Wild Wheels

Used-car prices are down 7% Y-o-Y, but up 4.3% M-o-M, the third month in a row of M-o-M increases, and the largest February rise since 2008. The car market remains about five million units short from the computer chip shortage, which is lessening. A short-term price driver is always seasonality, but currently strong demand for used cars from car rental firms as they continue fleet rebuilding is key.

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