Used car prices skyrocketing in the U.S.


Prices for used cars have been skyrocketing in the U.S.

Experts say it’s due to a number of factors, including low inventory, both in the new and pre-owned car markets, as well as pandemic-related production shutdowns and a lack of computer chips needed for new cars.

Analysts say they expect these market conditions to last through the summer and possibly into next year.

Chip Yost reports for the KTLA 5 News at 10 and 11 on June 7, 2021.

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