In the past, we’ve talked about the side effects that the chip shortage has had on the automotive industry, though we have only focused on how it has reduced sales and production. It looks like the chip shortage has inadvertently caused an uptick in second-hand car sales, and with it a greater investment in our current vehicles.
The shortage of new vehicles and the rising price of second-hand cars have pushed owners to maintain their vehicles, paying for car care services, such as general maintenance and protective coats, have increased as owners take steps to secure their vehicles. Even for brand new cars, it’s been found that owners are attempting to do more to maintain the brand new appearance. Right now it’s all about prolonging the life of the vehicle you have now since it might be a while before you can afford or even get a replacement.
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