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Young city dwellers are buying cars during the pandemic, and it’s leading to a shortage. 

Aug 13 2020

Young city dwellers are buying cars during the pandemic, and it’s leading to a shortage. For the longest time, residents in major cities have been “lukewarm” on car ownership thanks to public transit, but things began to change when COVID came along. In New York City, the hardest hit area at the start of the pandemic, more consumers started using rideshare apps and buying “way more” cars since mid-March. Because of this, dealers in surrounding areas faced a shortage of factory-new cars and used cars. According to the New York State D.M.V, they processed 73,933 original car registrations in June and July, a 39% increase from last year. For Automatch Consultation, which assists first-time car buyers, May and April were record months with a third of their sales going to New Yorkers. While car expenses can be pricey, many of these young city dwellers are discovering that one of the most valuable things of owning a vehicle is the freedom to safely go where they want along with the “peace” and “relief in actual escapism.” (NYTimes, The Guardian)