Coping with skyrocketing new and used car prices

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If you’ve thought about obtaining a new car or truck, you almost certainly recognized two points: fewer cars and trucks on tons and skyrocketing charges.

The regular value for a new car or truck purchased in December of 2021 was over $47,000, up practically $6,000 from a calendar year before. 

Motor vehicle companies are still working with a microchip shortage and production will likely be squeezed for at least a different yr, according to market analysts.  

The scarcity of new autos has experienced a ripple result. Used car or truck price ranges have also shot up as more men and women appear for a less pricey choice to a new automobile.  And, extra men and women are holding on to their autos for extended, opting to repair them instead of investing them in. 

Coming up at 9 a.m. Monday, MPR News guest host Chris Farrell talks with an automotive journalist and electric powered auto pro about how buyers can cope with the significant-value motor vehicle sector and in which it might be headed. 

And we want to listen to from you, our listeners: Have you attempted to buy a new or utilized auto a short while ago? How was the expertise? Have substantial vehicle price ranges or gas prices created you rethink the sort of automobile you want? Have you determined to fix your wheels fairly than acquire a new established?  Call us at 651-227-6000 or 800-242-2828 through the 9 a.m. hour. 

Visitors: 

  • Jukka Kukkonen is founder of Shift2Electric, a Minnesota-based mostly electric powered auto consulting and teaching firm. He drives an electrical motor vehicle and in 2012 launched the MN EV Proprietors group, which has grow to be 1 of the premier and most lively regional plug-in auto proprietor teams in the nation. 

  • Sean Tucker is an automotive journalist who has published for U.S. News and Earth Report, Kelley Blue E-book and Autotrader. He’s based exterior Washington, D.C. 

You make MPR News doable. Individual donations are at the rear of the clarity in coverage from our reporters throughout the point out, stories that join us, and conversations that give perspectives. Help be certain MPR continues to be a useful resource that provides Minnesotans together.

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