According to PUNCH, an international microchip shortage was not only affecting car production but also making itself felt in the wallets of new and used car buyers in Germany as reported by experts.

Because fewer cars are being produced and put on the market, there were also fewer discounts, according to industry analyst, Ferdinand Dudenhoeffer. Information Guide Nigeria

PUNCH reports that a typical new car became more expensive by some 360 euros ($420) in August and September and Dudenhoeffer says he expects the current trend to continue.

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Dudenhoeffer emphasized, “In the next few months, too, new car buyers will have to reckon with falling discounts’’.

In a report filed by PUNCH, customers who desired to purchase a used car would have to reckon with even larger price increases.

A market Analyst, Deutsche Automobil Treuhand (DAT), reveals that in July and August, typical three-year-old used cars became about 2.5 percent more expensive.

DAT also revealed, “The used car market is currently experiencing a surge in prices and here, too, the chip shortage is partly to blame, because, due to the supply bottlenecks, many prospective new car buyers are switching to a newer used car“.

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