Why are used British cars more expensive than new?

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If you live in the UK you may have to buy a used car at a higher price than a new one.

Auto Trade Group said that car dealers are experiencing difficulty in sourcing cars to the extent that 17% of cars that are less than a year old are more expensive than new ones, according to Bloomberg News.

The British company, which is a digital car market, said today, Wednesday, that this represents an increase from 4% at the beginning of the year.

“We don’t expect to see a slowdown in price increases any time soon,” Richard Walker, who oversees the group’s data and forecasts, told Bloomberg via email.

Car companies such as Volkswagen and Stellants are still in the grip of the global chip crisis, which worsened during the third quarter when the COVID-19 outbreak disrupted chip packaging and testing facilities in Southeast Asia.

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