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New car inventories rising and prices falling, but not much yet
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Relief may be on the way for new car shoppers.
Two new reports indicate that recent high prices could soon begin to deflate.
Supplies appear to be catching up to demand, according to data from Cox Automotive, which shows new car and truck inventories have reached their highest levels since June 2021, near the beginning of the ongoing semiconductor chip shortage.
There were 1.32 million vehicles in inventory in September, representing a 42-day supply, according to Automotive News.
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