According to a new report, sale speeds for new and used cars slowed in October, but not because the microchip shortage is ending.
iSeeCars.com, an automotive research firm, examined more than 250,000 sales of new and used vehicles across the country in October. The study found that both new and used cars were selling more than a week slower than in September. iSeeCars Executive Analyst Karl Brauer attributes the slowdown to increased inventory and price increases.
“The demand for new and used cars has slowed in October, which is likely the result of increased inventory over September and because elevated car prices may have deterred consumers from buying a car
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