Autos
Cars Cost More Than Ever, and They’re Selling Faster, Too
The post-pandemic boom fizzled when a chip shortage halted assembly lines.
A car dealership in New York City.
Photographer: Spencer Platt/Getty ImagesThis article is for subscribers only.
In a year of shortages, the auto industry’s turmoil may be unrivaled. Cars have never been costlier nor flown so quickly off lots. Sales rebounded from 2020’s pandemic disruptions, only to plunge again when a chip scarcity halted assembly lines.
Retail auto buyers in the U.S. got an average discount of just 0.2% from the sticker price in September, down from a 5.5% discount a year earlier.