Why car prices are so high today

k9bmkDEC@?8m(9J 42C AC:46D 2C6 D@ 9:89 E@52Jk^DEC@?8mk^9bm

kAmw2D :E 366? 2 H9:=6 D:?46 J@F’G6 H2=<65 :?E@ 2 ?6H G69:4=6 D9@HC@@>n tIA64E D@>6 D6C:@FD DE:4<6C D9@4<] %96 EJA:42= |$#! 7@C 2 ?6H C:56 ?@H252JD :D 92=7H2J E@ D:I 7:8FC6D] r@?D:56C:?8 DE66A6C AFC492D6 AC:46D[ :E’D =:EE=6 H@?56C E92E >2?J 5C:G6CD k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^C6D@FC46D^5C:G:?8^2G6C286\=6?8E9\@7\42C\@H?6CD9:A^Qm9@=5 @?E@ E96:C G69:4=6D =@?86Ck^2m @C @AE 7@C FD65 42CD]k^Am

kAm(92E’D 369:?5 E96D6 4@DE=J ?6H G69:4=6 AC:46Dn p=E6C?2E:G6=J[ H92E 42? J@F 6IA64E E@ A2J 7@C 2 FD65 2FE@ E@52Jn (92E 2C6 D@>6 724E@CD J@F ?665 E@ 4@?D:56C 42C67F==J 367@C6 4@>>:EE:?8 E@ 2 G69:4=6 AFC492D6n p?5 9@H 42? J@F D92G6 D6C:@FD 5@==2CD @77 J@FC 42C EC2?D24E:@?n k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>Qm%96+63C2k^2m D92C6D 2?DH6CD E@ E96D6 2?5 @E96C BF6DE:@?D]k^Am

k9bmw@H |F49 s@6D xE r@DE E@ ~H? 2 r2C :? a_aenk^9bm

kAm%96 2G6C286 EC2?D24E:@? AC:46 7@C 2 ?6H G69:4=6 :D 4FCC6?E=J Sch[g`c[ FA `]bT 7C@> @?6 J62C 28@[ 244@C5:?8 E@ }@G6>36C a_ad k2 9C67lQ9EEADi^^HHH]4@I2FE@:?4]4@>^:?D:89ED\9F3^?@G\a_ad\2EA\C6A@CE^Qm52E2 7C@> z6==6J q=F6 q@@<k^2m WzqqX]k^Am

kAm~7 4@FCD6[ @FE\E96\5@@C 562=6CD9:A AC:46 :D?’E E96 @?=J 6IA6?D6 5C:G6CD ?665 E@ E2<6 :?E@ 4@?D:56C2E:@?] ~? 2G6C286[ @H?:?8 2?5 @A6C2E:?8 2 k2 9C67lQ9EEADi^^?6HDC@@>]222]4@>^HA\4@?E6?E^FA=@25D^a_ad^_h^&!sp%t\ppp\u24E\$966E\*@FC\sC:G:?8\r@DE\h]a_ad\`]A57Qm?6H G69:4=6 E@52J 4@DED S``[dffk^2m[ 244@C5:?8 E@ ppp]k^Am

kAmw6C6’D D@>6 @7 9@H E92E 3C62<D 5@H?ik^Am

kF=mk=:m%96 2G6C286 4@?DF>6C DA6?5D 2C@F?5 k2 9C67lQ9EEADi^^H2==6E9F3]4@>^65F^82D\AC:46D\@G6C\E:>6^`a`ff_QmSa[cch @? 82D@=:?6k^2m 6G6CJ J62C[ (2==6EwF3 C6A@CED]k^=:mk=:mp55:E:@?2==J[ p>6C:42?D ?@H 7@C< @G6C 2? k2 9C67lQ9EEADi^^HHH]<33]4@>^42C\25G:46^2G6C286\G69:4=6\C6A2:C\4@DED^Qm2G6C286 @7 Sgbg E@ 7:I E96:C 42CDk^2m[ 244@C5:?8 E@ C646?E 52E2 7C@> zqq]k^=:mk=:m%96 k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^23@FE^>6E9@5@=@8J^Qm2G6C286 2??F2= C2E6 7@C 7F==\4@G6C286 2FE@ :?DFC2?46k^2m :? E96 &?:E65 $E2E6D :D 4FCC6?E=J 2C@F?5 Sa[ade[ 32D65 @? %96 +63C2 52E2]k^=:mk=:mp=D@[ 4@?D:56C E92E k2 9C67lQ9EEADi^^HHH]5@I@]4@>^H^:?D:89ED^4@DE\@7\42C\@H?6CD9:A\7@C\4@?DF>6CD\a_ad^Qme`T @7 p>6C:42? 9@FD69@=5D A2J 2FE@ =@2?Dk^2m[ 244@C5:?8 E@ 2 C646?E DEF5J 3J 5@I@x}$xvw%$[ H:E9 E96D6 3:==D 255:?8 FA E@ hT @7 E@E2= 4@?DF>6C 9@FD69@=5 3:==D A6C J62C] %96 >65:2? >@?E9=J 2FE@ =@2? 3:== :D Scf_[ E@E2=:?8 Sd[ec_ 2??F2==J]k^=:mk^F=m

