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If you’ve thought about buying a new car, you probably noticed two things: fewer cars on lots and skyrocketing prices. 

The average price for a new vehicle purchased in December of 2021 was 

over $47,000, up nearly $6,000 from a year earlier. 

Car manufacturers are still dealing with a microchip shortage and production will likely be squeezed 

The shortage of new cars has had a ripple effect. 

 as more people look for a less expensive alternative to a new car.  And, more people are holding onto their vehicles for longer, 

On Monday, MPR News guest host Chris Farrell spoke with an automotive journalist and electric car expert about how consumers can cope with the high-cost car market and where it might be headed.

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If you’re in the market for a new car, you’ve probably experienced sticker shock. At 9 a.m. Monday, guest host Chris Farrell spoke with two experts about what’s happening with the automobile industry and prices.

Coping with skyrocketing new and used car prices

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