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It’s called “vehicle-to-everything” technology.
EVs, hybrids and plug-in hybrids made up 18% of new vehicle sales in the U.S. in the first quarter of this year. But that share was down slightly from the previous quarter.
And people are increasingly shopping around for a better deal, according to new data from JD Power. Finding one is another matter.
They aren’t keeping as many vehicles on their lots as before the pandemic, but they have way more than they had during it.
The trend of bigger, weightier vehicles — known as car bloat — has contributed to road fatalities and environmental contamination.
The repossession industry is struggling with an enduring labor shortage, while 1.5 million car repos are expected this year.
Even though prices have come down and the federal government is helping with rebates, the average price is still above $50,000.
In 2022, inflation reached its highest level since 1981.
Dealers are still playing catch-up after the chip shortage and suppliers are building parts for new cars rather than those on the road.
Another example of inflation caused by the pandemic.