kAm“q6J@?5 E96 DE:4<6C AC:46[ 3FJ6CD ?665 E@ 3F586E 7@C D2=6D E2I[ E:E=6 2?5 C68:DEC2E:@? 766D 2D H6== 2D 562=6C^5@4F>6?E2E:@? 766D[” D2JD 2FE@>@E:G6 :?5FDECJ 6IA6CE {2FC6? u:I[ 2FE9@C @7 r2C r@249 #6A@CED] “~? 2 EJA:42= ?6H G69:4=6[ 766D 2?5 :?DFC2?46 A=FD D@>6 FA7C@?E 4@DED 42? 62D:=J 255 FA E@ 2? 255:E:@?2= Sa[___ FA7C@?E]”k^Am

k9bm(9J }6H r2C !C:46D (6C6 $@ w:89 :? a_adk^9bm

kAm$@[ H9J 5@ G69:4=6 AC:46D C6>2:? D@ 6=6G2E65n %96 C62D@?D 2C6 A=6?E:7F=[ E96 6IA6CED 28C66]k^Am

kAm“x? a_ad[ ?6H k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^C6D@FC46D^42C\:?DFC2?46^E2C:77D\2?5\42C\:?DFC2?46^Qm&]$] E2C:77Dk^2m @? :>A@CE65 42CD 2?5 2FE@ A2CED :?4C62D65 >2?F724EFC6CD’ 4@DED[ =625:?8 E@ 9:896C AC:46D 7@C 3FJ6CD] ~?6 2?2=JD:D 6DE:>2E6D E96D6 E2C:77D 4@F=5 C2:D6 42C AC:46D 3J `_T[ @C 255 23@FE Sd[___ E@ E96 2G6C286 AC:46 @7 2 ?6H 42C[” D2JD k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^23@FE^36E9\DH2?D@?^Qmq6E9 $H2?D@?k^2m[ 2? :?DFC2?46 2?2=JDE 2E %96 +63C2] “pE E96 D2>6 E:>6[ E96 4@DE @7 >2E6C:2=D 2?5 <6J 4@>A@?6?ED — :?4=F5:?8 4@>AFE6C 49:AD — 92D 8@?6 FA[ 2?5 @?8@:?8 DFAA=J 492:? 56=2JD 4@?E:?F6 E@ D=@H AC@5F4E:@? 2?5 255 6IA6?D6]”k^Am

kAm#2>: $?6:?69[ G:46 AC6D:56?E 2E x?DFC2?46 }2GJ qC@<6CD[ A@:?ED @FE E92E E96 D6>:4@?5F4E@C D9@CE286 5FC:?8 E96 A2?56>:4 D6G6C6=J 92>A6C65 E96 AC@5F4E:@? @7 ?6H G69:4=6D[ >2<:?8 2 C64@G6CJ 5:77:4F=E]k^Am

kAm“tG6? H96? 724E@CJ 42A24:EJ C6EFC?65[ E96 D<JC@4<6E:?8 4@DED @7 =23@C 2?5 >2E6C:2=D 96=A65 C2:D6 DE:4<6C AC:46D 6G6? 9:896C E92? E96J H6C6 :? E96 AC6\A2?56>:4 6C2[” $?6:?69 6IA=2:?D]k^Am

kAm|2?52E65 E649?@=@8J[ 9:89 :?E6C6DE C2E6D 2?5 56>2?5 7@C =2C86C 2?5 >@C6 25G2?465 G69:4=6D 92G6 2=D@ 4@?EC:3FE65 E@ DE66A6C ?6H 42C AC:46D]k^Am

kAm“%96C6 :D 2? :?4C62D65 E6?56?4J E@H2C5 3:886C 42CD =:<6 $&'D 2?5 ECF4<D[ H9:49 2C6 :?4=:?65 E@ 36 >@C6 6IA6?D:G6 E92? D>2==6C 42CD[ C2:D:?8 E96 2G6C286 4@DE @7 AFC492D6D[” $?6:?69 4@?E:?F6D]k^Am

