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German Used-Car Prices Hit Record on Tight Supply Chains

  • Prices surged 27% in April amid shortage of vehicles
  • Available used cars fell 18.5% compared to the previous year

A shortage of chips and other components have forced the likes of Mercedes-Benz AG and Volkswagen AG to rein in production, and the lack of new cars is trickling down market, adding more pressure on consumers grappling with surging inflation.

Prices of used cars in Germany -- Europe’s largest auto market -- jumped 27% from a year ago in April, according to data from online car market The average of 31,801 euros ($33,450) is the highest on record.