Used vehicle costs increasing faster than Bitcoin as 2022 starts

Used vehicle costs have actually increased and are building up worth quicker than Bitcoin, according to market experts.

An international lack of semiconductor chips and pandemic-fueled decreases in automobile usage has actually improved the worth of utilized cars and trucks by countless dollars, states Hans Dau, a supply chain expert and CEO of the Mitchell Madison Group service consulting company.

“The spike in used car prices might be the only truly transitory piece of the inflation picture in the economy today,” Mr Dau stated.“COVID threw a monkey wrench into chip manufacturers’ planning process, as people stayed home and reduced chip production was allocated to consumer electronics.”

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