k9bmw@H &D65 r2C !C:46D w2G6 r92?865k^9bm

kAmt286C E@ D2G6 >@?6J @? 2 AC6\@H?65 D6E @7 H966=Dn zqq :?5:42E6D E92E E96 2G6C286 FD65 42C C:89E ?@H 92D 2 k2 9C67lQ9EEADi^^HHH]<33]4@>^42C\25G:46^:D\?@H\E96\E:>6\E@\3FJ\D6==\@C\EC256\:?\2\FD65\42C^RiOiE6IEl%96Ta_=:DETa_AC:46Ta_@7Ta_E96[2Ta_=:DETa_AC:46Ta_@7Ta_TacadTarhcd]Qm=:DE AC:46 @7 Sad[hcdk^2m]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_`^`b^E96K63C2\4A:\7@C\FD65\G69:4=6D]A?8Q 2=ElQp 52E2 8C2A9 492CE D9@H:?8 r!x 7@C FD65 G69:4=6D 7@C E96 =2DE d J62CD]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?m%96+63C2k^7:842AE:@?mk^7:8FC6m

kAmx7 J@F’C6 :? E96 >2C<6E 7@C 2 FD65 G69:4=6 36=@H S`d[___[ :E’D D=:> A:4<:?8Di s62=6CD9:AD @?=J 925 2C@F?5 2 bc\52J DFAA=J :? =2E6 a_ad[ H9:49 :D EH@ H66<D 36=@H E96 :?5FDECJ’D @G6C2== 2G6C286] p55:E:@?2==J[ A@E6?E:2= E2C:77 AC:46 AC6DDFC6D 4@F=5 H@CD6? >2EE6CDj >2?J 4@?DF>6CD =@@< >@C6 4=@D6=J 2E E96 FD65 >2C<6E H96? ?6H 2FE@D 364@>6 >@C6 4@DE=J[ H9:49 7FCE96C 5:=FE6D 2=C625J DA2CD6 FD65 :?G6?E@CJ]k^Am

kAm!@?56C[ 2D H6==[ E92E >2?J 5C:G6CD C6E2:? E96:C 42CD 7@C =@?86C[ H:E9 E96 2G6C286 G69:4=6 @? E96 C@25 ?@H k2 9C67lQ9EEADi^^HHH]<33]4@>^42C\?6HD^2G6C286\42C\?@H\`a\g\J62CD\@=5^Qm`a]g J62CD @=5k^2m] r@?D6BF6?E=J[ E96 >@DE 2EE2:?23=6 FD65 42C ?@H EJA:42==J 72==D :? E96 S`d[___ E@ Sb_[___ C2?86]k^Am

kAm“!C:46D 4@?E:?F6 E@ C:D6[ H:E9 `\ E@ d\J62C\@=5 FD65 G69:4=6D ?@H 2G6C28:?8 23@FE Sb`[ff_ — FA ?62C=J cT 7C@> =2DE J62C[” u:I 4@?E:?F6D] “~G6C2==[ E96 >2C<6E :D DE:== 72C >@C6 6IA6?D:G6 E92? AC6\a_a` =6G6=D[ 2?5 E96 82A 36EH66? ?6H 2?5 FD65 AC:46D C6>2:?D F?FDF2==J D>2==]”k^Am

k9bm(92E r2C qFJ6CD }665 E@ %9:?< p3@FEk^9bm

kAmxE’D D>2CE E@ 36 H6== AC6A2C65 367@C6 9625:?8 E@ 2 562=6CD9:A @C >66E:?8 H:E9 2 FD65 42C D6==6C] %92E >62?Dik^Am

kF=mk=:ms6E6C>:?:?8 J@FC 3F586E 2?5 k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^C6D@FC46D^5C:G:?8^9@H\>F49\42C\42?\:\277@C5^QmH92E J@F 42? 277@C5k^2m]k^=:mk=:m%9:?<:?8 42C67F==J 23@FE E96 EJA6 @7 42C J@F H2?E E@ AFC492D6 2?5 9@H =@?8 J@F A=2? E@ @H? :E]k^=:mk=:mp?5 =62C?:?8 :7 J@FC 4C65:E :D H@CE9J 6?@F89 E@ BF2=:7J 7@C 2 36EE6C C2E6 2?5 E6C>D :7 J@F ?665 7:?2?4:?8]k^=:mk^F=m

