The new-car market has been hit by the semiconductor shortage and supply chain disruptions for over a year, resulting in lower production and higher prices.
Increased interest rates have contributed to the average new vehicle being less affordable, the Cox Automotive/Moody's Analytics report said.There are three factors that could lead to inflation which include demand-pull inflation, cost-push inflation and built-in inflation.
The prices of new vehicles have continued to climb, both month-over-month and year-over-year, according to the
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