Inventory issues caused by supply chain disruptions during the COVID-19 pandemic have led to higher prices on vehicles, and experts predict that vehicle costs will not decrease significantly in 2024.
If you’re planning to pick up a new or used vehicle in 2024, don’t expect it to cost much less than it would have last year. During the COVID-19 pandemic, inventory became a big factor due to supply chain issues that impacted the availability of semiconductors and automotive computer chips , leading to higher prices on vehicles.
And automotive experts don’t expect vehicle costs to return to pre-pandemic levels any time soon.
Vehicle Prices Supply Chain COVID-19 Pandemic Inventory Semiconductors Automotive Computer Chips
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