Photo Credit: RossHelen / Shutterstock Inflation has been the dominant story in the U.S. economy for most of the last year. Year-over-year increases in the Consumer Price Index have reached their highest levels in 40 years, with consumers paying more for expenses from food to housing to energy. And one of the categories that has consistently seen the highest price increases in this inflationary period is vehicles, both new and used.

Photo Credit: Oaklizm / Shutterstock Amid recent concerns about inflation in the economy, the market for new and used vehicles is one of the sectors that has drawn the most attention. With the global economy still facing ongoing supply chain challenges—particularly a shortage of semiconductor chips needed for computer systems in modern vehicles—fewer new cars are hitting the market, which has raised demand for pre-owned vehicles. Additionally, rapidly rising gas prices in recent weeks has boosted demand for more fuel-efficient vehicles.

Source: Canva The United States is living through a car crash epidemic born out of the COVID-19 pandemic. CoPilot analyzed preliminary data from the National Safety Council, released on March 2, 2022, to determine the 10 states with the fewest motor vehicle deaths in 2021. States are ranked according to the number of deaths per 100,000 people, and ties are broken by the state’s total number of motor vehicle deaths.

bibiphoto // Shutterstock Some of the most popular cars in the world have a lot in common. Many are relatively affordable and perform well with stylish design. What they don’t have in common? They’re made from parts that are sourced from different corners of the world. Some parts are produced primarily in the United States and Canada, while others come from manufacturing plants and producers from Germany, South Korea, Japan, and more.

Photo Credit: Dreamer Company / Shutterstock One of the most significant economic stories of recent months has been the rapid growth in inflation. Recent Consumer Price Index data from the U.S. Bureau of Labor Statistics revealed that consumer prices had increased by 7.5% from January 2021 to January 2022. These figures continued a trend of historically unusual month-over-month and year-over-year price increases dating back to the spring of 2021.

Photo Credit: Phonlamai Photo / Shutterstock Amid recent concerns about inflation, rising prices for new and used vehicles have received significant attention. According to recent data from the Bureau of Labor Statistics, the price of vehicles increased by 11.8% for new cars and a whopping 37.3% for used cars from December 2020 to December 2021. Even in an environment of rising prices across the economy, the spike in vehicle prices stands out.

Underwood Archives // Getty Images Supply chain issues have been dominant in the news in 2021. Major issues with the timely delivery of parts across the world have spelled trouble for a number of industries, and the auto industry is no exception. Auto supply shortages are the result of a number of factors, including shortages of semiconductor chips and other necessary car parts. But this is far from the first time external factors and events have created trouble for the auto industry.

Nestor Rizhniak // Shutterstock Leasing a car, an SUV, or a pick-up truck can be the perfect choice for many people. Monthly payments are often less than those for purchasing a vehicle, drivers can get a brand-new car every couple of years, and concluding the lease can be as simple as turning in the keys. But a number of costs and fees, not to mention the terminology, can make the prospect daunting and confusing.

Photo Credit: ImYanis / Shutterstock The COVID-19 pandemic has been tough on many sectors of the economy, but the travel and tourism industries have been among the hardest-hit. In the spring and early summer of 2020, widespread shutdowns kept many people at home in efforts to stop the spread of COVID-19. While these restrictions were relaxed over the course of the year, making it easier to travel, ongoing concerns about the virus continued to deter travel.

TierneyMJ // Shutterstock Millions of Americans travel U.S. roadways every single day. While the Interstate Highway System was conceived in 1921, it really didn’t take shape until the 1950s under President Dwight D. Eisenhower. He supported the enactment of the Federal-Aid Highway Act in 1956 for several reasons, including congestion relief and economic development. The Dwight D. Eisenhower National System of Interstate and Defense Highways is a system of roads connecting states using a series of highways.