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WKBT July 27, 2021 5:52 PM Philip Reed Posted: Updated: July 27, 2021 9:50 PM The same thing that happened with toilet paper last year shortages and panic buying is now happening with cars. “In my 28 years in the business, I’ve never seen anything like this,” says Oren Weintraub, president of Authority Auto, a concierge car-buying service in the Los Angeles area. Microchip shortages, pent-up demand and a used car market that “is on fire” are driving up prices and fueling a buying frenzy, he says. Used cars will be pricey for a while, as shortages of new cars today mean fewer used ones down the road. But chip production will ramp up and new-car demand will be sated; the Federal Reserve estimates six to nine months before chip shortages ease and inventories rise. Dealer lots won’t be empty forever.

Philip reedOren weintraubLos angelesRon montoyaScot hallAuthority autoFederal reserveWorst timeWhat if you haveChevrolet tahoeManheim used vehicle valueபிலிப் நாணல்ஒரேன் வெயிண்ட்ராப்லாஸ் ஏஞ்சல்ஸ்ரோன் மோன்டோயாஸ்காட் மண்டபம்