Roadkill
Driving is an essential part of everyday life. From going to work to grocery shopping or even something more adventurous like a trip out to the desert or the city’s periphery, cars help facilitate daily life. Unfortunately, purchasing a vehicle has been more challenging than ever over the past twelve months. The reason for this comes from high demand and limited supplies, leaving prices consistently and rampantly rising. Behind this imbalance in supply and demand are a few primary culprits.
First and foremost, as cars have become more advanced in the past decade, built-in computer screens and other tech have become the bottom-line for consumers. So, when there was a significant shortage of computer chips, the supply of vehicles choked, and the prices for cars soared. Fortunately, analysts from such as JPMorgan have said the situation could improve mid-year of 2022 as more supplies become available. Even then, the automotive industry’s condition may not improve so quickly, as consumer taste is also a formidable market factor. Indeed, from expensive trucks to SUVs and more expensive features, such as lane departure warnings and automated braking, all of which boost prices, the modern-day car owner does not hold back in expectations for what a car should have.
Additionally, the economy’s broader inflation concerns haven’t helped the rising cost of cars either. So, what’s the projection? Well, as of now, it appears most of these issues are here to stay for a while, so if you are looking for a car, well, best of luck.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.