kAm“w:89 42C AC:46D 4@>3:?65 H:E9 9:896C :?E6C6DE C2E6D >62? J@F’== =:<6=J 7246 =2C86C >@?E9=J A2J>6?ED] (:E9 2? 2G6C286 ?6H 42C =@2? C2E6 2C@F?5 fT E@52J[ 2?5 2 EJA:42= E6C> 4=@D6 E@ eh >@?E9D[ 277@C523:=:EJ :D @7E6? DEC6E4965 E9:?[” D2JD u:I[ H9@ 255D E92E 7:?2?4:?8 2 Sd_[___ 42C 2E fT @G6C e_ >@?E9D H:== C6DF=E :? 2 42C =@2? A2J>6?E @7 2C@F?5 S`[___ A6C >@?E9 — 367@C6 255:?8 :?DFC2?46[ E2I6D[ 2?5 766D]k^Am

kAmp55:E:@?2==J[ A@?56C =@?8\E6C> 7:I 2?5 FA<66A 6IA6?D6D 32D65 @? J@FC 56D:C65 >2<6 2?5 >@56=] !6C 2 k2 9C67lQ9EEADi^^HHH]4@?DF>6CC6A@CED]@C8^42CD^42C\>2:?E6?2?46^E96\4@DE\@7\42C\@H?6CD9:A\2`gdchfh`hg^Qmr@?DF>6C #6A@CED’ DEF5Jk^2m @7 =@H6DE C6A2:C 2?5 >2:?E6?2?46 4@DED 3J 3C2?5[ %6D=2 E@AD E96 =:DE H:E9 2AAC@I:>2E6=J Sc[_bd :? E@E2= `_\J62C >2:?E6?2?46 6IA6?D6D[ 7@==@H65 3J qF:4< 2?5 %@J@E2 2E 23@FE Sc[h__ 6249[ 2?5 {:?4@=? 2E 2C@F?5 Sd[_c_] |2:?DEC62> >2DD\>2C<6E 3C2?5D =:<6 u@C5[ r96GC@=6E[ wJF?52:[ }:DD2?[ |2K52[ 2?5 w@?52 2=D@ 72== @? E96 =@H6C\4@DE 6?5] x? 4@?EC2DE[ tFC@A62? =FIFCJ G69:4=6D E6?5 E@ 36 E96 >@DE 6IA6?D:G6i {2?5 #@G6C 42? DFCA2DD S`h[___ @G6C `_ J62CD[ !@CD496 2C@F?5 S`c[_h_[ 2?5 |6C4656D\q6?K 23@FE S`_[dad]k^Am

k7:8FC6mk:>8 DC4lQ9EEADi^^:>286D]DE24<6C]4@>^H^`ag_^:>286D^DE@C:6D^a_ae^_`^`b^E96K63C2\4@DE\E@\@H?\42CD\3J\>2<6]A?8Q 2=ElQp 52E2 32C 492CE D9@H:?8 4@DE E@ @H? 5:776C6?E 42CD @G6C 2 A6C:@5 @7 `_ J62CD]Q DEJ=6lQH:5E9i `__TQ ^mk7:842AE:@?m%96+63C2k^7:842AE:@?mk^7:8FC6m

kAm“#6>6>36C[ E@@[ E92E E96 EJA6 @7 G69:4=6 J@F 49@@D6 27764ED J@FC :?DFC2?46 4@DED[” $H2?D@? 255D] “~=56C[ C6=:23=6 2?5 D276 42CD FDF2==J 4@DE =6DD E@ :?DFC6 E92? ?6H6C =FIFCJ >@56=D @C 9:89\A6C7@C>2?46 DA@CED 42CD] qFE @?=J A2CE @7 J@FC :?DFC2?46 C2E6 :D 32D65 @? E96 G69:4=6 :ED6=7] *@FC k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^2FE@\:?DFC2?46^5C:G6C^@E96C\724E@CD^QmA6CD@?2= 724E@CDk^2m >2EE6C 6G6? >@C6 — E9:?8D =:<6 J@FC 286[ 5C:G:?8 9:DE@CJ 2?5 H96C6 J@F =:G6 A=2J 2 >2;@C C@=6 :? H92E J@F H:== F=E:>2E6=J A2J 7@C 42C :?DFC2?46]”k^Am

