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Used Car Values Continue to Soar
Production for new cars has slowed for a variety of reasons. Plant shutdowns during the pandemic and chip shortages from manufactures have left a short supply of new cars on the market.
Buyers have turned to used vehicles in place of new, thus driving up pricing for used cars. Another factor is a drift away from public transit and into private vehicles because of the pandemic.
….and there’s “no end in sight” for used car prices.
If you love classic cars, you need to check out the “Chasing Classic Cars” TV series with Wayne Carini.
Wayne Carini is a legend in the world of restoring, purchasing, and valuing classic cars. His favorite car is the Ferrari 250 SWB he first drove when he was 9 years old.
The show airs on the Motor Trend channel, and can also be purchased on YouTube.
1966 Shelby Cobra 427 Super Snake sells for $5.5 million at the Barrett-Jackson Scottsdale Auction.
This was the highest priced sale at the event, which was one of over one thousand vehicles sold during the event for over $95 million total.
$5.8 million was raised through the sale of charity vehicles. Also sold during the event was a 1967 Ferrari 275 GTB/4 with a hammer price of $2.5 million.
Doug DeMuro is a writer focused on the automotive industry from San Diego, where his YouTube channel has nearly 4 million subscribers and his videos have over 1.3 billion views.