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Here’s why new and used car prices are so high and selection is so sparse

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Here’s why new and used car prices are so high and selection is so sparse

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The estimated average transaction price for a new vehicle in the U.S. hit a record-high $42,258 in June, analysts at Kelley Blue Book reported, up 6.4% or $2,527 from June 2020. June’s average sales price was 99.9% of the average manufacturer’s suggested retail price. By contrast, the average price in January represented 95.3% of MSRP.

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