- The cost new vehicles got even higher because supply-chain issues slow and manufacturing and delivery of them.
- Vehicle shoppers were forced into the used market because new ones became too scarce or expensive.
- The average new vehicle costs about $47,000 and the average nearly $31,000, as of last month.
- The cost of owning a new vehicle was further compounded by the higher loan rates, which increase the total cost of a monthly payment.
