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New, used and rental cars all in short supply due to global chip shortage
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Car dealers warily eye state direct-sales efforts
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New, used and rental cars all in short supply due to global chip shortage
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This story is sponsored by KSL Cars.Your next car is waiting. Search Utah s largest selection of new and used cars.
Not unlike the Utah housing market, new and used car prices are soaring due to low supply and high demand, according to NPR. The Washington Post reports used car prices have increased 17% over the last 17 months more than any other commodity on the market.
What does this mean for sellers? Your vehicle and its listing on KSL Cars both need to be top notch to fetch top dollar.
KSL Cars is the perfect place to list your vehicle for sale, but there is a lot more to creating an eye-catching listing than simply snapping a few lunch-time photos, writing a brief description and calling it good.
An influx of phone calls is soon expected from concerned or otherwise inquisitive taxpayers, said Roanoke County Commissioner of the Revenue Nancy Horn.
Confounded constituents bloom up each spring, when the local government mails out tax bills, Horn said. But higher than usual call volume is soon anticipated from taxpayers wondering why their car â and the tax payment they make on it â increased in value from last year, Horn said.
âBecause historically, we know the automobile will depreciate,â Horn said. âThatâs not the case this year.â
The sale price of newer used cars and trucks increased due to a variety of coronavirus-related factors, according to analysis from J.D. Power, a market research company specializing in used vehicles. Primarily, the coronavirus caused global supply chain and workforce disruptions, and shifted production to devices like ventilators at some large automobile facilities.