Auto Industry Prices Skyrocket — Used Cars Up 41.2%, New Cars and Trucks Up 12.4%

[mystery-ak]

Auto Industry Prices Skyrocket — Used Cars Up 41.2%, New Cars and Trucks Up 12.4%

Wendell Husebø 10 Mar 2022

As workers continue to return to commuting, the price of vehicles and auto parts is soaring.

The price of new and used cars and trucks has skyrocketed over the past year, according to data released by the Department of Labor on Thursday.

The cost of new cars and trucks in February increased 12.4 percent compared with 12 months ago. The price has risen 0.3 percent since January.

The cost of used vehicles is still in the fast lane, increasing 41.2 percent since last year despite a 0.2 decrease from the prior month.

It will not help much to just try to keep the old car running. Car parts prices are up 11.3 percent compared with a year ago. Tires are up 15.4 percent. Bodywork is up 11.9 percent, and repairs are up 6.7 percent.

And, of course, gas prices are at record highs.

Overall, the prices rose 7.9 percent compared with a year ago, a 40-year-high record high.

https://www.breitbart.com/economy/2022/03/10/auto-industry-prices-skyrocket-used-cars-up-41-2-new-cars-and-trucks-up-12-4/

[IsailedawayfromFR]

Biden and Buttigieg will likely request Congress $ billions more to shore up the Chinese Automotive Manufacturing facilities.

Exactly the same as requesting OPEC to up production instead of it happening here in this country.

[DB]

Used cars from about 5 years ago are going for more than they cost new around here...

[roamer_1]

Used cars from about 5 years ago are going for more than they cost new around here...

I've got an 85 chevy 3/4T 4x4 Silverado with a blown motor on the hook. Decent body, not great, rolled over at least once, maybe twice by now. Needs front end and brakes and tires too. Decent bones, but it needs gone through. Normally that'd be five hundred bucks if I ain't invited to tow it away for free... Currently at fifteen hundred...

[DB]

You might be shocked what you can get for it.

It really is crazy out there right now.

[roamer_1]

You might be shocked what you can get for it.

It really is crazy out there right now.

Well, the problem lies in fixing it to flip it. 90 days, maybe 120. And parts are through the roof too. It's all alright if I can sell it while prices are still nuts - Finished it will go for 10, maybe 12k locally, where it used to go for 8k, tops. But sooner or later the bottom is going to fall out and whatever I am flipping will leave me holding the bag.

Makes me jumpy. Not for now... but this next election could really change the temperature. I will probably do one for the summer, and sit out the fall to see where it all goes.

[DB]

Well, the problem lies in fixing it to flip it. 90 days, maybe 120. And parts are through the roof too. It's all alright if I can sell it while prices are still nuts - Finished it will go for 10, maybe 12k locally, where it used to go for 8k, tops. But sooner or later the bottom is going to fall out and whatever I am flipping will leave me holding the bag.

Makes me jumpy. Not for now... but this next election could really change the temperature. I will probably do one for the summer, and sit out the fall to see where it all goes.

My wife's 2017 car was totaled about three weeks ago. We replaced it with the same make, model and year. The replacement cost more than we paid for the original car in 2018 that was essentially new with 1,100 miles on it straight from the dealer.

It is that crazy now...

[roamer_1]

My wife's 2017 car was totaled about three weeks ago. We replaced it with the same make, model and year. The replacement cost more than we paid for the original car in 2018 that was essentially new with 1,100 miles on it straight from the dealer.

It is that crazy now...

Yeah... Not quite that bad up here in the sticks... But probably not enough difference to ship em to Cali or AZ or Vegas. Maybe I could make a buck or two more... Funny thing is, old Detroit muscle has not followed suit. Got a line on a pretty clean 71 Malibu 2dr... Nice project for an SS tribute. Can't make at all out of the valley.