k9bm%:AD 7@C D2G:?8 >@?6J @? 2 42C AFC492D6k^9bm

kAm(2?E E@ DA6?5 =6DD @? 2 ?6H @C FD65 42Cn %96D6 6IA6CE\324<65 DEC2E68:6D 42? 96=A 4FE 4@DED]k^Am

kF=mk=:mkDEC@?8m$9@A 36J@?5 J@FC K:A 4@56]k^DEC@?8m !C:46D 42? G2CJ H:56=J 3J =@42E:@?[ D@ 6IA2?5:?8 J@FC D62C49 >2J F?=@4< 36EE6C 562=D]k^=:mk=:mkDEC@?8m%:>6 J@FC AFC492D6 42C67F==J]k^DEC@?8m “s62=6CD 2C6 72C >@C6 >@E:G2E65 E@ 32C82:? :? E96 =2DE H66< @7 2?J >@?E9 @C BF2CE6C[” D2JD u:I]k^=:mk=:mkDEC@?8mpD< 23@FE :?46?E:G6D]k^DEC@?8m {@@< 7@C >2?F724EFC6C C632E6D[ DA64:2= 7:?2?4:?8[ @C =@J2=EJ 5:D4@F?ED]k^=:mk=:mkDEC@?8mpG@:5 6IA6?D:G6 6IEC2D]k^DEC@?8m “~AE:@?2= 562=6C 255\@?D[ 6DA64:2==J 4@D>6E:4 A24<286D 2?5 6IE6?565 H2CC2?E:6D[ 42? 36 6IEC6>6=J 6IA6?D:G6[” H2C?D $?6:?69]k^=:mk=:mkDEC@?8mqFJ D=:89E=J FD65]k^DEC@?8m “%96 DH66E DA@E :D 2 b\J62C\@=5 42C[ AC676C23=J 2 7@C>6C =62D6[” D2JD A6CD@?2= 7:?2?46 6IA6CE !2F= (2=<6C]k^=:mk=:mkDEC@?8mr964< E96 G69:4=6 9:DE@CJ]k^DEC@?8m p =@H\4@DE C6A@CE 42? C6G62= AC:@C 244:56?ED @C D6C:@FD 52>286]k^=:mk=:mkDEC@?8m$:K6 2?5 EC:> >2EE6C]k^DEC@?8m r9@@D:?8 2 D>2==6C G69:4=6 @C >:5\=6G6= EC:> 42? =@H6C 3@E9 AFC492D6 AC:46 2?5 @H?6CD9:A 4@DED]k^=:mk=:mkDEC@?8mv6E AC62AAC@G65 7:?2?4:?8]k^DEC@?8m rC65:E F?:@?D 2?5 @?=:?6 =6?56CD @7E6? @776C 36EE6C C2E6D E92? 562=6C 7:?2?4:?8]k^=:mk=:mkDEC@?8mpG@:5 =@?8 =@2? E6C>D]k^DEC@?8m $9@CE6C =@2?D FDF2==J 4@DE >@C6 A6C >@?E9 3FE C65F46 E@E2= :?E6C6DE A2:5]k^=:mk=:mkDEC@?8ms@ E96 >2E9 @? t'D]k^DEC@?8m w:896C FA7C@?E 2?5 :?DFC2?46 4@DED >2J @77D6E 7F6= D2G:?8D]k^=:mk=:mkDEC@?8mr@?D:56C 46CE:7:65 AC6\@H?65 @C @77\=62D6 G69:4=6D]k^DEC@?8m %96D6 @AE:@?D 42? D:8?:7:42?E=J C65F46 >@?E9=J A2J>6?ED H:E9 >:?:>2= 4@>AC@>:D6]k^=:mk=:mkDEC@?8m}68@E:2E6 E96 @FE\E96\5@@C AC:46]k^DEC@?8m u@4FD @? E96 E@E2= 4@DE[ :?4=F5:?8 E2I6D 2?5 766D[ ?@E ;FDE E96 >@?E9=J A2J>6?E]k^=:mk=:mkDEC@?8mq6 C625J E@ H2=< 2H2J]k^DEC@?8m x7 E96 562= 5@6D?’E 766= C:89E[ =62G:?8 >2J 36 J@FC DEC@?86DE =6G6C286]k^=:mk^F=m

kAmk2 9C67lQ9EEADi^^HHH]E96K63C2]4@>^C6D@FC46D^42C\:?DFC2?46^42C\4@DE\@7\@H?6CD9:A^Qmk6>m%9:D DE@CJk^6>mk^2m k6>mH2D AC@5F465 3Jk^6>m k2 9C67lQ9EEADi^^HHH]E96K63C2]4@>Qmk6>m%96+63C2k^6>mk^2m k6>m2?5 C6G:6H65 2?5 5:DEC:3FE65 3Jk^6>m k2 9C67lQ9EEADi^^9F3D]=2^"_b<=8$#_Q C6=lQ?@7@==@HQmk6>m$E24<6Ck^6>mk^2m]k^Am