The cost of car ownership in the U.S. surged after Covid shut down assembly lines and made vital semiconductors scarce. Then the Federal Reserve rapidly raised interest rates to combat high inflation, making car loans more pricey. As a result, in December, the average sticker price for a new car was $48,759 in the U.S. — or a near-record $770 a month to pay off over time, according to researcher Cox Automotive.
That sticker price was almost 30% higher than in January…
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