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Microchip shortage causing increased prices for new and used vehicles

Two people reaching an agreement about a car sale

If you’re in the market for a new or used car, you might have to wait a while and expect to pay more due to a microchip shortage. Scott Lambert president of the Minnesota Auto Dealers Association says on average there are 12 microchips in each vehicle and they each cost only a nickel to produce:

The microchip shortage is not just affecting new car sales, it’s causing the price of used cars to increase significantly.


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