Are you looking for a used car? First of all, good luck. But even if you are, you’d better start saving up now since used cars have never been more expensive
For the 93rd consecutive week, used car prices have continued to rise despite sky-high inflation rates. Over the past six months, second hand car prices have risen by £4,200 from the mid-August figure of £16,000.
Consumer prices jumped 7.5% last month compared with 12 months earlier, the steepest year-over-year increase since February 1982, according to the Labor Department.
The same factors that drove used car prices to record levels in 2021 still exist today, and they don’t appear to improve any time soon.
What Causes these price rises in the auto industry ?
Microchip shortages are one of several factors. Any used car buyer has to deal with inflation as well. Simply put, everything has become much more expensive since a year ago. Chip shortages have plagued the automotive industry since 2020, when a pandemic sparked purchase of a variety of electronic devices requiring them, including smartphones and microwaves. Another major factor in the UK is the shortage of Heavy Goods Vehicle drivers that can’t meet the demand on new cars, which alternatively leaves people searching for used cars.
What’s the solution?
We buy left hand drives company took a few moments to answer this and stated that Left hand drive cars were in high demand at the present moment due to right hand drive cars rocketing rises. Even though the UK drivers drive on the left side of the road, a right-side wheel is mandatory but the left-hand car company has seen a substantial rise in LHD Cars in the United Kingdom in recent years.
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