Record-High Vehicle Prices May Continue Into 2023

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Sept. 9, 2021—Record-high consumer prices for vehicles — new and used, as well as rental cars — will extend into next year and might not fall back toward earth until 2023, the Associated Press reported.

The forecast comes from industry analysts as the COVID-19 delta variant has surged in several Asian countries that are main producers of auto-grade chips. 

The global parts shortage involves not just computer chips. Automakers are starting to see shortages of wiring harnesses, plastics and glass, too.

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