October 14, 2021
Used Aston Martin's $114,500 Price Tag Attests to Chip Squeeze
Used-car sellers are enjoying a boom in demand in the U.K. as the pandemic puts a squeeze on the supply of chips for new vehicles.
Average prices were up 30% in September compared with a year ago, according to Motorway, a London-based start-up that connects consumers with dealerships. A top performer was the Aston Martin Vanquish, which jumped 37% from the third quarter of last year to a price of 84,000 pounds ($114,500).
Soaring appetite for used vehicles underscores how supply-chain shortages of key components such as chips are changing consumer habits across the world amid the Covid-19 crisis. And that's providing a windfall to individuals offloading old cars. Prices globally rose 19% on an annual basis through August, according to the Atlanta, Georgia-based Manheim U.S. Used Vehicle Value Index compiled by Cox Automotive Inc.
Alongside the Aston Martin Vanquish, top sellers included the Vauxhall Agila and Ford Focus, ahead of the Volkswagen Eos, according to Motorway. Tesla's Model S trailed behind several other models, rising 14% over the past year.
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Featured Classic Car
1963 Corvette Sting Ray
While nothing was wrong with the Corvette prior to '63, when the Sting Ray rolled out it set a new standard for coolness. Besides the new look, the C2 Corvette was a bit lighter and handled far better than its predecessors. All 1963 cars had 327cid engines, which made 250 hp standard, with optional variants that made 300 hp, 340 hp and 360 hp. The most powerful engine was the Rochester fuel injected engine. Options available on the C2 included AM-FM radio (mid 1963), air conditioning, and leather upholstery. Also available for the first time ever on a Corvette was a special performance equipment package the RPO Z-06, for $1,818.
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