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Affordability has broken down, but the costs of not having your own vehicle are even higher for many. Marin Cogan of Vox explains.
The cost of car maintenance and repair is rising much faster than inflation.
New light vehicle sales, including cars, SUVs and pickups, were up about 20% in June from this time a year ago.
The microchip shortage of recent years put the brakes on the production of new cars. That’s making for a low supply of used cars now.
The new entry-level price for a new vehicle is $25,000, auto research site Edmunds says.
Dealers are figuring out how to balance the supply of vehicles with softer consumer demand.
Samsung and AMD say demand is weakening for high-end devices like laptops and smartphones. But vehicles still face semiconductor shortages.
The technology, new to the U.S., can potentially make driving at night safer, says David Aylor of the Insurance Institute for Highway Safety.
Apple has big plans for CarPlay.
Prices are still high, but demand is slackening and inventory is catching up, AutoNation reports.