Hyperdrive
Sky-High Car Prices Have Only One Direction to Go From Here
Automakers are testing the limits of what consumers can stomach. Expect stickers to slowly work their way back down.
For much of the past three years, car prices knew one direction: upward.
This was simple economics: There was far more demand for new vehicles than manufacturers could meet due to pandemic-related disruptions. As chips, wire harnesses and other components in short supply flow more freely again, a slow but inevitable march to normalization has begun.