.:snip:

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