How pandemic car shortages are still making new and used cars expensive

The shockwaves of the Covid-19 pandemic are still hitting the U.S. car market and pushing prices up, even for exceptionally old cars. The pandemic dealt a severe blow to the total supply of new cars, which has rippled down to the used market. About 8 million vehicles that would have been made for U.S. buyers during those years never were, largely due to production shutdowns and supply shortages, said Jeremy Robb, chief economist for Cox Automotive. …