Business News

Prices skyrocket for new cars amid supply shortage

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(NEW YORK) — If you’re in the market for a new car and hoping to score a good deal, you may be out of luck.

Car dealerships across the country are facing an inventory shortage, causing prices to skyrocket. As a result, some car shoppers are even paying more than the sticker price.

Experts say a global computer chip shortage is fueling the problem. In some cases, car companies have even halted production.

ABC News’ Gio Benitez appeared on Good Morning America Thursday to discuss what consumers need to know before heading to the dealership:

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